Microvast Holdings announces departure of chief financial officer
In the latest annual meeting held on Tuesday, 3M Company (NYSE:MMM), a $79.7 billion industrial conglomerate with a FAIR financial health rating according to InvestingPro, shareholders voted on several key proposals, including the election of board members and the ratification of the company’s independent accounting firm. The company’s stock has gained over 15% year-to-date, trading at $147.88. The meeting, which took place on May 13, 2025, saw all eleven nominees for the board of directors elected for a one-year term by a majority vote. With a P/E ratio of 18.4, the company maintains strong market valuation metrics despite recent challenges.
Shareholders ratified the appointment of PricewaterhouseCoopers LLP as 3M’s independent registered public accounting firm for the year 2025. The decision was made with a significant majority, indicating confidence in the firm’s ability to audit the company’s financial statements.
Additionally, the advisory approval of the compensation of 3M’s Named Executive Officers was passed. This non-binding vote reflects the shareholders’ support for the company’s executive compensation policies and practices as described in the 2025 Proxy Statement.
The results of these votes are part of the company’s commitment to transparency and shareholder engagement. The election of the board members is expected to provide guidance and oversight to the company’s strategic direction, while the ratification of the accounting firm ensures the integrity of financial reporting.
The detailed outcomes of the votes, including the number of votes for, against, abstain, and broker non-votes for each proposal, were disclosed in an 8-K filing with the Securities and Exchange Commission. The filing, made by 3M’s Executive Vice President, Chief Legal Affairs Officer, and Secretary, Kevin H. Rhodes, on May 14, 2025, is a standard regulatory requirement to inform the public and investors about the decisions made during the annual meeting. Analysts maintain a moderate buy consensus on the stock, and detailed governance metrics are available through InvestingPro’s comprehensive research reports, which offer in-depth analysis of 3M and 1,400+ other US stocks.
This information is based on a press release statement.
In other recent news, 3M Company reported a solid beginning to the fiscal year 2025, with a 10% increase in adjusted earnings per share (EPS) for the first quarter, reaching $1.88. The company also experienced a 1.5% growth in organic sales and improved operating margins by 220 basis points year-over-year. In a separate development, 3M has agreed to settle legacy claims related to the Chambers Works site in New Jersey and statewide PFAS claims, resulting in a pre-tax charge of approximately $285 million in the second quarter of 2025. This settlement, pending court approval, aims to resolve ongoing litigation without admitting liability.
Additionally, UBS analyst Amit Mehrotra reaffirmed a Buy rating for 3M stock, maintaining a price target of $184.00. Mehrotra increased his 2025 EPS estimate to $8.00, noting 3M’s positive earnings guidance and potential upside based on current foreign exchange rates. Furthermore, 3M shareholders recently approved all proposals at the company’s Annual Meeting, including the re-election of 11 directors and the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for 2025. These developments reflect 3M’s strategic focus on operational efficiency, risk management, and shareholder engagement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.