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Why 3M Stock Jumped Today

TheMotleyFool

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Why 3M Stock Jumped TodayPhoto, wide shot, wide-angle lens, Conglomerate, Midday, harsh overhead sunlight, directional sunlightt, photo by Ansel Adams: https://img.theapi.app/temp/95f18fed-a4d6-4069-b489-4d050c74c618.png

Shares of 3M (NYSE: MMM) were popping today after the industrial conglomerate announced a surprise change in its leadership.

The company, which makes everything from Scotch tape to medical equipment, said William Brown will be its new CEO, effective May 1, replacing Michael Roman, who will transition to the executive chairman position.

Investors responded well to the news as 3M stock had struggled in recent years amid macroeconomic headwinds and two multibillion-dollar class action lawsuits.

Source Fool.com

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