Inge G. Thulin Elected 3M President and CEO; Succeeds Sir George W. Buckley

Mumbai: 3M announced today that Inge G. Thulin has been elected as the President and global CEO effective February 24, 2012. He succeeds Sir George W. Buckley, Chairman, President and CEO, who will retire on June 1, 2012.

Thulin immediately becomes a member of 3M’s Board of Directors while Buckley will remain the Chairman of the Board until the Annual Meeting of stockholders on May 8 at which time the board intends to elect Thulin to the position of Chairman.

Thulin, 58, has served as Chief Operating Officer since May 2011, managing 3M’s six business segments and International Operations. Prior to that, he was Executive Vice President of International Operations. Under his leadership, international sales grew to nearly $20 billion and today represent two-thirds of 3M’s sales. Thulin also has held numerous leadership positions in Asia Pacific, Europe and Middle East and across multiple businesses.

Speaking on this new development, Ajay Nanavati, Managing Director, 3M India said, “We thank George for his exemplary leadership over the last six years. He has been a true visionary and has taken 3M to new heights of success. We wish him all the best for his future and welcome Inge Thulin. We believe he will carry on George’s legacy and ensure that the company remains on a strong growth track driven by innovation. We hope 3M India will continue to hold its position as a significant player on the global map under his leadership”

Buckley was appointed 3M’s chairman, president and CEO in Dec. 2005. He led the company’s successful effort to reinvigorate growth and innovation, which culminated in an all-time high $30 billion in sales in 2011, with new product sales now comprising nearly one-third of total sales.

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