HomeMy WebLinkAbout2014 06-08 3M names new finance chief PIONEER PRESS 3M names new finance chief
Dow Jones Newswires TwinCities.com-Pioneer Press
Posted:Sun Jun 08 23:01:00 MDT 2014 TwinCities.com
3M Co. on Monday said it had appointed Nicholas Gangestad to take over as the company's chief
financial officer, effective immediately.
Gangestad replaces David Meline, who is leaving to become CFO at another "large publicly traded
company," 3M said. It didn't disclose the other company.
Gangestad has worked for 3M for 27 years, recently serving as its corporate controller and chief
accounting officer for the past three years, the company said.
"Nick is an outstanding and respected financial leader amongst a very strong 3M finance team,"
Chairman and Chief Executive Inge G. Thulin said in a release. "He has a proven track record of success
and is ideally suited for the 3M chief financial officer role."
Meline, meanwhile, had worked with 3M since 2008, when he became the controller and accounting chief.
He has served as CFO since 2011.
The Maplewood-based company produces brands such as Post-it Notes and Scotch tape, as well as
other products used for industrial and consumer applications.
In April, 3M posted a boost in profit for the first quarter as its electronics and energy division posted
operating-income growth on strong demand for optical films.
The gains were offset somewhat by harsh winter weather in the U.S. weighing on office-supply stores'
sales and delaying construction projects that rely on 3M-produced materials.