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

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    David W. Meline

    Senior Vice President Finance and CFO

    Meline was named CFO April 2011. He joined 3M in 2008 as vice president, corporate controller and chief accounting officer. Prior to that, he served General Motors as chief financial officer, North America as well as in positions in Europe, Brazil, Kenya and Korea. Meline was awarded an M.S. in Economics from the London School of Economics, an M.B.A. in Finance from the University of Chicago, and a B.S. in Mechanical Engineering from Iowa State University.

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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.