In a significant announcement made on Tuesday, 3M revealed that William Brown is set to assume the role of CEO on May 1. Concurrently, the current CEO, Michael Roman, will transition to the position of Executive Chairman.
Brown’s most recent position was as the Chairman of the Board and CEO at L3Harris Technologies, a prominent aerospace and defense company. The appointment of the new CEO comes amid a year marked by two substantial lawsuit settlements for 3M.
In June last year, the manufacturer disclosed its commitment to pay up to $10.3 billion over 13 years. This was to support public water suppliers in the United States affected by the presence of its toxic “forever chemicals” in their water sources.
Subsequently, in August, 3M announced a $6 billion settlement to address approximately 300,000 lawsuits alleging that the company provided faulty combat earplugs to the military, resulting in significant injuries such as hearing loss.
William Brown stated, “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.”
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