Bryan C. Hanson will serve as CEO of the independent health care company when it is spun off from 3M.
Latest In 3M
The news follows 3M's failed attempt to move the biggest mass tort lawsuit in U.S. history into bankruptcy court to limit its liability.
The SEC found that employees of a 3M subsidiary arranged for Chinese government officials to attend overseas events as a pretext to purchasing product.
The company reduced its total global workforce by 10% this year as 'demand for consumer electronics waned,' Reuters reported.
3M will pay up to settle a lawsuit claiming the chemicals in the firefighting foam provided to them contaminated drinking water.
3M will make facility and equipment improvements to expand its biotech manufacturing capabilities, and add 60 employees in Europe.
3M has terminated long-time exec Michael Vale for "inappropriate personal misconduct" just three weeks after he took on a newly-created post.
The staffing changes come amid restructuring actions for 3M, including laying off 6,000 positions.
The 6,000 impacted positions are in addition to the downsizing of 2,500 global manufacturing roles that 3M announced in January.
The PPE supplies and adhesives maker experienced slower-than-expected fourth-quarter growth in consumer-facing markets.
PFAS have become a liability and could cost the company $30 billion, according to a report.
MDM looks at third-quarter 2022 earnings reports from Graybar, 3M, Pentair, SKF, Kimberly-Clark and Simpson Manufacturing.
The Verify platform aims to help consumers, distributors, employees and the general public avoid buying counterfeit 3M products.
It's the third consolidation center for 3M, with other locations in California and Illinois.
The lawsuits accuse 3M and a subsidiary of selling faulty combat earplugs that damaged the hearing of veterans who used them.
An expert says lawsuits filed by veterans who blame hearing issues on defective earplugs could bankrupt the company, but 3M calls the interpretation ‘flawed speculation,’ according to Bloomberg.
It could take until the end of 2023 to complete, after which 3M will retain a 19.9% stake.
State officials signal approval as the multinational company says it will add 600 new jobs at its plant in Clinton, Tennessee, by 2025.
Each of 3M’s divisions had strong showings in the third quarter of 2021, with safety and industrial sales up 7.2% over 2020.
All divisions at the company posted a strong quarter, with safety and industrial sales growing 22.4% in the period.
