ST. PAUL, Minn.--(BUSINESS WIRE)--3M announced today that Michael L. Eskew, a member of the company's
board of directors since 2003, is elected lead director, effective
immediately. He succeeds Vance D. Coffman, who remains on the board
after serving as lead director since 2006.
In his new role, Eskew will lead executive sessions of 3M's independent
directors and will facilitate information flow and communication between
the directors and the chairman, in addition to other duties specified in
the board’s Governance Guidelines (available on 3M’s Web site at http://investor.3M.com
under Corporate Governance).
“Mike is a highly experienced director and his guidance will help to
further enhance 3M’s excellent governance practices and reputation,”
Coffman said. Eskew currently serves on the boards of United Parcel
Service (UPS), IBM and Eli Lilly and Co. He served as chairman of the
board and chief executive officer of UPS until his retirement at the end
of 2007.
"Mike’s knowledge of global logistics and his skills in financial
matters qualify him well to serve as lead director," said Inge G.
Thulin, 3M chairman of the board, president and chief executive officer.
“We welcome him to this position.”
Thulin continued, “Thank you to Vance, who helped to establish the role
of lead director, for his leadership over the last six years. We look
forward to his continued contributions as a member of our board.”
About 3M
3M captures the spark of new ideas and transforms
them into thousands of ingenious products. Our culture of creative
collaboration inspires a never-ending stream of powerful technologies
that make life better. 3M is the innovation company that never stops
inventing. With $30 billion in sales, 3M employs 84,000 people worldwide
and has operations in more than 65 countries. For more information,
visit www.3M.com
or follow @3MNews on Twitter.
