Posted August 30, 2023

3M appoints new president, CFO

Monish Patolawala has been named 3M president and chief financial officer, effective Sept. 1.

In this role, he will add responsibility for executing country prioritization and country governance to his current responsibilities, which include leadership of finance, information technology, office for separation management for the upcoming spin off of Health Care, office for project management as the company executes on announced actions, enterprise strategy, and 3M's global service centers.

"This appointment strengthens our leadership of the strategic priorities that will improve our performance and build a stronger 3M," said Mike Roman, 3M chairman and chief executive officer. "Monish is a key leader in our transformation, and I am confident in his leadership as we work together to deliver on our commitments to our customers and shareholders."

Additionally, Bryan Hanson has been named CEO of the Health Care Business Group, the independent health care company, when it is spun off from 3M. Joining the company on Sept. 1, he comes to 3M from Zimmer Biomet, a global MedTech innovator with annual revenue of more than $7 billion. He has served as president and CEO since 2017, and chairman since 2021.

Hanson has a proven executive with a track record of successfully leading, growing, and transforming global medical device businesses to achieve greater innovation, commercial success, and driving value for customers, patients, and shareholders.

"We are pleased to have Bryan join us to successfully complete the spin off of our Health Care business and build a leading independent medical technology innovation company," said Roman. "His industry expertise, ability to drive growth, and track record of building a strong culture and teams will make an immediate impact."

3M's Health Care Business Group, with $8.4 billion in sales in 2022, is a diversified health care technology leader with a deep and diverse portfolio of trusted brands, global capabilities, and leadership in attractive end market segments such as wound care, oral care, health care IT, and biopharma filtration. As a standalone business, Health Care will be well-positioned to deliver industry-leading innovation that enables better, smarter, and safer health care for patients worldwide.