Less than three weeks after promoting Michael Vale to a new role, 3M has fired the longtime senior executive for inappropriate personal conduct and for violating company policy.
3M fires longtime executive for inappropriate personal conduct
Michael Vale had been with the company for more than 30 years, most recently as its group president and chief business and country officer.
May 15, 2023 at 3:01PM
The Maplewood-based manufacturer did not elaborate on the cause but said the dismissal, effective as of this past Friday, was unrelated to the company's operations and financial performance.
"When 3M learned of and verified the violation, it took immediate action," the company said in a news release.
A company spokesman did not provide further comment. Vale did not respond to requests for comment.
Vale had been with 3M for more than 30 years, most recently serving as its group president and chief business and country officer, reporting directly to CEO Mike Roman.
He had been promoted to the new role last month with responsibility for three of the company's four business groups: safety and industrial, transportation and electronics, and consumer. He was also responsible for country governance and driving growth in emerging markets.
As the company announced a significant restructuring last month, including cutting 6,000 jobs, Roman told analysts Vale's new position was related to driving the company's strategies and priorities forward in areas such as supply chain and its focus on high-growth market segments.
"When I talked to Mike about stepping into this leadership role, it's about really ensuring success as we drive these actions and changes forward, position us for the future," he said on a conference call.
Vale was among the five highest-paid executives at 3M last year. A year ago, the company raised his base salary by 12%. His total compensation in 2022 was $4.2 million, including a salary of $802,00 as well as $2.8 million of previously issued equity awards that he either exercised or that vested during the year.
Through the years, Vale served in a variety of roles both in the U.S., and abroad for 3M. He was previously group president of the safety and industrial business as well as executive president of its health care business group.
His LinkedIn page says he played a "crucial role" guiding 3M's response to the COVID-19 pandemic. "During this challenging time, I worked alongside dedicated teams to accelerate respirator production, ensuring the protection of frontline workers," according to his profile.
Vale also served on the board of directors for Bloomington-based Toro. On Monday, he resigned from the board effective immediately, according to a public filing.
3M said it has started a search for his successor. In the meantime, the business leaders who previously reported to Vale will now report directly to the CEO.
The maker of Scotch tape, N95 respirators and air filters has been struggling with declining sales and costly litigation related to its allegedly defective earplugs and PFAS, also known as forever chemicals.
Last month, it announced an additional 6,000 job cuts on top of previously announced layoffs, as part of a sweeping restructuring and cost-cutting plan. In total, the company plans to reduce its global workforce of about 90,000 by about 10% this year, including 1,100 jobs at its Maplewood headquarters.
By the end of this year, 3M also plans to spin off its health care division, which accounts for about a quarter of its $34 billion in annual revenue.
Star Tribune staff writer Patrick Kennedy contributed to this report.
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