Summary
This 8-K filing from 3M Company (MMM) reports on a key executive change within its Health Care Business Group (HCBG). Mojdeh Poul, Group President of HCBG, has announced her intention to retire effective July 1, 2022. Ms. Poul has had an 11-year tenure at 3M, during which she was instrumental in transforming the Health Care portfolio and driving strategic initiatives, including innovation and capital allocation. In response to Ms. Poul's upcoming retirement, 3M has appointed Jeff Lavers, currently Group President of the Consumer Business Group, to lead HCBG on an interim basis. Mr. Lavers has extensive experience within 3M, having previously led other divisions and held various leadership roles since joining in 1987. 3M is currently undertaking a comprehensive search to fill the permanent Health Care Business Group president position. This transition is a notable event for investors monitoring the leadership and strategic direction of 3M's important Health Care segment.
Key Highlights
- 1Mojdeh Poul, Group President of Health Care Business Group (HCBG), announced her retirement, effective July 1, 2022.
- 2Ms. Poul's tenure of 11 years at 3M was characterized by leadership in portfolio transformation, innovation, and capital allocation.
- 3Jeff Lavers, Group President of Consumer Business Group, will serve as interim leader for HCBG.
- 4Mr. Lavers possesses significant experience at 3M, including leadership roles in other business groups and the oral care business within HCBG.
- 53M is actively conducting a search for a permanent replacement for the HCBG president role.
- 6Ms. Poul is identified as a named executive officer in 3M's 2022 proxy statement.