Advocates for tariffs need to answer two important questions.
The move puts him one step closer to the CEO role. Current 3M CEO Inge Thulin praised Roman for his work leading the company’s largest business group, industrial, which takes in $10 billion annually.
The last Minnesota company to go public was Tactile Systems Technology. In its IPO, the medical device maker reported net proceeds of $35.8 million.
Positions in the Minneapolis location will shift to St. Cloud.
CEO Randall Hogan also announced he would step down from his position and take over as chairman of the electrical business group.
The site, which would employ more than 150 Northern Minnesotans, was expected to open in 2018.
The Finnish company will have spent more than $35 million in the last two years on expansions of its U.S. headquarters.
The Federal Trade Commission claimed the merger would create unfair market conditions if Pentair’s switchbox business were not divested.
He added that the layoffs were “very unexpected.”