Tom Sweet elected to 3M Board of Directors

Rhea-AI Summary

3M (NYSE: MMM) welcomes retired Dell Technologies CFO Tom Sweet to its Board of Directors, increasing the board's size from 11 to 12 members. Sweet brings 26 years of leadership experience and financial expertise, having overseen various aspects of Dell's finance function and corporate strategy.

Positive

• Tom Sweet's election to 3M's Board of Directors brings valuable financial expertise and strategic leadership to the company, enhancing its global manufacturing leadership.
• The addition of Tom Sweet to the board reflects 3M's commitment to strengthening its leadership team and leveraging expertise from diverse industry backgrounds.

Negative

• None.

ST. PAUL, Minn., Nov. 7, 2023 /PRNewswire/ -- 3M (NYSE: MMM) announced today that Tom Sweet, retired Chief Financial Officer (CFO), Dell Technologies, has been elected to 3M's Board of Directors, effective November 6, 2023. In connection with Mr. Sweet's election, the Board of Directors increased its size from 11 to 12 members.

Mr. Sweet served as CFO of Dell Technologies from 2014-2023, retiring after 26 years of leadership at the leading enterprise technology company. As CFO, he oversaw all aspects of the company's finance function, including accounting, financial planning and analysis, tax, treasury and investor relations, as well as global operations, Dell Financial Services, and Dell Technologies Capital. He also led corporate strategy, partnering closely with the office of the CEO to develop and execute a long-term growth and value creation strategy for the company.

Mr. Sweet joined Dell in 1997 and held various leadership positions before assuming the CFO role, including vice president of corporate finance, controller, head of internal audit, and chief accounting officer. He oversaw external financial reporting in the years before Dell's historic five-year shift to privatization and served in sales leadership roles in education and in various corporate business units.

Prior to Dell Technologies, Tom was vice president of accounting and finance for Telos Corporation and spent 13 years with Price Waterhouse providing audit and accounting services to the technology industry.

Tom received a bachelor's degree in business administration from Western Michigan University and is a Certified Public Accountant. He serves on the board of directors of Trimble, an industrial technology company, and on the Salvation Army of Central Texas Advisory Board.

"We are very pleased to welcome Tom to 3M's board as a proven leader who has helped create value through strategic planning and operational execution throughout his career," said chairman and CEO Mike Roman. "Tom's deep financial expertise and leadership experience in business strategy will be invaluable to our board, and our customers, shareholders, and others who depend on 3M's global manufacturing leadership."

About 3M
3M (NYSE: MMM) believes science helps create a brighter world for everyone. By unlocking the power of people, ideas, and science to reimagine what's possible, our global team uniquely addresses the opportunities and challenges of our customers, communities, and planet. Learn how we're working to improve lives and make what's next at 3M.com/news or on Twitter at @3M or @3MNews.

Investor Contact:
Bruce Jermeland
(651) 733-1807

or

Diane Farrow
(612) 202-2449

or

Eric Herron
(651) 233-0043

Media Contact:
Sean Lynch
Slynch2@mmm.com

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/tom-sweet-elected-to-3m-board-of-directors-301980717.html

SOURCE 3M Company

FAQ

What is the significance of Tom Sweet's election to 3M's Board of Directors?

Tom Sweet's election brings valuable financial expertise and strategic leadership to 3M, enhancing the company's global manufacturing leadership.

What is Tom Sweet's background and experience?

Tom Sweet served as CFO of Dell Technologies for 9 years, overseeing all aspects of the company's finance function and leading corporate strategy.

What is the impact of increasing the board's size?

Increasing the board's size from 11 to 12 members allows for the inclusion of additional expertise and diverse perspectives in the decision-making process at 3M.