Suzan Kereere elected to 3M Board of Directors

3M has announced that Suzan Kereere, Head of Global Business Solutions at Fiserv, Inc., has been elected to 3M’s Board of Directors, effective February 10, 2022. In connection with Ms. Kereere’s election, the Board of Directors increased its size from 12 to 13 members.

Kereere has over 20 years of experience in leading global businesses around the world, including in Europe, Australia, Asia and North America. She currently leads Global Business Solutions at Fiserv, a fintech and payments company with solutions for banking, global commerce, merchant acquiring, billing and payments, and point-of-sale. Kereere previously served as Fiserv’s chief growth officer, leading strategy and business development to enhance client value and accelerate growth. 

Prior to Fiserv, she held executive leadership roles in global merchant sales and acquiring at Visa from 2016 to 2021, which included scaling Visa’s value-added services offerings with new client segments, as well as leading small business recovery efforts over the course of the pandemic. Kereere served in leadership positions at American Express from 1988 to 2016, including as head of its U.S. National Merchant Business and Global Network Business. Throughout her career she has led successful transformation, sales and customer initiatives at Fortune 100 companies across global business lines and regional high-growth start-ups. Kereere is a longtime advocate for equity and inclusion in business and society. She earned a bachelor’s degree in Economics from Tufts University, and an M.B.A. from Columbia University Business School.

“Suzan is a highly accomplished business and technology leader who has lived and led teams around the world, with a proven track record of maximizing value for customers and driving growth, and championing a more diverse, inclusive culture in the workplace,” said 3M chairman and CEO Mike Roman. “We are very pleased to welcome her to our board, where she will bring invaluable insight, perspective and leadership.”

Source: 3M

3M Well Positioned for Long-Term Sustainable Growth and Value Creation

At its Virtual Strategic Update and 2022 Outlook Meeting, 3M announced its 2022 guidance and highlighted its plan for sustainable long-term growth and shareholder value creation. 3M is expecting total sales growth of 1% to 4%, which includes organic sales growth of 2% to 5%, earnings per share (EPS) of $10.15 to $10.65, and robust cash flow. Included in this guidance is an anticipated decline in COVID-19-related disposable respirator demand in 2022, resulting in a headwind to organic growth of 2% and earnings per share of 45 cents.

“3M is powered by purpose, unlocking the power of people, ideas, and science, to re-imagine what’s possible and create what’s next,” said 3M chairman and CEO Mike Roman. “We are well positioned for 2022 and beyond because of our customer-inspired innovation, industry-leading businesses, fundamental strengths, and world-class capabilities enabling us to win in fast-growing markets.

“Building upon 9% organic growth in 2021, we expect to continue growing above the macro environment, while generating robust cash flow, expanding margins and strengthening our balance sheet. We continue to drive value through our strategic priorities: accelerating innovation, actively managing our portfolio, transforming our operating model with new digital capabilities and investing in our people and culture. In addition, we continue to advance our leadership in ESG, including a $1 billion commitment over 20 years to achieve carbon neutrality, reduce water use and improve water quality along with reducing the use of plastics.”

3M Provides Strong 2022 Financial Guidance

3M’s full-year expectations for 2022 are:

  • 1% to 4% total sales growth
  • 2% to 5% organic sales growth
  • Earnings per share of $10.15 to $10.65
  • Operating cash flow of $7.3 to $7.9 billion contributing to 90% to 100% free cash flow conversion
  • In 2022, 3M plans to invest approximately $4 billion in the combination of research and development and capital expenditures

3M Invests in Future of Manufacturing in Cottage Grove, Minnesota

The company announced an investment of $165 million to improve water quality and reduce water use at its manufacturing facility in Cottage Grove, Minnesota. In August of 2021, the company announced it would no longer use an incinerator to process waste in Cottage Grove. 3M has fully transitioned its waste management at the site to an experienced third party, and as a result, will reduce its on-site energy use by an estimated 25%. The technology investment in Cottage Grove is another step forward in the company’s $1 billion, 20-year commitment to ambitious environmental goals, which include improved water quality, reduced water use and reduced plastic use – as well as achieving carbon neutrality by 2050.

“3M continues to proactively evolve our manufacturing capabilities to better serve our customers, enhance our ability to deliver science at scale and advance our commitment to environmental stewardship,” said Roman. “This investment in Cottage Grove is another example of how 3M invests in and partners with the communities in which we operate.”

Source: 3M

3m Reveals Its Take on Top Trends in Science, Technology and Design via 3M Futures

3M is launching 3M Futures, a new platform showcasing five global science and technology trends shaping the world today — and the future of tomorrow. The platform explores each topic alongside commentary and perspectives from 3M experts, scientists, engineers and designers at the forefront of their fields. 3M Futures also features data from global, third-party research conducted across 11 countries to understand perceptions of these top science, technology and design trends.  

The 3M Futures topics for 2022 are:

  • Augmented Reality (AR) and Virtual Reality (VR): Mixed reality is already changing the way we live, work and entertain — the metaverse is poised to change our perceptions of reality.
  • Artificial Intelligence (AI): How artificial intelligence and machine learning are revolutionizing everything from entertainment to business but require conversations about broader implications and ethics.
  • Sustainable Materials: The circular economy is introducing innovation in material science and design while disrupting industry, ushering in a more sustainable future.
  • The New Paradigm — A Pandemic Aware World: The pandemic has created a paradigm shift in how we interact. From telemedicine and health-conscious design to remote work, the new abnormal is here to stay.
  • Equity — Through Science and Technology: The greatest innovation comes from diverse thinkers. Equity, representation and equal access to science and technology learning, like minority representation and STEM in youth, are paramount to solving the challenges of today — and tomorrow.

“Every day, 3Mers around the world are unlocking the next phase of what’s possible and exploring the latest trends in science and technology,” says Kevin Gilboe, head of 3M Design, International. “3M Futures is a great opportunity for us to showcase the broad ways 3M is helping to shape the future — developing, designing and engineering cutting-edge solutions within the most relevant global trends, while profiling the incredible talent across our company who are experts in their fields.”

3M Experts

The expert contributors chosen to participate include an array of 3M scientists, engineers, designers and other leaders at the forefront of their industries. From artificial intelligence to equity, each is passionate about their field and has a personal interest in broad applications of the relevant technology and science.

3M Futures Survey

The 3M Futures Survey uncovers global perceptions of future technologies, with results from 11 countries: Brazil, Canada, China, France, Germany, India, Japan, Mexico, UK, USA and South Korea. The survey uncovers what respondents believe future innovation should focus on across the globe and the ways they have — or have not — directly interacted with the technologies referenced across the five core trends.

Key findings include:

  • Science and technology: Public health, humanitarian crises, extreme weather crises, a cure for Alzheimer’s and ecological disasters are seen as the top problems to focus on over the next 5 years.
  • Mainstream Virtual Reality: Virtual reality is expected to be a normal part of our everyday lives sooner than other advancements, especially in gaming and entertainment.
  • AI interest and concerns: The survey results showed that while people are excited about AI, many are concerned about data privacy and want more transparency on how the technology is being used in society.
  • Sustainability – top environmental threats: Respondents feel single-use plastics are a bigger threat to the environment than fossil fuels and fast fashion.
  • Real life vs. tech: In the shadow of the pandemic, tech-driven innovations are being met with some resistance as many are trying to decrease tech in their life and seek in-person socialization and hobbies.

Following its launch, 3M Futures will feature ongoing stories, VR demos and content throughout the year. Insights from the survey will inform exploration of future topics and content. To download full 3M Futures survey data, including by country and infographic breakdowns, visit: 3M Futures Resource Center

3M Futures Survey Methodology

Global business intelligence company Morning Consult conducted research on behalf of 3M among an audience of n=22,001 Adults ages 18-64 from the US, UK, Mexico, Brazil, Canada, Germany, France, China, India, Japan, and South Korea between November 17- Dec. 18, 2021. The interviews were conducted online, and the data was balanced across gender, age, income, and region. Results from the survey have a margin of error of +/- 1%.

Source: 3M