3M Announces New CEO and Executive Chairman

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Brown as Chief Executive Officer, effective May 1, 2024, succeeding Michael F. Roman, who was appointed Executive Chairman of the Board of Directors. The board also waived the mandatory retirement age of 65 years for both Roman and Brown. In connection with Brown's appointment, the company extended an offer letter detailing his compensation, which includes an annual base salary of $1,800,000, a target annual incentive compensation opportunity of $3,150,000, a hiring bonus of $3,000,000, and participation in the company's long-term incentive compensation and benefit plans.

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About 3M Company

3M Company, often recognized for its innovative approach, is a diversified technology corporation that caters to various consumer and industrial needs across the globe. With a robust presence in multiple sectors, 3M's primary function is the development, manufacturing, and marketing of a wide array of products essential in industries such as safety and industrial, transportation and electronics, health care, and consumer goods. The company is particularly noted for products like adhesives, abrasives, personal protective equipment, medical devices, and consumer goods like Post-it Notes and Scotch Tape. As a significant player in the industrial sector, 3M impacts daily lives by enhancing the comfort and efficiency of households and workplaces. Headquartered in St. Paul, Minnesota, and founded in 1902, 3M’s commitment to innovation and research and development continues to strengthen its position in global markets, influencing everyday products and solutions.