3M to return $10 billion to shareholders, reiterates sales forecast

Bill Brown, who succeeded Mike Roman as CEO in May, has focused on developing new products, redirecting spending from the company's earlier priorities of mitigating legal liabilities and reducing supply-chain costs. Saint Paul, Minnesota-based 3M has also focused on reining in costs and exiting less-profitable consumer product lines to combat slowing demand as part of its restructuring efforts. 3M also reaffirmed its annual forecast of organic sales growth in the range of 2% to 3%.