OP's title is misleading. Adjusted organic growth (i.e. sans PFAS related products) is 1.2%. This is quite a good number considering 3M has been shrinking (negative growth) in most of MR's tenure. Growth is expected to double in 2025 (guidance is 2-3%). This is why our share price has gone up >10% in the first 3 weeks of the year.
The company is doing well. Brighter days are ahead!
They didn't mind because then they have a good excuse to pay poorly for AIP.
Keep payroll down, stock price up, and collect your payday. That's all you need to know to be in the C-suite.
There was a time when such an absolutely awful showing would have cost some leaders their jobs...
I'm old enough to remember when the organic growth target was 2 times GDP, today even getting close to GDP is theoretically a 'win' and 'beat the estimate'.
You'd think that would be a cause for concern.