3M announced a realignment of its major business groups to better serve global markets and customers. The new structure will be comprised of five business groups:
* Consumer (2011 sales of $4.2 billion)
* Industrial ($9.6 billion)
* Health Care ($5.0 billion)
* newly formed business group Safety & Graphics ($5.5 billion)
* newly formed business group Electronics & Energy ($5.7 billion)
Previously, the company operated six major business segments.
"The change is a natural outcome of our strategy to increase relevance to our customers and to broaden our presence in the markets we serve," said Inge Thulin, 3M chairman, president and CEO. "By building scale more broadly, we create critical mass in each business group to take full advantage of innovation and commercialization opportunities."
The company also announced new leadership roles for a number of its senior leaders.
The new structure is effective immediately, with segment reporting for the new organization effective January 1, 2013.
Electronics & Energy will be led by Executive Vice President Mike Kelly, former head of 3M's Display and Graphics business. The new business group includes the following operating divisions:
* 3M Touch Systems
* Communication Markets
* Electrical Markets
* Electronic Solutions
* Electronics Markets Materials
* Infrastructure Protection
* Mobile Interactive Solutions
* Optical Systems
* Renewable Energy
Safety & Graphics will be led by Executive Vice President Julie Bushman, former head of 3M's Safety, Security and Protection Services business. The new business group includes these operating divisions:
* Architectural Markets
* Building & Commercial Services
* Commercial Graphics
* Industrial Mineral Products
* Mining, Oil & Gas Solutions
* Occupational Health & Environmental Safety
* Security Systems
* Traffic Safety Systems
Industrial will be led by Executive Vice President Brad Sauer, remains unchanged, with the exception of Renewable Energy moving to Electronics & Energy. Sauer formerly led 3M's Health Care business.
Health Care will be led by Executive Vice President Joaquin Delgado, which remains unchanged. Delgado formerly led 3M's Electro and Communications business.
Consumer is also unchanged and will continue to be led by Executive Vice President Mike Vale.
Chris Holmes is named senior vice president, Corporate Supply Chain Operations, succeeding John Woodworth, who announced he will retire. Holmes was formerly executive vice president of Industrial and Transportation business.
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