3M has announced the creation of new business segments

3M has announced the reorganization of the company structure and create four business groups instead of five previously existing. The new structure will allow 3M to improve customer focus and business productivity.

“We continue to convert the 3M company for success in the future. The new structure will allow us to meet the dynamically changing needs of our customers — said chief Executive officer 3M Mike Roman. — Changes will facilitate business transformation, accelerate growth and provide better operational efficiency”.

According to the new structure the organization will consist of four business groups: Safety and industry, Transport and electronics, Healthcare and Consumer goods.

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• Security and industry. , the Segment will combine the businesses to serve markets industry, electrical engineering and security. The division will include the departments of means of individual protection, industrial tapes and adhesives, abrasives, electrical equipment, masking systems, materials for repair and roofing granules. The annual income of this segment is estimated at $12 billion.
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• Transportation and electronics. Segment will bring together businesses that cater to manufacturers of vehicles and electronic equipment. This business unit will include the departments of electronics (materials and systems for screens, technology for the electronics industry), automotive and aerospace equipment, commercial graphics, traffic safety and materials for the industry of polymers and energy. The annual income of this segment is estimated at $10 billion.
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• Health care. This business segment will continue to service the industry of the same name and will include the departments of medical products, dentistry, food safety, filtration materials, information systems for health and making medicines. The annual income of the segment is estimated at $7 billion.
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• Consumer goods. Business segment focuses on consumers worldwide and will include divisions of home products, stationery and office supplies, consumer medical products and solutions for home improvement. In the last line will also be entering the retail business of vehicle care, which was formerly part of the division of materials for auto repair. The annual income of the segment is estimated at $5 billion.

the New structure focuses on four strategic priorities: product portfolio, Innovation, business Transformation, People and culture for long-term development of 3M and maximize added value. These priorities are key components of the model generate values of 3M and how the company improves the performance today and in the future. In the new structure 3M will begin to report their financial results in the second quarter of 2019.

3M also announced the following leadership roles from 1 April 2019:

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• Michael vail (Michael Vale) has been appointed Executive Vice President of the business group Security and industry. Currently, he is Executive Vice President of group Health.
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• Chandpur Ashish (Ashish Khandpur) has been appointed Executive Vice President of business group Transport and electronics. Currently he is the Executive Vice President group electronics and energy.
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• Meijde Pole (Mojdeh Poul) was appointed Executive Vice President business group Health. She currently is the Executive Vice President of group Safety and graphics.
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• Floor keel (Paul Keel) appointed Executive Vice-President of the business group Consumer products. At the moment he is senior Vice President, business development, marketing and sales.
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• Denise Rutherford (Margaret Rutherford) has been appointed senior Vice President for corporate Affairs. Currently, she is Vice President for research, development and commercialization in business group Industry. She headed the businesses and functions worldwide, including in Asia and Latin America. Ms. Rutherford received the degree of doctor of philosophy at the University of Colorado and holds a bachelor's and master's degrees (state University of Murray).

Steven Schafer (Stephen Shafer) was appointed senior Vice President, business development, marketing and sales. Currently, he is Vice-President of the greater China region 3M and the CEO of 3M China. His previous experience includes the organization of business transformation 3M and leadership positions in business and strategic planning. Mr. Schafer received her MBA from the Harvard business school and a bachelor's degree at northwestern University. 

“IN the 3rd a very talented and diverse leadership team, and these assignments can only help us in the future — shared Mike Roman. — I am sure that each of our new leaders, who will now be responsible for more responsible and extensive areas of activity, and look forward to working with them to more effectively act in the interests of our customers, shareholders and the company 3M”.