3M (NYSE:MMM) has announced the resignation of Monish Patolawala, its President and Chief Financial Officer, effective July 31, 2024.

Mr. Patolawala is leaving to pursue another opportunity but will remain with the company until the end of July to facilitate a smooth transition.

William Brown, 3M's Chief Executive Officer, expressed gratitude for Mr. Patolawala’s contributions during his four-year tenure, stating, “On behalf of all 3Mers, I thank Monish for his leadership and contributions to 3M. We wish him continued success in his future endeavors.”

The company says it has begun the process of selecting a new CFO and will provide updates on the succession in due course.