3M shareholders greeted the company's new CEO, Inge Thulin, at the firm's annual meeting today in St. Paul.
Thulin told them 3M is poised to gain market share worldwide, as it strives to reach $50 billion in annual sales. Thulin said he expects to spend most of his time on the road.
"I led international for seven, eight years. And I traveled almost 70 percent of my time," Thulin said. "And I'm a big believer that I should be out and meet with customers and encourage employees and help them to make sure they get the right help to grow our business."
Shareholders rejected proposals that would require the company stop using corporate funds for political contributions and more disclosure of lobbying efforts. The company argued that it is in its best interests to support political candidates and organizations that advance 3M's interests. 3M officials maintain their lobbying efforts are sufficiently disclosed now.