Mighty 3M mired in
mounting mgt mess
Earplug/PFAS legal issues;
& Health Care div. spinoff
distract from core focus
3M's cfo Monish Patolawala spoke with JPMorgan's Steve Tusa at its Industrials Conference yesterday. 3M's market cap is down -30% over past year, reflecting legal issues with defective miltary earplugs and PFAS chemicals. Meanwhile, it's spinning off the Health Care (25% mix) division and struggling with volume decline in its main businesses. Analysis here...
