New CEO Thulin knows the world, and 3M's people

3M's new CEO, Inge Thulin, is a global executive with a hometown touch.

The Swedish-born and multilingual Thulin has spent the last 33 years helping build 3M's international footprint and taking the steps necessary to one day lead the $30 billion global giant. That day came Wednesday, when Thulin was tapped to succeed retiring CEO George Buckley.

"Those of us who have been around the Twin Cities for a long time probably feel a little bit of comfort in the fact that [Thulin] is an insider," said William Frels, CEO of the St. Paul-based investment firm Mairs & Power Inc. "He knows what is going on."

Outgoing CEO Buckley came to 3M from boat maker Brunswick Corp. and Minnesotans viewed him as another outsider, Frels said. Buckley succeeded James McNerney, a former GE executive who "turned the company upside down," said Frels, whose firm is a major 3M stockholder. McNerney left 3M in 2005 to take the top job at Boeing.

In contrast to McNerney, Frels describes Thulin as "kind of warm and fuzzy."

Charlie Weaver, executive director of the Minnesota Business Partnership, said he expects Thulin to continue Buckley's work with the partnership to improve local regulations, job skills and education.

Thulin "is so deeply embedded in 3M, and I know he just loves Minnesota and wants to grow jobs here," Weaver said. "Yet his global background is great for becoming CEO of this company right now."

"I was looking for an American company," Thulin said in a phone interview Wednesday. "I had this perception that an American company was a good place to be -- something to do with the American dream and opportunities ... where everything was possible.

"I liked the company because it was based on innovation, which is the big differentiator in anything you do," said the Swedish native. "We have the Nobel Prize. When you grow up and know that every November it's time for the Nobel Prize, it becomes an important part of the way you think."

The 58-year-old remains fluent in English, Dutch, German, French and his native Swedish. He has children in Sweden and the Netherlands and four brothers and sisters in Malmo, Sweden, where he grew up.

Global experience

After joining 3M, went on to lead 3M Sweden's Life Sciences Sector before overseeing vision care and orthopedic products for all of 3M Europe. He became managing director of 3M Russia in 1995, headed 3M's Skin Health business in 1997 and became vice president of 3M's Europe and Middle East Operations in 2002.

Analysts credit Thulin with much of 3M's overseas growth. Under his leadership, international sales rose from 53 percent of company revenue in 2003 to 63 percent by 2008.

During an earlier interview in his 14th-floor office in Maplewood, Thulin nodded at the large globe in the corner and remarked that "International is the company's biggest growth platform. No doubt."

By 2008, Thulin oversaw $15 billion in sales and had responsibility for 40,780 employees or 54 percent of 3M's workforce. That kind of growth has generated admirers.

"At Toro, we aspire to be more of a global company like 3M today. And Inge is helping us move in that direction," said Toro CEO Mike Hoffman via an e-mail. "He's been an invaluable member of Toro's board for over four years with his international expertise and vision aiding our development of growth strategies in global markets."

As Thulin takes the helm at 3M, "All of us at Toro are very happy for Inge," Hoffman said.

Happy for an insider

3M's overall goal was to pump millions into new factories, research and technology centers in Brazil, Russia, India, China and Poland and planting seeds for future growth in Turkey, Kazakhstan and Ukraine, Campbell said. The idea was to put factories and research centers closer to customers and suppliers to reduce costs and to increase sales opportunities. Thulin's input was key, he said.

3M, perhaps best known for its Post-it Notes, Scotchgard, Scotch tape and advertising bus wraps, operates in more than 64 countries.

Einar Horne, a shareholder who retired from 3M in 1990 after 33 years developing products and managing divisions, said he is just "happy that an internal 3Mer who knows the culture became the CEO." The company's culture of product innovation and teamwork has been missing, Horne said.