Thomas "Tony" K. Brown, a retired group vice president of global purchasing for Ford, is the latest appointment to 3M's (NYSE:MMM) Board of Directors. Brown became group VP of global purchasing at Ford in 2008, which 3M says involved overseeing approximately $90 billion worth of production and non-production procurement for Ford's worldwide operations.
Previously, Brown served as the vice president of supply management for United Technologies Corp., and was also executive director of corporate purchasing and transportation for enterprise printing provider QMS
3M CEO Inge Thulin said the company is "extremely pleased" at Brown's appointment to the board, because "he is a talented and proven business leader, and will bring valuable ... global purchasing management and supply chain experience for the board and our company."
Since January, 3M has seen its price per share move from $92.85 to $118.31, a 27.4% increase. Brown's appointment brings 3M's board of directors to 12 members, including Coca Cola CEO Muhtar Kent and former Target CEO Robert Ulrich.