Michael Roman is the current CEO of 3M, which is a multi-national colossus of a corporation with a presence in sectors that range from healthcare to consumer goods. He is a relative newcomer to the position, seeing as how he was promoted earlier in 2018. However, Roman is by no means a newcomer to 3M, seeing as how he has been there for 30 years. Here are 10 things that you may or may not have known about Michael Roman:
1. Michael Means “Who Is Like God”
Michael comes from a Hebrew name that means “who is like God.” It is not a descriptor. Instead, it is a rhetorical question with the strong implication that there is no one who is like God. Michael and its variants have become popular in a wide range of countries because of the archangel of the same name, who is one of the most famous Christian saints.
2. Roman Means Roman
Perhaps unsurprisingly, Roman means Roman. In short, the name is believed to have come from Romanus, which started out as a Roman cognomen before seeing use in other contexts as well. For instance, the hellenized Romanos saw a fair amount of use in the Greece of the past, though it isn’t very popular in the present.
3. Went to University of Minnesota
Roman went to the University of Minnesota, where he graduated with a B.E.E. For those who are unfamliar with that particular degree, it stands for a Bachelor of Electrical Engineering. Later, Roman went on to get a Master’s degree from the University of Southern California as well.
4. Replaced Inge Sulin as CEO
In March of 2018, Roman became CEO of 3M. By doing so, he replaced Inge Sulin, who was appointed to a new position at 3M called the Executive Chairman of the Board. As such, Sulin is expected to help Roman with strategic initiatives that will have important consequences for 3M in the long run, which makes sense considering the name of the position.
5. His Children Helped Him Move into His New Office
When Roman became the new CEO, his adult children helped him move into his new office. Supposedly, this is something of a tradition for the Roman family, which is meant to let the children get a better idea of where their father spends so much of his time.
6. Stated Intent to Maintain Momentum
At the time of Roman’s rise to the position of CEO, he stated his intent to maintain 3M’s upward momentum. This was important because for some time, 3M had been suffering from downward pressure because of causes that ranged from falling demand to unpredictable oil and gas prices.
7. Expected to Focus on Growth
Speaking of which, some of the people who commented on Roman’s rise speculated that he would be continuing in his predecessor’s footsteps. In their opinion, his predecessor had laid the foundations by focusing on eliminating inefficiencies, meaning that Roman was expected to follow up by making use of that preparation to focus on growth.
8. He Wasn’t Too Concerned about Trump’s Economic Policies
Roman was also known to have commented about the impact of Trump’s economic policies on 3M’s prospects. In short, he stated that he and other members of the senior leadership at the corporation were paying close attention to what was happening. However, Roman was of the opinion that the economic policies would have a bigger impact on 3M’s customers rather than 3M because its international footprint would enable it to better-respond to changing circumstances, particularly since it had its strong economic performance to serve as a kind of cushion.
9. Sees the Need to Be Responsive As One of the Major Challenges of Modern Times
When it comes to challenges, Roman has stated that the need to keep up with changing circumstances is one of the biggest for modern CEOs. It is one of the reasons that 3M has been so focused on becoming more agile, which should enable it to become more responsive.
10. Sees 3M As Both Purpose-Driven and Performance-Driven in Nature
Roman has described 3M as being both purpose-driven and performance-driven in nature. However, they are not separate considerations. Instead, one leads to the other.