3M has announced it hired William M. “Bill” Brown as its new CEO, replacing Michael Roman, effective May 1, 2024.

Brown comes from L3Harris Technologies, where he served as CEO and Chairman of the Board. Prior to that, he was CEO of Harris Corporation before its merger with L3 Technologies.

“Bill’s strong track record as a CEO for a global technology company makes him the right leader for 3M,” said Roman. “He brings a wealth of experience in strategic leadership, innovation, and operational excellence to 3M. I look forward to working with him to build on our momentum in my new role as executive chairman.”

“I am excited for the opportunity to lead this iconic global company,” said Brown. “The company has made significant positive changes under Mike’s leadership, and I am looking forward to building on that progress as CEO as 3M continues to deliver for its customers, shareholders, employees, and communities around the globe.”

3M’s stock was up nearly 5% at close of day Tuesday, following the news.