3M is in search of a new chief financial officer.
The industrial, safety and consumer supplies manufacturing conglomerate announced July 10 that its President and CFO Monish Patolawala is resigning effective July 31, and food and agricultural ingredients producer ADM announced his appointment as CFO the same day.
Patolawala has been 3M’s CFO since July 2020 after serving the previous 10 years as CFO at GE Transportation. He was named 3M’s company president in 2023.
“It has been a privilege to work as part of 3M’s leadership team and I am proud of our accomplishments,” said Patolawala said in a 3M news release. “3M is well positioned for success and this is the right time for me to transition to a new opportunity.”
3M said it has initiated a CFO succession process.
Patolawa’s departure announcement comes less than 2 months after 3M CEO Bill Brown began his tenure with the company on May 1.
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