He has no strategy for EO
Only cut costs- one trick pony.
10 replies (most recent on top)
Peter G knows tires not Material science companies. What a disaster he's become on less than a year. Better change the team name to enterprise mis-operations.
Two SVPs have quitted from EO M&SC, since Peter G took over as the EO chief. Ivan and Tamera resigned. Who will be next to leave?
Will she be missed don’t think so
One common thread, Monish and his treatment of people is poor, women especially so. Mike Roman claims to support diversity and inclusion and lets this CFO run over women and drive them away. Shameful
Tamera looks to have landed a nice job at Kimberly Clark. Maybe even some leaders see the dysfunction and gloomy future and are leaving for better pastures, it's not just the worker bees
EO SVP Tamera had joined our competitor. That's it.
Maybe the women SVPs just had more integrity and did not want to continue supporting the direction of Roman and the board and saw the devaluing of employees as they try to navigate avoiding complete collapse.
3M is in crisis and trying to keep from filing bankruptcy in the near future. They are in a clinical, unemotional mind state as they are in crisis. The last thing on their mind is “what is best for our employees”. They are in a box and they just don’t have that many choices. They need cash now to stay afloat. They are minimizing their cost with the cuts and in all capacities.
Normally when 3M is going significant cuts, they offer retirement packages first to let those who are close leave to minimize the impact for everyone. They are not doing that this time. Guessing as the cost and what better way to continue to have cuts with out having to cut. They know that those close to retiring will retire as soon as they can with out having to let them go and if they freeze pensions they will likely get even more to leave/retire. This is what they want.
Seems to be a pattern here, starting with Kristen Ludgate (SVP) jumping ship last year. Then at end of ‘21 the forced retirements of another female SVP and a female VP. Then EVP Mojdeh Paul “retiring” earlier this year. There doesn’t seem to be room or tolerance for women at the top.
Given the reputation of Monish, who can be shocked? GE has a reputation of passive aggressive and a male dominated leadership. He's simply infected 3m with the same bad karma from GE