ST.
PAUL, Minn., May 9, 2023
/PRNewswire/ -- At today's Annual Meeting of Shareholders,
3M (NYSE:MMM) highlighted its strong
portfolio of leading businesses, leading innovation in material
science, and significant actions taken to drive performance for
shareholders and customers in a dynamic environment.
"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 serving our customers, investing in
innovation, and taking important actions to drive performance in an
uncertain macroeconomic environment. The changes we are making will
improve our performance and ability to deliver for customers and
shareholders."
Preliminary Shareholder Voting Results
3M shareholders today voted on four business items:
1) Shareholders elected 10 directors for one-year terms
that expire at the company's 2024 Annual Meeting:
- Thomas "Tony" K. Brown, retired group vice president, Global
Purchasing, Ford Motor Company
- Anne H. Chow, retired CEO,
AT&T Business
- 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
- Suzan Kereere, head of Global Business Solutions, Fiserv,
Inc.
- Gregory R. Page, retired
chairman of the board and CEO, Cargill, Incorporated
- Pedro J. Pizarro, president and
CEO and director, Edison International
- 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 2023.
3) Shareholders approved, on an advisory basis,
executives' compensation as described in the proxy statement.
4) Shareholders approved, on an advisory basis, the
frequency of every one year in conducting an advisory vote on
executive compensation.
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, international trade,
geopolitical, capital markets and other external conditions and
other factors beyond the Company's control, including inflation,
recession, military conflicts, natural and other disasters or
climate change affecting the operations of the Company or its
customers and suppliers; (2) risks related to unexpected events
such as the public health crises associated with the coronavirus
(COVID-19) global pandemic; (3) foreign currency exchange rates and
fluctuations in those rates; (4) risks related to certain
fluorochemicals, including liabilities related to claims, lawsuits,
and government regulatory proceedings concerning various
PFAS-related products and chemistries, as well as risks related to
the Company's plans to exit PFAS manufacturing and discontinue use
of PFAS across its product portfolio; (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,
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 and service
offerings; (8) the availability and cost of purchased components,
compounds, raw materials and energy due to shortages, increased
demand and wages, supply chain interruptions, or natural or
other disasters; (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
strategic events resulting from portfolio management actions and
other evolving business strategies; (11) operational execution,
including the extent to which the Company can realize the benefits
of planned productivity improvements, as well as the impact of
organizational restructuring activities; (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; (14) tax-related
external conditions, including changes in tax rates, laws or
regulations; (15) matters relating to the proposed spin-off of the
Company's Health Care business; and (16) matters relating to the
voluntary chapter 11 proceedings of the Company's subsidiary Aearo
Technologies and certain of its affiliates. 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 herein as a result of new
information or future events or developments.
About 3M
3M believes science helps create a brighter world
for everyone. By unlocking the power of people, ideas and science
to reimagine what's possible, our global team uniquely addresses
the opportunities and challenges of our customers, communities, and
planet. Learn how we're working to improve lives and make what's
next at 3M.com/news or on
Twitter at @3M or @3MNews.
Please note that the company announces material financial,
business and operational information using the 3M investor relations website, SEC filings, press
releases, public conference calls and webcasts. The company also
uses the 3M news center and social
media to communicate with our customers and the public about the
company, products and services and other matters. It is possible
that the information 3M posts on the
news center and social media could be deemed to be material
information. Therefore, the company encourages investors, the media
and others interested in 3M to review
the information posted on 3M's News Center and the social media
channels such as Twitter @3M or @3MNews.
Contacts
3M
Investor Contacts:
Bruce
Jermeland, 651-733-1807
or
Diane Farrow, 612-202-2449
or
Media contact:
Tim Post, tpost3@mmm.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/3m-annual-meeting-highlights-business-portfolio-innovation-and-actions-to-drive-future-performance-301819718.html
SOURCE 3M