ST. PAUL, MN — 3M nannounced Thursday that Monish Patolawala is appointed senior vice president and chief financial officer, effective July 1. Patolawala will succeed Nick Gangestad, who has announced his intention to retire. Gangestad will stay on through July 31 to ensure an orderly transition.
Patolawala
“I am pleased to welcome Monish to our leadership team,” said Mike Roman, 3M chairman and chief executive officer. “His deep and extensive experience in leading the financial operations of industrial and healthcare businesses – as well as driving operational changes – will make an immediate impact as we manage through the current economic challenges and continue to position 3M for the future. I am confident Monish will provide strong leadership and is an excellent addition to the 3M team.”
“On behalf of our board of directors and all 3Mers, I thank Nick for his exceptional contributions throughout his 35-year career,” Roman added. “He has been a great leader, mentor and colleague, and he has created tremendous value for our company and our shareholders. In his six years as CFO, Nick’s guidance has been especially critical as he helped lead our transformation journey, and our work to optimize our portfolio and position 3M for the future. I wish Nick all the best in the next chapter of his life.”
As CFO, Patolawala will lead 3M’s global finance organization and will be responsible for accounting, treasury, financial planning and analysis, tax, and investor relations.
“I am thrilled to join 3M, a company I have long admired as one of the most innovative in the world,” Patolawala said. “3M has unique strengths, a strong business model and a proud history, and I look forward to working with the team to execute on the company’s priorities, accelerate growth and enhance value for shareholders and all stakeholders.”
Patolawala holds a bachelor’s degree from St. Joseph’s College of Commerce in Bangalore, India.
