The rumors that the board is looking for a change may just be a pipe dream, but 3M would need to appoint interim to fill in for probably 12 months before they could find a replacement if they wanted to go outside.
Layoffs still happen since that's the only plan 3M has when organic sales growth is negative.
Is there a preference if the board chooses between monish and Vale? Sounds like vale would get the nod since monish just wants to be HC CEO.