Looking back at George Buckley and 3M

June 2005: James McNerney leaves 3M to become chairman and CEO of the Boeing Co., and Robert Morrison becomes interim CEO.

Dec. 2005: 3M's board of directors recruits George Buckley from Brunswick Corp. to become chairman and CEO. Buckley is considered to be a below-the-radar choice.

Dec. 2005: In one of Buckley's first public statements as 3M CEO, he says his mission will be to turn research and development dollars into more new products, and he forecast more acquisitions by the company.

Feb. 2006: 3M buys Omni Oral Pharmaceuticals, the No. 2 maker of professional dental supplies. It's the first of 77 acquisitions that 3M will make under Buckley's tenure.

Dec. 2006: 3M announces 400 job cuts at its headquarters in Maplewood and later in the month announces that it will trim its long-standing profit-sharing and stock option plans for top managers.

Jan. 2007: 3M sells its European pharmaceutical business for $857 million.

Feb. 2007: 3M announces a plan to buy back $7 billion worth of stock over next two years, its largest stock buyback program to date.

March 2009: 3M's stock falls to its lowest point during Buckley's tenure on March 6, 2009, when it closed at $41.83.

May 2009: 3M eliminates free lunches and goodie bags at the annual meeting, and attendance drops to roughly 1,000 shareholders. Buckley's address stresses preserving cash and cutting costs. The company had cut 4,700 jobs over the past year.

October 2009: 3M experiences "unprecedented demand" for its surgical masks as the threat of the swine flu spreads worldwide.

October 2009: Buckley announces the company will spend about $1 billion on acquisitions over next 12 months.

2010: 3M's revenue from outside the United States increases to 65 percent of total revenue, up from 61 percent of total revenue in 2005.