3M restructures divisions, announces executive changes
(Reuters) - 3M Co (MMM.N) said Wednesday it had restructured its operations into five major divisions, down from six, and set up new roles for some of its senior executives.
The company, which said Monday it was buying Ceradyne Inc CRDN.O in its biggest deal since naming a new chief executive officer in February, will now comprise of consumer, industrial, health care, safety and graphics, and electronics and energy divisions.
The new structure is effective immediately, with segment reporting under the new organization effective January 1, 2013.
"By building scale more broadly, we create critical mass in each business group to take full advantage of innovation and commercialization opportunities," Inge Thulin, 3M's chief executive, said in a statement.
The new safety and graphics division will be led by Executive Vice President Julie Bushman, former head of 3M's safety, security and protection services business.
Executive Vice President Mike Kelly, former head of 3M's display and graphics business, will lead the new electronics and energy group.
The industrial group will be headed by Executive Vice President Brad Sauer, former head of 3M's health care business.
Health care will be run by Executive Vice President Joaquin Delgado, who had led 3M's electro and communications business.
The consumer division will continue to be led by Executive Vice President Mike Vale.
Chris Holmes was named senior vice president of Corporate Supply Chain Operations, succeeding John Woodworth, who plans to retire. Holmes had led the industrial and transportation business.
(Reporting by Lynn Adler; Editing by Bernadette Baum)
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