3M Board Member Robert S. Morrison to Serve as Interim CEO
3M announced that Robert S. Morrison, retired vice chairman, PepsiCo Inc. and former chairman and chief executive officer of Quaker Oats Co., has been named interim chairman and chief executive officer, effective immediately. Morrison's appointment follows the announced departure of former 3M Chairman and CEO W. James McNerney, Jr.
Morrison said that the company is initiating a thorough and expeditious selection process that will consider both internal and external candidates. The selection committee will be chaired by 3M Board member Vance D. Coffman, recently retired chairman and CEO of Lockheed Martin Corp.
"While the company has developed strong internal candidates in recent years, the Board believes that it is important to consider all the possibilities in making this decision," he said.
Morrison, who joined the 3M Board of Directors in 2002, praised the company's strong performance, sound operating strategies and expressed his confidence in the company and its leadership.
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