https://investors.solventum.com/news-events/press-releases/detail/135/solventum-reports-third-quarter-2025-financial-results
Reeks of Inge's $500M/year claimed savings which never manifested. SAP started circulation at 3M in something like 2010, with the fever dream reaching maximum levels in perhaps 2014-2018. They had mandatory "Here, you matter" meetings and plastered the walls of the Quad with SAP propaganda (graphics of people holding a red ball and "You play a part" or whatever nonsense).
3M had a blurb like this in 3 consecutive Annual Reports (2015-2017), then it was dropped into a memory hole starting in 2018. As of spin-off, 3M still wasn't fully deployed. We are already beginning to realize productivity gains from Business Transformation, which will increase in 2017 and beyond. By 2020, we expect it will result in $500–$700 million in annual operational savings and another $500 million reduction in working capital.https://www.annualreports.com/HostedData/AnnualReportArchive/3/NYSE_MMM_2016.pdf
My gut is that Transform for the Future is attempting to juice the stock based on returns that will never manifest. I wouldn't be surprised if it is a rebrand of 3M's SAP promises, as the whole "Transform for the Future" verbiage is so vague. What are they spending $500M on, and where will the $500M/year come from? Could they really mean "We're going to spend $500M to complete 3M's partial SAP roll-out" and re-promising the same savings as 3M did in 2015?
I noted that "innovation" is put last, while redundant terms (cost structure and operational efficiency) are up front. Only savings are cited, not increased sales or new products (who are our "customers," again?). Doesn't inspire confidence that we'll be, you know, actually improving patients' lives. Feels like monkeying with financial levers to "create value" (C-suite money bags) where there is none.
Curious what others think.