Take a quick listen to a former investor on why he exited his 3M investment in 2019. Commentary starts at 10:43 & lasts about 2 minutes (link should go to 10:43 mark).
https://youtu.be/PZy9-4Z_4i8?t=643
Systemic problems with 3M are absolutely Roman's fault. The main job of a CEO is to allocate capital - whether that is financial capital and/or human capital. Roman only knows how to cut human capital & appeal on Mad Money for higher stock price. SELL SELL SELL!
B b b b buuuuut someone in segment marketing did a 100 pg ppt deck that said those were great deals!!!
Right. Most of the SVP and other CoC including CEO are technical engineering types that have never had practical business experience. Nice PowerPoints though.
Anyone soccer fan of Man Utd here?
The 3M now is like the MU under Ole. Lack of leadership with poor players (ie executives SVPS etc)
Need to change the coach and players. And VIOLA!
What capable person wants to give Roman a pass ?
Really nice find. Great explanation by the speaker on why they dumped 3M.
I sold all ESPP shares owned for greater than two years 1-2 times per calendar year. Still holding the bag on mid-2020 to Q3 2022 purchases.
Worlds most ethical company.
Board should have acted years ago.
Wow, great post!
Walk these clowns in leader, ship out the door.
Got out in 2019 myself and never looked back
Great find. Kudos to that guy for having the foresight to get out in 2019.
Wow. Just crazy!!