Monish and Mike..you have let down generations of 3M employees. You have ruined the 3M brand. I'm utterly embarrassed to be considered a 3M employee. Why are you doing all of this? Business books will have your name in them of why 3M failed. I'm embarrassed for you. Think of all the families you have impacted with your poor leadership skills. It's no secret you are trying to bring your GE background to 3M. Shame on you. B.O.D. please step in. If the board doesn't step in and make changes there reputation will also be ruined. Monish and Mike you have ruined 3Ms brand they worked so hard to earn over the last century.
#Save3M.
5 replies (most recent on top)
Pretty sure the 3M brand was ruined when we didn’t make the right, most ethical choices immediately when we learned about PFAS. Same thing with the ear plugs. We moved too slow to correct the issues. Yes, I agree Mike and Monish have created issues but the blame is not 100% on them.
I was at a neighbor's party recently, and the neighbor's grandmother was there. She was asking about my career, and when I stated that I worked for 3M, her eyes lit up. She went on to share that her now-late husband retired from 3M and all of her investments are in 3M.... I had to excuse myself from stating too much. I merely said with a smile, diversity is a good thing in investments; you should talk to your financial advisor about how to diversify.....
These are the things that concern me the most. I can recoup. I have the years, many will not. The stocks are more than the "now" they are the entire nest egg for some.
This legacy company is becoming a joke.
BOD elections at 3M and most other corporations are as fair as North Korea's. You can read up the rules on ballot access and what actually happens on the 3M investors website.
Short version, unless you hold 3% of the outstanding shares, you can't even get on the ballot. And if a BOD-nominated candidate loses, they only must OFFER their resignation, but don't actually have to leave the board unless the other board members vote to accept that resignation.
The BOD is purely there not to make waves for senior management. They get paid a lot of money and perks (like regular Wonewok outings) to just sit there, ask a few softball questions, and not actually do anything.
Can any or all of these individuals be voted out by shareholders?