3M names Monahan chief of new spin-off
3M has appointed William Monahan CEO of the new company it plansto spin off next year. Monahan is currently group vice presidentof 3M's Electro and Communication Systems Group in Austin, TX. 3M of Minneapolis announced last month that it was planningto
3M has appointed William Monahan CEO of the new company it plansto spin off next year. Monahan is currently group vice presidentof 3M's Electro and Communication Systems Group in Austin, TX.
3M of Minneapolis announced last month that it was planningto create a new company from its data storage and imaging systemsbusinesses, which include 3M's healthcare operations. The newcompany will have 11,000 employees and revenues of $2.3 billion.3M expects to launch the new company by mid-1996.
At last month's Radiological Society of North America meeting,3M executives reassured their customers about the future of thecompany. The new firm should be more responsive and will be ableto deliver new technologies to market faster because there willbe less corporate bureaucracy involved, according to Anne LeGrand,sales and marketing manager.
"I think we will be an easier company to deal with,"LeGrand said. "You will see in the new company a more flexible,flatter organization that's very focused in the data storage andimaging market."
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