3M fires top executive Michael Vale for ‘inappropriate’ conduct

The company did not further detail the alleged actions that led to Mr Vale’s firing

FILE PHOTO: The company logo and trading information for 3M is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 29, 2022. REUTERS/Brendan McDermid/File Photo (REUTERS)

The 3M company said on Monday that it has fired its group president and chief business officer Michael Vale.

The company issued a brief statement explaining the move, attributing it to "inappropriate personal conduct and violation of company policy, unrelated to the company's operations and financial performance."

The company has reportedly started looking for a replacement, according to MarketWatch.

Mr Vale worked for the company for more than 30 years. He rose through the company and was eventually promoted to the chief business and country officer role last month, according to 3M's statement.

The executive oversaw three of the company's four business groups — safety and industrial, transportation and electronics, and consumer, which covers customer operations, country governance and emerging markets.

Chief Executive Mike Roman will oversee those sections until 3M chooses a replacement.

“The company has initiated a search for Mr. Vale’s successor. Effective immediately, the leaders of 3M’s Safety and Industrial Business, Consumer Business, and Transportation and Electronics Business report to 3M chairman and chief executive officer Mike Roman,” 3M said in a statement.

The company did not specify what alleged action resulted in Mr Vale’s firing, but said in a release that the company took “immediate action” to terminate him after it became aware of the incident. It also specified that the offending action was not related to the company’s finances or operations.

The 3M company is best known for producing everyday office items like Scotch tape and Post-It Notes.