3M Executive Michael Vale Fired Over 'Inappropriate Personal Conduct'

MAPLEWOOD, MN — The 3M Company announced Monday that it fired executive Michael Vale over "inappropriate personal conduct and violation of company policy."

The dismissal was unrelated to operations and financial performance, the Maplewood-based corporation said. No other details were released.

Vale worked for 3M for more than 30 years. Just last month, he was promoted to chief business and country officer.

The company has begun searching for Vale's successor. In the meantime, employees who were working directly under Vale will now report to 3M chairman and chief executive officer Mike Roman.

Monday's leadership shakeup comes weeks after 3M — which manufactures everything from Post-it Notes and duct tape to medical technology — announced a significant restructuring due to declining sales.

3M plans to lay off approximately 6,000 jobs worldwide, including 1,100 workers who report to the company's Maplewood headquarters. It expects to save between $700 million and $900 million once the restructuring is complete.

"In the first quarter we continued our relentless focus on serving customers and aggressively managed costs," said 3M chairman and CEO Mike Roman in an April 25 news release.

"Market trends were as we expected, and we made changes to improve our operations and position us for success as supply chains improve."

3M generated 8 billion year on year, which is down 9 percent from the previous time period. Its stock has fallen nearly 19 percent since the start of 2023.

The company told shareholders that the restructuring actions are intended to make 3M "stronger, leaner and more focused" by simplifying its supply chain and reducing layers of management.

3M is just the latest U.S. corporation to announce layoffs. In March, employers reportedly moved to lay off nearly 90,000 workers. In the tech sector, which hired aggressively during the pandemic, Q1 job cuts were a staggering 38,000 percent higher than in Q1 2022.