Chemical manufacturing giant 3M announced Monday that it fired longtime executive Michael Vale for inappropriate personal conduct.
Vale, a 30-year company veteran, was appointed to a new role as 3M’s group president and chief business and country officer last month. Prior to the promotion, Vale served as 3M’s group president of safety and industrial for four years.
3M said it took “immediate action” after confirming the violation of company policy, adding that Vale’s inappropriate conduct was “unrelated to the company’s operations and financial performance.” The company did not specify the nature of the inappropriate conduct.
In 2022, Vale received a total compensation package of $4.5 million, including a base salary, bonus, stock awards and other compensation, according to 3M's May 2023 proxy statement.
The company said it has begun the search for Vale’s successor. In the meantime, leaders of 3M’s safety and industrial, consumer and transportation and electronics businesses will report to 3M Chair and CEO Mike Roman.
3M did not immediately respond to a request for comment.