3M names vice president Inge Thulin to replace George Buckley as chief

The company's chief operating officer will take over as president and CEO starting Feb. 24. The announcement ends speculation that 3M's board would waive the company's mandatory-retirement rule and allow Buckley, 65, to stay on.
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The company's chief operating officer will take over as president and CEO starting Feb. 24. The announcement ends speculation that 3M's board would waive the company's mandatory-retirement rule and allow Buckley, 65, to stay on.

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After 10 years at Maplewood-based 3M, Mauro Porcini will now focus on expanding Pepsi's 12 biggest brands, Fast Company reports. At 3M, Porcini had a role in designing office supplies, health care products and built a sought-after design team. Porcini joins PepsiCo on July 2.

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The Minnetonka-based global hospitality and travel company has promoted Trudy Rautio as president and chief executive officer, effective immediately. For the past eight years, Rautio has served as executive vice president and chief financial officer of Carlson. She is replacing Hubert Joly who resigned to take the top job at Richfield-based Best Buy. Rautio is only the fifth chief executive of the 74-year-old hospitality and travel company.

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3M's Chief Executive Officer is revising the projections for annual sales growth set by his predecesor. Bloomberg reports 3M's new goal is to increase revenue four to six percent a year at existing businesses, a reduction from the seven to eight percent sought by the previous CEO.

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