3M CEO Outlines Strategies for the Future and Sets Five-Year Financial Targets

At a meeting of institutional investors and analysts in St. Paul today, 3M business leaders, including chairman, president and CEO Inge Thulin, outlined the company’s vision and strategies to ensure continued world-class performance.

Those strategies include: expand 3M’s relevance to customers and presence in the marketplace; gain market share and accelerate penetration; invest in innovation; achieve regional self-sufficiency; build high-performing and diverse global talent; and drive consistent and superior operational excellence.

Thulin will also present the company’s five-year financial objectives:

• 9 to 11% growth in earnings per share
• 4 to 6% organic revenue growth
• More than 20% return on invested capital
• 100% free cash flow conversion

In addition, Thulin will announce an increase in 3M’s annual R&D investment to 6% of sales by 2017, emphasizing the importance of innovation to 3M’s future.

“Innovation is at the center of our plan, so it is essential that we strengthen our commitment to R&D,” said Thulin. “I am confident that 3M innovation, along with world-class talent, strong R&D and manufacturing capabilities, unparalleled global reach, and our unrelenting focus on operational excellence, will drive future success for our company and our shareholders.”