3M Appoints New Chief Financial Officer

Details

Maheshwari, currently serving as CFO at Otis Worldwide Corporation, will receive an annual base salary of $1,050,000, a target incentive compensation of $1,155,000, and a hiring bonus of $3,150,000. He will also be eligible for long-term incentive awards and relocation benefits. Pending Maheshwari's start, Theresa Reinseth has been appointed as Interim CFO. A press release detailing these changes is furnished as Exhibit 99.2.

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Exhibits (2)

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.