3M Appoints Bill Brown as CEO, Shares Surge

William M. Brown, former CEO of L3Harris Technologies, is set to lead 3M starting May, succeeding Michael Roman who transitions to executive chairman.

William M. 'Bill' Brown, previously CEO of aerospace and defense firm L3Harris Technologies, has been appointed as the new CEO of 3M, effective May 1.
Michael Roman, the outgoing CEO, will become 3M's executive chairman, with the company waiving the mandatory retirement age for both Roman and Brown.
3M's stock rose 3.8% following the announcement, recovering from a significant loss in value during Roman's tenure amid legal challenges and settlements.
Brown's leadership at L3Harris Technologies and his educational background in mechanical engineering from Villanova University are highlighted as key factors for his selection.
The CEO transition occurs as 3M faces ongoing legal battles, including a $10.3 billion settlement over 'forever chemicals' and a $5.5 billion settlement related to military earplugs.