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
"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.”
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