Inge Thulin: 3M Chairman & CEO

Inge Thulin, born in Sweden has risen through the ranks of an American multinational and now head this company.

Inge Thulin was born on November 9, 1953, in Malmo, Sweden. Inge studied Economics and Marketing at the School of Business, Economics and Law and related training at IHM Business School. 

He joined 3M in 1979 working in sales and marketing. He rose through the ranks holding positions of wider responsibilities. Thulin was promoted to vice president for the entire 3M in May 1, 2011, and was responsible for all the Group’s six business areas and international markets. He was able to grow sales to $20 billion which is two-thirds of the total group turnover. 

Inge’s predecessor Sir George W. Buckley, PhD eventually retired and Inge replaced him and became president and CEO on February 24, 2012. The title of chairman would later be added. 

Today around 64 percent of 3M’s revenue comes from outside the US and 60 percent of its employees work beyond US borders. 

Inge broke tradition in 2014 when he held 3M’s annual meeting outside of Minnesota for the first time, in Austin, Texas. He also surprised Wall Street with news that 3M could pursue multibillion-dollar acquisitions for the first time. Under Inge’s leadership the stock of 3M rose from $123 to $162 a share this year and breached the $100 billion market cap for the first time. This year, construction is well underway for the company’s new $150 million R&D Center on its Maplewood campus.

3M is a diversified technology company serving customers and communities with innovative products and services. The company operates its business through six segments: Industrial and Transportation, Health Care, Consumer and Office, Safety, Security and Protection Services, Display and Graphics and Electro and Communications.

Inge is proof of the quality of management and leadership skills of Swedish executives becoming president of a major publicly traded American conglomerate and guiding the company on a prosperous path. 

Top Caliber Executive: W. James McNerney

Many executives aspire for the top position in the company they work for. Some get that position others don’t.  For a selected few not getting the top position can lead to top positions in other companies.  For other like W. James McNerney, Jr. it meant getting the top position in two other companies.

Walter James McNerney, Jr. was born in Providence, Rhode Island on August 22, 1949. His father was a professor and business executive.  McNerney went to Yale University and earned a B.A. in American Studies in 1971.

His foray into the working world after college wasn’t exactly a fast-paced rise in the corporate ladder. McNerney taught sailing in Lake Michigan. He then worked on a ranch in Colorado before holding and insurance position in London, England. Getting back to school he finished an MBA degree at Harvard University in 1975.

McNerney then started working for well-known companies. He first worked at Procter & Gamble and was a brand manager for two-and-a-half years.  Next he moved to McKinsey & Co.  in 1978 as a senior manager in Chicago, Illinois. He then took care of high technology interests for international markets working out of Germany.

The McNerney joined GE in 1982, a career defining move which cemented his credentials as a top caliber executive. He started out as vice president for GE Information Services and after that had a series of promotions and assignments as head of different multi-billion dollar businesses of GE.  His last position was as president and CEO of GE Aircraft Engines.

With Jack Welch’s impending retirement, the race was on for the next CEO of GE and McNerney was in the running. When it became obvious that he wouldn’t get the top post he left GE. Yet GE executives especially of McNerney’s caliber are always in demand. He became the CEO of 3M in January 2001.

3M operated in 60 countries, had customers in 200 countries and was a $20 billion technology company producing a range of products from health care to telecommunications. McNerney joined the company under tough economic conditions. He reorganized 3M and managed to keep it profitable.

Then on July 2005 McNerney joined The Boeing Company as president, CEO and chairman of the board. He now leads a $68.7 billion aerospace company which is the largest in the world.