Thanks to the real Varys for your well written and thoughtful comments. I am afraid to say too much but I hope Bill “cleans house”, especially in Legal.
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My reasoning for TEBG is:
- TEBG is without a leader for roughly 7 months.
- If TEBG was going to continue in it's current form a leader would have been hired already, internal or external.
- Therefore TEBG is likely to re-organize in some way.
- A TEBG/CBG shuffle does not make sense to me from a business model standpoint.
- Hence, a TEBG/SIBG shuffle that is in the works.
Speculative I freely admit, but fits what information I have. As tangential support, a person who I expected to be actively lobbying for the TEBG role left 3M recently for at best a lateral move, more realistically a demotion.
As to the nature of the shuffle, I don't know, I don't have enough information to speculate. If I were in charge I would think about some division swaps based on business model. One idea would be to put all the 'distribution-first' divisions together (ASD, AAD, PSD, etc.), and put they 'key account-first' based divisions together (AASD, Electronics OEM, IMPD, etc). If 3M is successful in getting more divisions are getting sold/spun-off that would play into it as well.
I don't know the legal personalities well enough to speculate what is up over there. The earplug litigation was a mess for sure, but what can you expect the lawyers to do when there is a memo saying the product was flawed... The root problem was the lack of due diligence in the acquisition.
@vhr+1srzNzPb Can you elaborate on how you think TEBG/SIBG is going to be shuffled? Do you think SIBG will just absorb TEBG and they'll be one division within SIBG, or do you think they'll chunk off parts of TEBG and stick them into existing divisions within SIBG (where there already is overlap between products/customers)
@Varys - What about FlimFlam? I read the post about how he is responsible for the earplug litigation. If anyone else made a mistake like that they would be fired. Instead, he got promoted. He is also not known for his leadership skills. I am not sure why he has lasted so long at 3M.
That isn't me, the quickest way to tell is the pointless ad hominem insults and nicknames. Seriously, if people are going to try and copy me, get the tone right.
I think you are mostly right on the first sentence. The rest, not so much.
My view:
- Gibbons will be quietly shown the door, once they find someone else to take the reins of manufacturing.
- Banovetz is probably going to 'retire' soon too. Plenty of better options, even inside 3M.
- Zoe I feel is probably 50/50, not sure a better option exists in 3M.
- I suspect a merger/re-org/shuffle of TEBG and SIBG near-term is growing increasingly likely. Going this long without in TEBG is increasingly suspicious and one person I saw as a leading (not good, but leading) candidate for the role has recently left 3M for a lateral/demotion move.
Finance, the board likes Monish for some reason and I honestly can't tell why. He is safe for the moment but shouldn't be.
The GC
Who is Flimflam again? Rest of cast of characters is clear. Thanks!
Doesn’t take much courage to fire people 6 at a time in a Teams meeting. Gibbons has no purpose other than be the hatchet man. It’s been going on for what 3-4 years ? ( layoffs) if that was the solution then shouldn’t the stock be through the roof? If he knew ANYTHING about manufacturing that might help but what he knows would fit in a thimble.
If he doesn’t figure it out soon, the good ones will leave like some of the others. Here’s hoping he has connections with recruiters other than the ones who placed Finance and Legal and has them working now.
Varys is right as usual. Finance is hard to miss. Flimflam and his sidekick other EVP also are obvious. HR also needs an overhaul.
So he’ll figure out misogyny mini immediately. But he knows he can’t fire him (didi and all). Flimflam trips all over himself so he will come across as a dithering jester anyway. Zoe will just sit in a corner and serve bill coffee when he needs it. Gibbons will just act like Santa’s elf so he serves a purpose. Karina and gory goralski are clever and will be on the watchout. And Roman will just sit around and act like he knows stuff (which he doesn’t).
Bill is here for one reason: break-up what is left of 3M into 4 to 6 companies. He will likely keep Gibbons around since he has shown the "courage" (couch, cough) to fire scores of employees while doing videos on "transformation" for Kearney.
Both-
HR
Legal (both of them)
Finance