3M, the American multinational company dedicated to researching, developing, manufacturing and marketing diversified technology products, announced that Michael Vale was fired from the company effective May 12, 2023.
“His dismissal is due to inappropriate personal conduct and violation of company policy, not related to the operations and financial performance of the company,” says a brief statement from the company, without specifying the reasons for the separation of the executive.
“When 3M found out and verified the violation, it took immediate action,” highlights the letter from the company that is based in Minnesota, United States.
The company has already started the search for a successor to Mr. Vale, who was serving as group president and commercial director. The company notes that effective immediately, 3M’s Security & Industrial, Consumer, and Transportation & Electronics leaders will report to 3M President and CEO Mike Roman.
Mr. Vale’s activities included oversight of the security and industrial, transportation and electronics and consumer business units, as well as governance of emerging markets and countries.
The company said it took immediate action when it learned of Vale’s violation of company policy, which is striking because the separation was not justified by problems in the company’s operations or financial performance. company.
3M recently announced that it would lay off around 6,000 jobs worldwide to cut the company’s costs, compounded by the unexpected departure of Mr. Vale.
“In the first quarter, we continued our relentless focus on serving customers and aggressively managing costs,” 3M Chairman and CEO Mike Roman said at the time.
3M is taking restructuring steps that are intended to make 3M “stronger, more efficient and more focused.” That means a structural reorganization that will reduce the size of the company’s corporate center, simplify the supply chain, streamline 3M’s geographic footprint, reduce management levels and further align go-to-market business models with customers.
These restructuring actions are expected to affect all functions, businesses and geographies and will impact approximately 6,000 positions globally, in addition to the reduction of 2,500 global manufacturing positions announced in January 2023.
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