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Multinational conglomerate 3M has recently fired Michael Vale, who has been their group president and chief business officer for years. The company revealed the news by stating that the action was taken due to "inappropriate personal conduct and violation of company policy." However, they noted that the violation wasn't related to the company's operations or financial performance.
3M refused to disclose anything about Vale's action leading to his removal but they stated that they did not take much time in making the decision. They have now started searching for a replacement.
Until someone else joins the same position, the head of all the departments would report directly to the Chief Executive Officer Mike Roman.
When did Michael Vale join 3M and how much did he earn?
Michael Vale joined 3M around 30 years ago and he was promoted to the group president and chief business and country officer last month. He was responsible for monitoring the operations of the company's business groups including safety and industrial, consumer business, and transportation and electronics.
While Vale was getting a promotion, Mike Roman revealed to the analysts that it was associated with implementing the company's new strategies and priorities. With these, the company aimed to focus more on the supply chain and high-growth market segments.
Michael Vale received the highest pat among all the executives and his salary increased by around 12% in 2021. His compensation was reported to be around $4.2 million last year. Before joining the new position, Vale was the group president for the safety and industrial business and the executive president of the healthcare business group.
During the Covid-19 pandemic, 3M did everything they could in their power to offer help to everyone and Vale equally contributed to it where he collaborated with all the groups to speed up the production of respirators and ensure the safety of the frontline workers.
Who is Michael Vale?
According to Michael Vale's LinkedIn profile, he went to Yale University where he acquired his Bachelor of Science, Chemistry in 1988. He then pursued his Ph.D. from the Massachusetts Institute of Technology in 1992.
Vale joined 3M in 1992 as a Senior Research Chemist in the Visual Systems Division. He held the position for three years and was promoted to product development engineer in 1996.
Vale held several other positions in the company which include project development specialist, laboratory manager/product manager, manufacturing operations manager, manufacturing director, general manager managing director, and executive vice president. Mike has also been a board member of The Toro Company and a former trustee of the Science Museum of Minnesota.
Michael has been fired from 3M and this is expected to affect the future direction and management strategy of the company. Before his removal from 3M, Michael also resigned as a board member of The Toro Company.
3M is known as the producer of around 60,000 products in various sections. These include laminates, personal protective equipment, paint protection films, medical products, car-care products, healthcare software, and more.
