For much of its 121-year history, 3M has been a picture of stability. Now faced with multi-billion dollar payouts over PFAS contamination that could grow, the company is slashing thousands of jobs and worrying investors with lower stock prices and threatened dividends.
https://www.mprnews.org/story/2023/07/12/3m-at-a-pivotal-moment-as-it-works-to-come-back-from-litigation-layoffs
Q2 earning call will be brutal. Many misses.
Pivotal moment indeed!
But, what to pivot to?
The 3M employee experience is quickly becoming a dumpster-fire/flaming manure pile as I stand in what’s already become a quickly growing pool of vast disappointment.
3M employs 92,000 people total worldwide.
When Dr. Roman looks at the talent pipeline available for CEO, he doesn't like what he sees. Our succession plan has failed to achieve victory.
Then he has the audacity to go outside 3M to poach top talent.
And hilariously fails to achieve victory that route as well.
Let go wave #1 Master Black Belts Dr. Vale, Dr. Cesena, Dr. Hammes, and Dr. Li. Our top internal CEO candidates. I consider them 3M royalty.
At this point, I don't care if a CEO candidate has behavioral issues if he or she can turn 3M around!