or does the leadership here not know how to grow this company?
4 replies (most recent on top)
The board has given up on maintaining 3M as a whole. It's plan is to start chopping up and selling what they can.
All this is evident in keeping Monish (who s only skill is to divest companies), spin co, chemical operation distancing, and the scaling down of remain co.
My overly-pessimistic take is consistent with the previous post. C-suite has no idea what to do at this point, the board won’t act on a ceo who has failed at most every turn (certainly not even close to all his fault), so the company (remain co) will continue to just death spiral and be broken up into pieces. Spin co is not set up to succeed as a stand alone with almost zero synergies so the pieces will started splitting off within 24 - 36 months of spin.
Management is the number one reason employees are leaving to different jobs at my plant. People love the employees they work with but management and hr is just awful. 3M needs to clean house at the lower level.
THEY DON'T NEED TO GROW, 3M WILL BE A GOING CONCERN IN 5 YEARS, ALL GOOD THINGS COME TO AN END, SPINCO WILL SET UP AND BE SOLD OFF AFTER 2 YEARS AND PARENTCO WILL BE SOLD OFF IN PIECES OVER THE NEXT FIVE YEARS,