3M appoints Otis executive Maheshwari as its new CFO
Adds details throughout
Aug 1 (Reuters) -Industrial giant 3M Co MMM.N on Thursday appointed elevator maker Otis Worldwide OTIS.N executive Anurag Maheshwari as its chief financial officer, succeeding Monish Patolawala, who was in the role for four years.
Maheshwari would assume the role on Sept. 1, while Teri Reinseth would serve as the finance chief in the interim.
Maheshwari joined Otis in 2020 and spent two years in the Asia Pacific region as vice president, finance, information technology and chief transformation officer. He is currently the executive vice president and CFO at the company.
Before joining Otis, he was the vice president, investor relations at defense firm Harris Corporation, now called L3Harris Technologies LHX.N.
Former top boss at L3Harris, Bill Brown, took over as the chief executive officer at 3M in May.
According to some Wall Street analysts, Patolawala's exit from 3M was expected as he was likely passed over for the role of CEO for industry veteran Brown.
The post-it maker is in the middle of a major restructuring, which included job cuts and the spin off of its healthcare business into a listed company, to mitigate the impact of a slowdown in demand.
It is also facing thousands of lawsuits over water pollution claims tied to "forever chemicals".
Reporting by Kannaki Deka in Bengaluru; Editing by Shilpi Majumdar
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
