Edited from Industrial Distribution and 3M.com
3M Co., the $20-bln provider of everything from adhesives to supply-chain software, to catalytic converters said it would combine its industrial and transportation divisions, a realignment that will become effective Jan. 1. 2006. Together, the combined unit will have revenue of $5.5 bln, the largest business segment in the company
The company said it made the move because the two business units already share many of the same customers, sales channels and technologies. The combined unit will be led by Hak Cheol (H.C.) Shin, who is currently executive vice president of industrial business. The formation of the Industrial and Transportation Business coincides with Harold J. Wiens' announced retirement from 3M after 37 years of service, effective Feb. 1, 2006. Wiens currently is executive vice president, Transportation Business. Shin currently is executive vice president, Industrial Business.
In addition, M. Kay Grenz, senior vice president, Human Resources, has announced her plans to retire from 3M after 36 years of service, effective first-quarter 2006.
Angela S. Lalor, staff vice president, Human Resources Operations, will succeed Grenz as senior vice president, Human Resources.