3M restructures divisions, announces executive changes

MINNEAPOLIS, Minn., Wed Oct 3, 2012 – 3M Co. said Wednesday it had restructured its operations into five major divisions, down from six, and set up new roles for some of its senior executives.

The company, which said Monday it was buying Ceradyne Inc. in its biggest deal since naming a new chief executive officer in February, will now comprise of consumer, industrial, health care, safety and graphics, and electronics and energy divisions.

The new structure is effective immediately, with segment reporting under the new organization effective Jan. 1, 2013.

“By building scale more broadly, we create critical mass in each business group to take full advantage of innovation and commercialization opportunities,” Inge Thulin, 3M’s chief executive, said in a statement.

The new safety and graphics division will be led by Executive Vice President Julie Bushman, former head of 3M’s safety, security and protection services business.

Executive Vice President Mike Kelly, former head of 3M’s display and graphics business, will lead the new electronics and energy group.

The industrial group will be headed by Executive Vice President Brad Sauer, former head of 3M’s health care business.

Dow Chemical to restructure business make-up

MIDLAND, Mich., Tue Sep 4, 2012 – Dow Chemical Co. said it will rejig its business structure and appoint four business presidents who will be accountable for the company’s operations.

The company said it will eliminate the current business division structure effective immediately, and move to a global business unit model that will have business presidents.

The business presidents, who will be named later this week, will report to a four-member executive committee that includes CEO Andrew Liveris and CFO Bill Weideman.

Shares of Dow Chemical closed at $29.31 on Friday on the New York Stock Exchange.