3M CEO says innovation fueling company's strong performance

3M chairman, president and CEO George W. Buckley told shareholders at 3M’s annual meeting on May 11 in St. Paul, Minn., that the company’s unwavering commitment to innovation is re-energizing new product development and transforming 3M into a stronger company.

“During tough economic times, our investment in research and development remained a top priority,” said Buckley. “Our continued focus on innovation combined with the enthusiasm, creativity and hard work of our people is creating a stronger and faster-growing company.”

Buckley highlighted the company’s more than $1 billion investment in R&D, the formation of a Renewable Energy business and new laboratory expansions in China, Russia, India, Singapore, and Poland as examples of 3M’s strategy to drive growth through innovation.

The meeting showcased the reinvention of abrasive materials, and advancements in mobile projection and electronic stethoscope technology to illustrate a resurgence of innovation. “3M’s technology in conjunction with the creativity of our employees have brought the magic back and created a more entrepreneurial enterprise,” he added. “A technological forest fire has now been reignited at 3M.”

Buckley applauded the accomplishments of 3M’s International Operations and reaffirmed a commitment to investing in emerging markets citing recent investments in China and India.

About 3M
A recognized leader in research and development, 3M produces thousands of innovative products for dozens of diverse markets. 3M’s core strength is applying its more than 40 distinct technology platforms – often in combination – to a wide array of customer needs. With $23 billion in sales, 3M employs 75,000 people worldwide and has operations in more than 65 countries.