- After about six and a half years in the position
- Praise for Thulin
- Thulin will remain as executive chairman at 3M
- Thulin said 50 words
(exechange) — St. Paul, Minnesota, March 5, 2018 — Inge Thulin, chief executive of 3M, hands over the reins. As announced by 3M Company in a news release on Monday, March 5, 2018, Inge G. Thulin leaves his post as chief executive officer at the maker of Post-it notes and food safety products after about six and a half years in the position, effective July 1, 2018.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past 12 months was 9.2 years, according to data compiled by exechange.
Thulin’s duties will be taken over by Michael F. (Mike) Roman, currently chief operating officer of 3M Company.
“Thorough and thoughtful succession planning process”
Thulin’s departure from the CEO post is explained as follows. Thulin said: “After a thorough and thoughtful succession planning process, Mike is the clear choice to lead 3M into the future as CEO.”
Thulin will remain as executive chairman at 3M
Thulin is appointed to a newly created position, executive chairman of the board, also effective July 1, 2018.
“In his new role as executive chairman of the board, Thulin will continue to chair 3M’s Board of Directors while also working closely with Roman on longer-term strategic initiatives for the company,” 3M said.
Share price rise since July 2011
The change follows a rise in the share price of 3M Company since July 2011.
In the position of CEO since 2012
Inge G. Thulin has been the Chief Executive Officer and President of 3M Company since February 24, 2012.
Thulin is the Chairman of the Board, President and Chief Executive Officer of 3M Company.
Thulin served as President and Chief Executive Officer of 3M Company from February 24, 2012 to May 8, 2012.
Thulin served as the Company’s Executive Vice President and Chief Operating Officer from May 2011 to February 2012, with responsibility for all of 3M’s business segments and International Operations.
Prior to that, he was Executive Vice President of International Operations from 2004 to 2011.
Thulin also has held numerous leadership positions in Asia Pacific, Europe and Middle East, and across multiple businesses.
Read the full story in the exechange report 11.2018 ($).