3M Company ( MMM ) shares are trading higher after the company said William M. Bill Brown is appointed chief executive officer, effective May 1, 2024. 

Brown will succeed Michael Roman, who is appointed as Executive Chairman of the Board, also effective May 1, 2024.

Brown is the former Chairman of the Board and Chief Executive Officer of L3Harris Technologies Inc ( LHX ) , an aerospace and defense technology company.

He previously served as chairman, president, and chief executive officer of Harris Corporation before its merger with L3 Technologies in 2019. 

Brown holds bachelor’s and master’s degrees in mechanical engineering from Villanova University, as well as an MBA from The Wharton School, University of Pennsylvania.

Roman will continue to chair 3M’s Board of Directors. He has served as 3M’s CEO since July 2018.

3M ( MMM ) also announced that the Board of Directors waived the mandatory retirement age of 65 years for Roman and Brown.

Price Action: MMM shares are trading higher by 4.41% at $98.20 on the last check Tuesday.