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3M Deepens Bench, Fills CEO, CFO And Other C-Suite Positions At Healthcare Spinoff

Published 22/08/2023, 17:39
© Reuters. 3M Deepens Bench, Fills CEO, CFO And Other C-Suite Positions At Healthcare Spinoff
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Benzinga - by Lekha Gupta, Benzinga Editor. 3M Co (NYSE: MMM) set several leadership positions for its independent healthcare company post-spin-off.

The company named Bryan C. Hanson as CEO of the independent healthcare company, post-spin-off.

Hanson will join 3M on Sept. 1. He has last worked at Zimmer Biomet Holdings Inc (NYSE: ZBH) as president and CEO.

Separately, 3M named Monish Patolawala as president and CFO, also effective Sept. 1.

Last year, 3M announced its intention to spin off its Health Care business, resulting in two public companies pursuing their respective growth plans.

3M's Health Care Business Group generated revenues of $8.4 billion in 2022.

In July, the company reported second-quarter 2023 adjusted net sales of $7.99 billion, beating the consensus of $7.87 billion, and adjusted EPS was $2.17, which came above the consensus of $1.72.

Also Read: 3M Is Open For Business, And For New Stock Buyers

Price Action: 3M shares are trading lower by 0.78% at $98.47 on the last check Tuesday.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

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