Originally was to be announced in January, now its been delayed. The lawsuit looking at preventing the Spin Off was unsuccessful, so why is there a delay? Has someone pulled out? I don't understand why they would have committed to a date, and gone back on it - something has to have happened.
15 replies (most recent on top)
GE spun off their healthcare division earlier in the year. What if some former GE employees were colluding with current GE employees for both companies to spin healthcare companies? What if they merged after the spin? What if tireman was a little bit taller and a baller?
Since they confirmed that they are holding back on announcing a new CEO, the location of new HQ, and the new company name/brand - I’m leaning to a takeover/acquisition/merger (whichever) of Spinco. No point in announcing any of those if they’re already predefined with a new parent company.
I bet its going to be T “Smell my” Crocket the spinco leader…MR has been putting her in a different role 1 yr at a time (and rolling her out before she can destroy the place) for a decade to prep her on how to use corporate buzzwords while tanking a company. She’s almost ready.
Regarding @1oip+1l3JqRsY post…
You are obviously trying to push a corporate PR message from within. How many meetings and legal reviews did it take for you to get approval for this post? Will a 3M VP now post this phony message on LinkedIn as they have been doing for months now? Please try not to fake being authentic. It’s pretty transparent you’re assigned to monitor this website. Apologies for being so blunt - it’s not personal.
Oh, Vegetarianmeatballs… please tell us that your post is an attempt at sarcasm. If so, it’s a fun / funny post. If you are serious then your true identity is in fact Monish, or you are one of his mindless minions writing on his behalf. Or, you are Jim McNerney, Robert Nardelli, Jeffrey Immelt, Harry Stonecipher, or any other GE criminal trying to defend one of your own. Sorry to be so harsh.
Dr. Chavez is racking her brains prepping the new MGPP (multi generation project plan).
Gen 0 to Gen 04 are complete.
Next Gen is in flight.
Exciting times ahead for those still with 3M after restructuring. You will be pleased with the results .
Just the right amount of messaging to customers and signaling to shareholders that will make us great again.
Fingers crossed its monish. He is an exceptional leader.
Are you suggesting her as the ceo of the spin ?
Bich Le?
Mike should have been given clear-cut metrics and expected to deliver a vision on the future of 3M, including spins as needed at the beginning of 2021. Then given 6 months to have plans being implemented.
The last two years have been like going to the dentist for a root canal and finding out he's out of numbing agent and painkillers and oh the dentist needs to also extract two wisdom teeth. As a shareholder and retiree, this has been most painful to see a great company go past the point of no return while the board and ceo get paid huge bucks with no consequences.
If @cnp+1l3JqRsY is right (and he/she could very well be), then why would the spin just blindly continue? Whether or not the spin is a good idea is open for debate, but wouldn’t the new CEO want to evaluate it on their own rather than just let a huge strategic move set in place by an incompetent leader continue as planned. Who really trusts big decisions/plans made by this executive team? MR thought the spin and Aero bankruptcy with extended protection to 3M would be his savior and allow him to continue to “lead” this company, but like many of his other big bets, it is not working as planned. With the recent appellate ruling against JNJ, that move is looking more and more like a Hail Mary. We needed a new leader like two years ago.
My guess is somebody is going to buy it day one. Don't need new leaders if an existing company acquires the new 3M health care company. Don't need alot of things for that matter. Interesting thing, GE just spun off its own health care company and it is traded on the stock market.
Bich Le experiment set back the HC business spin for sure. Some well qualified mid level leaders left in disgust with her passive aggressive style from GE. If possible, vale has made it worse.
Agree with the poster that the real leaders in this sector want nothing to do with crazy expectations. Another fatal error for mike to hire Bich when he clearly could have found a thinker from a competitor and really give this division a step up.
3M should not be allowed to spin off the healthcare business. Is a shell game to hide assets from the lawsuits while keeping 19% control of the new company.
I have heard to lead candidate was Monish, but with the poor performance under his leadership combined with more visibility on his management style he is no longer a candidate. Expect him and Roman to both be gone in the next couple months. They are trying to recruit a respected medical device or pharma executive but after the Bich Le debacle and once the executives look at the lack of synergy between the divisions and mediocre at best growth potential...they can't find anyone who will take the job.