ST.
PAUL, Minn., May 10, 2022
/PRNewswire/ -- At today's Annual Meeting of Shareholders,
3M (NYSE:MMM) highlighted its strong
2021 performance, ongoing focus on customers in a dynamic
environment, continued progress on sustainability goals, and
commitment to deliver growth and value in 2022.
"3M is driven by purpose, and
powered by four industry-leading businesses, unique global
capabilities, and a highly experienced and diverse team," said
3M chairman and chief executive
officer Mike Roman. "We are
relentlessly focused on innovating for our customers, while
managing supply chain disruptions, inflation and geopolitical
pressures. I am confident we will continue to grow above the macro
environment, improve our operational performance and deliver a
strong 2022."
Preliminary Shareholder Voting Results
3M shareholders today voted on five business items:
1) Shareholders elected 11 directors for
one-year terms that expire at the company's 2023 Annual
Meeting:
- Thomas "Tony" K. Brown, retired group vice president, Global
Purchasing, Ford Motor Company
- Pamela J. Craig, retired chief
financial officer, Accenture plc
- David B. Dillon, retired
chairman of the board and CEO of The Kroger Co.
- Michael L. Eskew, retired
chairman of the board and CEO, United Parcel Service Inc.
- James R. Fitterling, chairman of
the board and CEO, Dow Inc.
- Amy E. Hood, executive vice
president and chief financial officer, Microsoft Corporation
- Muhtar Kent, retired chairman of
the board and CEO, The Coca-Cola Company
- Suzan Kereere, head of Global Business Solutions, Fiserv,
Inc.
- Dambisa F. Moyo, co-principal, Versaca Investments
- Gregory R. Page, retired
chairman of the board and CEO, Cargill, Incorporated
- Michael F. Roman, chairman of
board and CEO, 3M Company
2) Shareholders ratified the appointment of
PricewaterhouseCoopers LLP as 3M's independent registered public
accounting firm for 2022.
3) Shareholders approved, on an advisory
basis, executives' compensation as described in the proxy
statement.
4) Shareholders did not approve the
shareholder proposal on environmental costs reporting.
5) Shareholders did not approve the
shareholder proposal on China
audit.
3M will disclose the final voting results on each item of
business properly presented at the Annual Meeting on Form 8-K to be
filed with the SEC.
Forward-Looking Statements
This news release contains forward-looking information about 3M's
financial results and estimates and business prospects that involve
substantial risks and uncertainties. You can identify these
statements by the use of words such as "anticipate," "estimate,"
"expect," "aim," "project," "intend," "plan," "believe," "will,"
"should," "could," "target," "forecast" and other words and terms
of similar meaning in connection with any discussion of future
operating or financial performance or business plans or prospects.
Among the factors that could cause actual results to differ
materially are the following: (1) worldwide economic, political,
regulatory, capital markets and other external conditions and other
factors beyond the Company's control, including natural and other
disasters or climate change affecting the operations of the Company
or its customers and suppliers; (2) risks related to public health
crises such as the global pandemic associated with the coronavirus
(COVID-19); (3) foreign currency exchange rates and fluctuations in
those rates; (4) liabilities related to certain fluorochemicals,
including lawsuits concerning various PFAS-related products and
chemistries, and claims and governmental regulatory proceedings and
inquiries related to PFAS in a variety of jurisdictions; (5) legal
proceedings, including significant developments that could occur in
the legal and regulatory proceedings described in the Company's
Annual Report on Form 10-K for the year ended Dec. 31, 2021, as updated by the Company's
Current Report on Form 8-K dated April 26,
2022, and any subsequent quarterly reports on Form 10-Q (the
"Reports"); (6) competitive conditions and customer preferences;
(7) the timing and market acceptance of new product offerings; (8)
the availability and cost of purchased components, compounds, raw
materials and energy (including oil and natural gas and their
derivatives) due to shortages, increased demand or supply
interruptions (including those caused by natural and other
disasters and other events); (9) unanticipated problems or delays
with the phased implementation of a global enterprise resource
planning (ERP) system, or security breaches and other disruptions
to the Company's information technology infrastructure; (10) the
impact of acquisitions, strategic alliances, divestitures, and
other unusual events resulting from portfolio management actions
and other evolving business strategies, and possible organizational
restructuring; (11) operational execution, including scenarios
where the Company generates fewer productivity improvements than
estimated; (12) financial market risks that may affect the
Company's funding obligations under defined benefit pension and
postretirement plans; (13) the Company's credit ratings and its
cost of capital; and (14) tax-related external conditions,
including changes in tax rates, laws or regulations. Changes in
such assumptions or factors could produce significantly different
results. A further description of these factors is located in the
Reports under "Cautionary Note Concerning Factors That May Affect
Future Results" and "Risk Factors" in Part I, Items 1 and 1A
(Annual Report) and in Part I, Item 2 and Part II, Item 1A
(Quarterly Reports). The Company assumes no obligation to update
any forward-looking statements discussed today as a result of new
information or future events or developments.
About 3M
At 3M, we apply science in collaborative ways to
improve lives daily as our employees connect with customers all
around the world. Learn more about 3M's creative solutions to
global challenges at www.3M.com or on
Twitter @3M or @3MNews.
Investor Contact:
Bruce
Jermeland
651-733-1807
or
Diane Farrow
612-202-2449
or
Media Contact:
Tim
Post
Tpost3@mmm.com
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SOURCE 3M