The only thing it has achieved is making a bunch of people VPs and paying them extra $$ every year.
It is not going to increase sales or introduce innovative products in any meaningful way. Haven't seen any reorg done in the last 15 years that had any positive impact in this enterprise.
I wholeheartedly agree, @jt+1jvxj2t2n. No point but cutting the workforce and promoting useless people. There has never been any vision or strategy behind any of the reorgs.
There’s going to be a new ASIA VP for supply chain. External hire. Comes in with fresh ideas and likely more cuts again.
Reorgs are the same as cats in a litter box -moving things around to conceal what they’ve done.
I worked there for 25+ years and re orgs were a yearly occurrence. It boils down to the upper management trying to show they are actually doing something but yearly re orgs wouldn’t be necessary if that were the case. Just part of the continual shell game!
@ke
Even though they were Mcnerney era hires, both Patrick Campbell (HR director) and Joe Harlan were very good executives under Buckley. Harlan may have gotten the CEO job but after two outside hires, it seemed the Board want an internal hire and Inge got promoted. Then the disastrous Roman Empire followed Inge. BB is the classic breakup artist who cares little for company culture nor traditions (hence his derisive reference to Minnesota Nice and everyone gets an A).
The "growth" BB brags about is a mirage. If growth is happening, then why are so many sites being forced to take mandatory vacation because of slowing business conditions. Sad to say, but 3Ms name may carry on with one of the spins but the rest of the pieces will be sold or merged with competitors.
Agree about Buckley. He steered us through the 2007-8 era effectively too, and we can out stronger relative to other companies after.
The only good visionary CEO that 3M has had this entire century was Buckley. Mcnerney tried to impose sick sigma on the 15 percent rule. He later nearly destroyed Boeing. Inge was a huge disappointment but was chosen as a 3M insider. His borrowing of billions to goose the share price to scare off activist investors who wanted to break 3M up worked - until Mike (HC spin) and BB (turning 3M into a bunch of 0.5 and 0.6Ms) did what activists would have done.
The innovation factory has been spayed and neutered. Reorgs at least keep Wall Street happy.
GLTA and so sad to see what is happening to a Minnesota icon.
Big important businessmen with no clue about innovation doing nothing but shuffling the deck hoping for a different outcome. A checker game in a world of chess.