Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Instagram Outage Disrupts Thousands of U.S. Users 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
U.S. Stock Futures Edge Higher as Tech Rout Deepens on AI Concerns and Earnings 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
Asian Markets Slip as AI Spending Fears Shake Tech, Wall Street Futures Rebound 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
3M, an American conglomerate company, announced on Monday, May 15, that it's group president and chief business and country officer is leaving. The Saint Paul, Minnesota-headquartered healthcare and consumer goods manufacturing firm confirmed that Michael Vale has been fired.
Vale is a long-time top executive at 3M, but he would be let go due to violations of the company’s policy. The manufacturer added that he also has a case of inappropriate conduct at the workplace.
According to CNN Business, Vale is vacating his office just a month after being promoted to group president and chief business and country officer roles at 3M. Before his departure, he has been directly reporting to the firm’s chief executive officer Mike Roman.
Some of his tasks include overseeing the safety, consumer, industrial, electronics, and transportation businesses of the company. Prior to his promotion, Vale was the president of 3M’s safety and industrial business.
In the most recent shareholder report of 3M, it was indicated that the fired executive was paid more than $1.6 million in cash per year as of April 1, 2022. He has been working at the company for over 30 years now thus, the termination and the reasons behind it were disappointing in some ways.
“3M today announced that Michael Vale has been terminated for cause from the company, effective May 12, 2023,” the company said in a press release. “His dismissal is due to inappropriate personal conduct and violation of company policy, unrelated to the company's operations and financial performance. When 3M learned of and verified the violation, it took immediate action.”
3M added, “The company has initiated a search for Mr. Vale's successor. Effective immediately, the leaders of 3M's Safety and Industrial Business, Consumer Business, and Transportation and Electronics Business report to 3M chairman and chief executive officer Mike Roman.”
Photo by cetteup/Unsplash
