I'm still going with the movie quote:
"You know, in certain older civilized cultures, when men failed as entirely as you have, they would throw themselves on their swords."
Then again, the BOD clearly has no shame or else they would have already resigned and taken Roman with them.
How are you continuing to tolerate a ceo who tolerates and defers to a toxic misogynist cfo with these results?
"I just want to congratulate you for a job well done! wait...what was the goal again?"
Is it just a coincidence that Gibbons‘s close relative works for Kearney?
3M Science, Applied to Life is now 3M Silence, Applied to Strife.
The strength that 3M has over other conglomerates is that our products are tied together closer in terms of scales of efficiency in product development as well as manufacturing technologies. These things are 3M's best strength and best kept secret to competitiveness and quality. This is not like GE Plastics, for example. Many of the products and manufacturing processes within 3M Medical are used within 3M as a whole. Get back to investing in innovation, rather than thinking that breaking things apart like GE is going to add value. You're just wasting valuable time and money with the split.
Given there have been thousands of job eliminations over the past few years, why is 3M stock sinking lower and lower? Weren't the job eliminations supposed to have the opposite effect? This is embarrassing.
What did Dr. Vale do? 😉
What do you spend all the millions of dollars of salary on?
Why is Tire Man allowed to stay? The constant threat of doing something or you will be fired. If other leaders in the company would send emails asking for action by deadline or face termination, it would not be accepted. He is a fraud with no original ideas. We can cut costs just the same without him.
It would be a straightforward question. What have you learned? Victory is more fun, but defeat can be a better teacher, provided you are willing to listen to the lessons it has to impart. I can forgive recent failures, provided there is some indication that senior leaders have learned from their missteps and can develop a new plan.
From the mid-level ranks, it appears we cut heads and tell the remainder that we will find efficiencies through automation and standardization.
Unfortunately, when those two corporate buzzwords find less efficiency than senior leaders expected, the impact of the missing workers invariably harms our customer relationships and puts further downward pressure on sales. Sadly, we have repeated this pattern for multiple years now.
I expect more visionary creativity to justify the size of their compensation, and the absence of creative solutions makes me want to know what the last few years have taught them. Because from rom my chair, it does not appear they have learned anything.
You All Fired
Why would I bother to say anything?
It's clear that 3M leadership is failing by any traditional estimation, and yet the board does nothing.
There's a strategy there, and they're executing on it.