Fill in the blank from historical leaders of 3M: How would they stand up to the crisis we're currently in.
o Inge T
o Sir George B
o McNearny
o Desi
o McKnight
14 replies (most recent on top)
McN: time to decontaminate
They would say he is an Oscar Meyer Weiner.
Post ID: @2jiw+1qKBMDSA
We're talking 3M's BOD here, so they're "panic" response was to give Desi a full decade to wander around aimlessly through economic downturns in the US and then Asia. Nobody thought that 3M would need to look outside for new leadership, but Desi and his cohorts' inability to respond to global challenges and the emergence of a digital, connected world made it clear that the next leader needed to come from outside. Going external was the correct decision. The fatal mistake was falling for Jimbo's tan, smooth talk, and GE pedigree.
Yay, Desi gave Maplewood employees a free day off during a blizzard. He spent the next 3,000 days with his thumb up his nose expecting regional leaders to "steady the ship" and keep plugging along until things got better. Add to that, the Imation spinoff cost 3M their last true, homegrown leader in Bill Monahan when they tagged him to take over that company. The right decision would have been to give Monahan the keys to 3M in '96 and send Desi into an early retirement. But that wouldn't have been the Minnesota Nice thing to do so they let Desi flounder around for another 5 years.
Desi was around far too long for McNierney to be brought on in a panic. Was he perfect? No. But I’d rather have Desi than Jim, George, Inge or Mike.
Desi's 1st official day as CEO was the infamous day 2 of the 1991 Halloween blizzard. He had the heart to give the 3M Center employees a paid day off on that Friday. Inge and Mikey would have required a payroll deduction for missing work.
That was when 3M was constantly in the top 50 best places to work in Fortune.
Post ID: @1gxl+1qKBMDSA
Desi was the beginning of the end. Yeah, he was a nice guy, a lifer, and "did you know he speaks 5 languages?" But he was the ultimate Peter Principle. His resume was better than his vision or leadership. He thought he was still leading a "make a little, sell a little, keep a product in every market" company. When the board saw how unprepared he was they panicked and brought in Jimbo McNerney. Name another CEO to lead two titans of industry with sterling reputations for manufacturing excellence into the cr_pper?
Ever since Lew Lehr the ultimate attitude of every 3M CEO has been "I've got mine...'F you, pay me."
What is the risk when you are given multi-generational wealth as soon as you take the job?
They should say:
“Sorry, we did nothing about PFAS”
Inge is a criminal. Cost this company billions to make his millions.
Simply pathetic. Inge is probably laughing his a.r.s.e off since he looks so good, at least with respect to stock price performance, compared to his successor.
McKnight would call Roman out, if for nothing more than the treatment of people (numerous layoffs because of poor business decisions, not the economy).
Desi was the last of the true 3M leaders. He may have made some mistakes (pouring a few billion into the business that became Imation that should have been spent other investments) but his heart was always in the right place.
Mcnerney would have praised him for bringing in GE Monish.
Buckley would have been fiercely critical because of the reliance on consultants like McKinsey (A3M) and now Kearney (thanks Pete).
Inge would have praised him since he sold most of his lost probably above 200 and could buy 2 shares back later for the price of one when he sold it.
Mike's the kind of guy that the Three Stooges would have made look like a fool.
i would think the past few CEOs, starting from Buckley onwards, WOULD THANK ROMAN for taking the hit for them. All the bad acquisition and investments started 20-30 years ago and accumulated. it just happen to blow up during Roman's tenure. in short, they should appreciate ROMAN for willing to be a scape goat and scarred for life.
Inge T started this mess by increasing stock buybacks of 3M stock, then packing the sales channel of heavily discounted items and promos, so he could make sales look better than they actually were with lower margins. Thulin was a toad and a disgrace, plus he like to travel to meet ladies just as George Buckley had a penchant for his perverted Japan travels. That and Thulin is one of the id--ts that decided to sue another company over Ear Plugs that partially caused the Aero debacle, and not settling the case when they should have. Thulin was actually a terrible CEO whose only saving grace was being a banker and pump and dumping the stock so he could enrich himself. Absolute zero and a tu-d!
Inge T - “If you gave Mike a penny for his thoughts, you'd get change."
Sir George B - “Some drink from the fountain of knowledge; he only gargled.”
McNearny - “Mike should go far - and the sooner he starts, the better."
Desi - “Gates are down, the lights are flashing, but the train isn't coming."
McKnight - “He has delusions of adequacy."
Inge T - “Mr. Roman, your performance is a national disgrace.”
Sir George B - “Mr. Roman, your performance is a national disgrace.”
McNearny - “Mr. Roman, your performance is a national disgrace.”
Desi - “Mr. Roman, your performance is a national disgrace.”
McKnight - “Mr. Roman, your performance is a national disgrace.”