3M
(NYSE: MMM)
announced today that it selected William M. Brown to succeed Mike Roman as CEO.
Brown’s appointment to the corner office goes into effect on May 1, 2024. Roman will shift to the role of executive chair of 3M’s board of directors with the same effective date.
“Bill’s strong track record as a CEO for a global technology company makes him the right leader for 3M,” Roman said in a news release. “He brings a wealth of experience in strategic leadership, innovation, and operational excellence to 3M. I look forward to working with him to build on our momentum in my new role as executive chairman.”
News of the shift at the top of 3M comes at an interesting time, as the manufacturing giant prepares to spin off its Solventum healthcare business.
Brown, 61, previously served as chair and CEO at L3Harris Technologies, an aerospace and defense technology company. He held the role of chair, president and CEO of Harris Corporation before it merged with L3 in 2019. Brown initially joined Harris in November 2011 as president and CEO.
Before Harris, Brown spent 14 years at United Technologies Corporation (UTC) in a variety of leadership roles.
“I am excited for the opportunity to lead this iconic global company,” said Brown. “The company has made significant positive changes under Mike’s leadership, and I am looking forward to building on that progress as CEO as 3M continues to deliver for its customers, shareholders, employees, and communities around the globe.”
Roman will continue to chair 3M’s board, bringing more than 35 years of experience with the company. He initially became CEO in July 2018.
3M also said its board waived the mandatory retirement age of 65 years for both Roman and Brown.