In order to better serve our global customers and markets, 3M is realigning the company from five business groups to four, effective April 1.
“We are continuing to advance 3M into the future, and today’s actions will strengthen our ability to meet the fast-moving needs of our customers,” said 3M CEO Mike Roman. “Our new alignment will leverage our business transformation progress, accelerate growth and deliver greater operational efficiencies.”
This new structure strengthens 3M’s four strategic priorities – Portfolio, Innovation, Transformation, and People and Culture – and positions 3M for long-term growth.
The new structure will include the following four business groups: Safety & Industrial, Transportation & Electronics, Health Care and Consumer.
- Safety & Industrial includes businesses that serve the global industrial, electrical and safety markets. It will consist of personal safety, adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket and roofing granules. This business group will have estimated annual revenue of $12 billion.
- Transportation & Electronics includes businesses that serve global transportation and electronic OEM customers. It will consist of electronics (display materials and systems, electronic materials solutions), automotive and aerospace, commercial solutions, advanced materials and transportation safety. This business group will have estimated annual revenue of $10 billion.
- Health Care serves the global health care industry and will include medical solutions, oral care, separation and purification sciences, health information systems, drug delivery systems and food safety. This business group will have estimated annual revenue of $7 billion.
- Consumer serves global consumers and will include home improvement, stationery and office supplies, home care and consumer health care. Home improvement will also include the retail auto care business that was previously a part of the company’s automotive aftermarket business. This business group will have estimated annual revenue of $5 billion.
In addition to the new business group structure, 3M has also created a new Corporate Affairs function to advance the 3M brand.