This ship is sinking
37 replies (most recent on top)
Agreed, I suspect if it was going to be a TEBG div president, they would have already named them.
Looking at other BGs: (without naming names admins, take note)
- HCBG - I don't think any of them are d-mb enough to try and get back into RemainCo.
- CBG - Most likely business to pull from, I see two candidates. I know one who will definitely want the job, and I'd bet money they are already lobbying for it, but they would be an absolute disaster. (No clue how to run a technical spec-in business.)
- SIBG - Probably two of them on the 'ready in 3-5 years' succession list, but not ready now.
- Corporate Staff - I only see one possibility, but I think they would be a very, very long shot.
Again random speculation, but that is what I can see from who I know.
@varys
Looking at the list of current division presidents, don't see anyone who is ready to take over as group pres.. bench strength seems weak
Some speculation, but I would look for the end of the year as a tell/deadline.
If it will be internal, they will probably name the person by year-end.
If we get more than a few days into January without a person being named, it is almost certainly external. Hiring external will be a challenge. 3M will have to make it attractive to come in when Spin is happening and someone who wants to work for both Roman and Monish. That won't be an easy thing.
Will the replacement be internal or external?
Maybe time to short AVNT stock to make some money, considering how AK and other's "leadership" have affected 3M stock over the last 5 years or so ???
Avient Appoints 3M Ashish K. Khandpur as Chief Executive Officer
Wonder who will make Power Point Slides for AK now. Clearly a tough job. Needs at least a Director level person to make this happen🤪
Clearly this is MP winning the internal horse race and muscling out his competition for the top job... Lavers gone, Ashish leaving, and Vale fired.
MP likely gets the distinct pleasure of being the reincarnation of Edward Smith, navigating the presumably unsinkable vessel towards oblivion.
But, what does he care? He still gets paid and the bankruptcy court that 3M will eventually visit will not claw back any executive compensation from him.
"Winning" the GE leadership way!
Losing JF will hurt, trust me.
Seems like the GE guys are systematically eliminating the 3M guys!
Always wonder how did KC climbed to her top position in CBG? What qualities does she have?
My earlier post got removed. I did not name any names, nor did I use any abusive language. Why did it get removed ???
AK was a technically gifted person. He has a bachelor's degree from IIT, where only the top 2 percent of India's best and brightest qualify. Later on he completed a PhD in Chem. Engg from the U of M, easily a top 5 program in the US at the grad level. He worked with Prof. FB, a world renowned faculty in ChemE.
He did quality work at the bench level while he was a worker bee at 3M. Was identified as a high potential early on and looked upon favorably by top management at that time (IT in particular).
Circa 2006, he was sent to 3M India as a lab manager to set up R&D operations in India, a growing and promising market. He set up the R&D lab in India and recruited some key people there.
After his India stint, which is generally perceived as quite successful, his career saw meteoric rise and he rose up the management ladder very quickly.
Interestingly when he was the CTO, he closed the CRL lab operations in 3M India that he had helped set up earlier.
Interesting in the sense that when you are in 3M management, you can get credit for whatever you do. Open a lab, ......promotion. Close the same lab a few years later, ....more promotions follow for strategic decisions that you have taken for growth.
Thanks to AK's support, a couple of 3M India's employees were given extended EBTs in the US. Both were close to AK during his 3M India days.
One of them was in SEMS (now CRSL), CRL labs. When CRL, 3M India was shut down (a decision largely influenced by AK), this person was given a permanent position in 3M, US. This was rather uncommon (after all how many employees in 3M subsidiaries get a chance to work as a permanent employee in the US HQ ???). Everyone knew that this happened largely due to blessings from AK.
This technical employee had rather mediocre academic / technical credentials and one excellent credential. He makes fabulous power point slides and presentations. So much so, that he used to present a class, about 10 years or so ago, about effective power point presentations in 3M. It is also widely known in close circles, that most of AK's slides over the years came from him.
Maybe nothing wrong with that, but here is the problem. The person that we are talking about, has never made a penny for 3M. Dude has zero patents in his name and has no tangible contributions to the top line or bottom line of the enterprise.
His current position.... currently Director level position in TEBG, equivalent to a T6 at the bench level. How does an employee with mediocre credentials and more importantly almost negligible contributions to 3M ,become a director ( unless of course his power point skills made $$$ for 3M....rather incredible isn't it other than quite obviously absurd).
If this is not nepotism and favoritism, not sure what is?
If you are a worker bee in 3M and aspire to be a T6, you know how hard it is to get there (demonstrate millions of $$ in sales, high level technical acumen, IP, external reputation and most importantly VP and SVP level favorable impressions, plus so much more).
So how does our guy get to a Director? Plain and simple, make power point slides for a EVP and stay loyal to your boss who will take care of your career as long as he occupies the high chair !
Global is providing the ppt to the subs now and it is a good way to get the communication fully controlled and identical at below levels. It is no longer a time consuming activity. Who is the content provider it could be of interest to know the level that iniate it.
@2pyr+1pvIF2ld
3M and many other companies should remove PPT. Executives spend hours with their “expert PPT assistants” making slides. AK’s is not the only case e.g KC, now executive in Consumer, was a protege of HCS and escalate doing slides. Stop this PPT culture and nepotism of course!
Re: "The person wasn't from 3M India (but I see how this mistake could happen). The person was extremely talented and, yes made pretty PPTs, but their main job was to develop significant, meaningful content for the strategies from AK. And this person hasn't done as well afterwards as the person deserved based on their talent."
I agree. I know the exact person being discussed, and he's certainly qualified for his role.
AK was the perfect executive.
Nobody ever said anything good or bad about him.
Add to the above ......nobody quite knows what tangible contributions he made to 3M as an executive while drawing millions in salary and benefits over the years.....
Above statements are true for most of our executive team...no doubt about it.
I've been out of TEBG for a while now, but I rather liked him compared to many others. And it does feel like there is a lot of hate directed at people higher up in the organization. I understand being bitter about how things have been going but you can't paint everyone with the same brush. Some are/were better than others.
Re: "Rumor is that someone he had hired from 3M India used to make the artwork for him! Grapevine also says that thanks to AK's support this person has done rather well ,currently a director level guy, considering his credentials."
Complete cr-p. I know the situation mentioned here, I think. The person wasn't from 3M India (but I see how this mistake could happen). The person was extremely talented and, yes made pretty PPTs, but their main job was to develop significant, meaningful content for the strategies from AK. And this person hasn't done as well afterwards as the person deserved based on their talent.
I know I'll get a lot of abuse for this post since this site seems to be basically for everyone to spew for hate for anyone in a leadership position, but here goes.....
I'm not saying AK was the best exec in the world, but give the guy his due. I saw him champion two projects that started because of market need and technical capabilities. He understood the technologies and the business potential and tried to drive them. I know that for one project at least, he advocated for the project up to the BoD level - he made sure the Board saw the project demo. Those of us on the project felt he was a strong champion for us.
He has done anything good to this company, but he has not done anything bad to this company. So he's the right person for the company
JL leaving is a shock - he was my guy.
Perfect executive.
AK was the perfect executive.
Nobody ever said anything good or bad about him.
That's the key skill set required at the top - polish!
It's not just good looks and charm like back in the day.
Top driven innovation, whether by AK or MV or any other ABC, has never worked.
All the products that have been launched over the years have been the brainchild of the so called office peon or the worker bees.
The top dogs are only good at taking credit for their work and championing projects at the CTOC level.
I have seen AK present some impressive Power Point slides though!
Rumor is that someone he had hired from 3M India used to make the artwork for him! Grapevine also says that thanks to AK's support this person has done rather well ,currently a director level guy, considering his credentials.
Classic third world style nepotism in contrast to prevalent old school boy type nepotism in 3M.
Sorry - I disagree with some of these comments. Ashish was one of the only EVPs that actually understood technology, especially non-chemical stuff, and pushed 3M towards these new (to 3M) areas. Was he successful often? I guess not (he triggered the 3M immune system), but at least he tried.
Anyone know where he's going?
Can anybody identify something AK has done to help grow TEBG? I am racking my brain and I can't think of anything.
This m_f could have left long ago. Instead he forced out a ton of talent and was a massive chauvinist. Good riddance and best of luck to whichever company he will destroy next.
This is not a loss to 3M whatsoever…
Anyone know what company he is going to? It will be hilarious when that company finds out what they actually purchased! No returns!
Having been in TEBG, AK leaving is no big loss. The projects he has championed have been duds (even with LOTS of people and $ to run factory experiments)!! Bring on somebody new who can pick better projects to grow TEBG.
C Holmes should not be allowed on campus.
Sadly, I think Moni is slowing but surely eliminating all competition for the CEO position. Ashish and Jeff were not great but they did have company history. Bring back Holmes to lead the company
Hope they don’t replace with me of the current Division Presidents in TEBG !! That will be an epic F up !! They need someone from the outside for this role
Sheeeeeeeeeeesh
After 28 years, he saw the writing on the wall and got OUT
To: @iou+1pvIF2ld
I’m not sure about your math (although I have not looked at the SEC filing). If AK sold 441 shares and netted $40M, that would mean he got well over $40,000 a share. Am I missing something here?
SEC filings show Ashish sold 441 shares for over $40M on 10/4. Don’t follow what the execs say, follow what they do; this looks desperate, but they aren’t d-mb- they are cashing out and jumping ship
Great! J Lavers as well!! Still waiting for MR, MP, JB, PH, KC et al MR executive team But not hope about 3M future since those guys do not know how to hire right people.
Was he pushed out or did he leave on his own ?
we need VARYS to come back as President
AK has been a failure for a long time now. Everyone at the top should be forced to leave, house needs cleaning at the very top for survival.