CP50: 3M

Company Information

3M Co. is a diversified manufacturer that was founded in 1902 at the Lake Superior town of Two Harbors, Minn. Famous brand names include Scotch tapes and Post-it Notes. In 2007 the company recorded worldwide sales of $24.5 billion and international sales of $15.5 billion, which accounts for 63% of the company’s total sales. 3M has companies in more than 60 countries and sells products in nearly 200 countries. The company employs more than 75,000 people worldwide, mostly local nationals. Fewer than 300 3M employees worldwide are Foreign Service Employees not residing in their home countries.

Company Officers

  • Gangestad2014

    Nicholas C. Gangestad

    Senior Vice President Finance and CFO

    Gangestad was named senior vice president and chief financial officer in June 2014. Gangestad previouslly served as 3M's corporate controller and chief accounting officer for three years, working closely with 3M CEO Inge G. Thulin, to drive 3M strategies, improving its businesses and optimizing its capital structure. Gangestad’s 27-year 3M career encompasses financial leadership positions across several businesses in multiple geographic regions, including the United States, Asia Pacific, Latin America and Canada.

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    Frederick J. Palensky

    Executive Vice President, Research and Development and Chief Technology Officer

    Frederick J. Palensky joined 3M in 1977 as a senior chemist. Over the years he’s worked in the Surgical Division, Medical Products Technology Division, Dental Division and Safety, Security and Protection Services Division.

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    Inge G. Thulin

    Chairman, President and CEO

    Inge G. Thulin became 3M chairman, president and CEO effective Feb. 24, 2012. Thulin previously served as 3M’s chief operating officer with responsibility for the company’s six business segments and International Operations. Prior to that, he was executive vice president of International Operations. Under his leadership, international sales grew to nearly $20 billion and now represents two-thirds of 3M’s sales. Thulin also has held numerous leadership positions in Asia Pacific, Europe and Middle East and across multiple businesses. Thulin holds degrees in marketing and economics from Gothenburg University. He currently serves on the board of directors of The Toro Company.

Investor Information

For the latest financial reports, visit: http://phx.corporate-ir.net/phoenix.zhtml?c=80574&p=irol-IRHome

Contact Information

  • 3M
  • 3M Center
  • St. Paul, Minn. 55144
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Products

3M’s products cross several business sectors. In the office products unit the company is known for its adhesives and specialty tapes, which includes spray adhesives, glue sticks, creative printer products and protective products. The company also produces cleaning products, including Scotchgard carpet and fabric cleaners and protectors.