3M names new chief financial officer

3M has announced that David Meline is to become its new chief financial officer (CFO) and senior vice-president for finance on April 1st 2011.

Mr Meline currently acts as the global group's vice-president, corporate controller and chief accounting officer and has previously served in the CFO role for General Motors in the US.

He will succeed current CFO Patrick Campbell, who has announced his retirement and will be leaving 3M at the beginning of May.

George Buckley, 3M's chairman, president and chief executive officer, thanked Mr Campbell for his contributions during his nine-year tenure, crediting him with playing an important role in its business growth.

He said of Mr Meline: "David's financial prowess, technical education and international experience make him a perfect fit for 3M."

In January 2011, the group reported double-digit percentage sales growth for the 2010 fiscal year, with its healthcare division experiencing improved takings in all territories.