3M announced on Wednesday that Inge Thulin, the company’s chief operating officer, has been elected president and chief executive officer, effective Feb. 24.
Thulin will replace George Buckley as chairman, president, and CEO of the company — positions he has held for the last six years. Buckley will remain chairman of the board until May 8 and then will retire at the beginning of June.
On May 8, the board intends to elect Thulin, who has served as the company's COO since May, to the position.
“Inge is a proven leader with a terrific blend of strategic, business and analytical skills, and an excellent record of delivering both sales growth and operational efficiency in a wide range of global businesses,” said Vance Coffman, the board's lead director.
Shares of 3M edged higher in early trading.