3M Company on Tuesday announced that Patrick Campbell, the company's chief financial officer (CFO), will retire on May 1.

David Meline-who currently serves as vice president, corporate comptroller, and chief accounting officer-will succeed Campbell as CFO and has also been named senior vice president of finance. Meline will assume his new roles on April 1.

Meline joined 3M in 2008. He previously served as CFO for General Motors' North America operations and also held positions within the company in Europe, Brazil, Kenya, and Korea.

Campbell has occupied his post at 3M since 2002. Prior to that, he too held a variety of positions at General Motors.

George W. Buckley, 3M chairman, president, and CEO, said in a statement that Campbell was “integral to transforming 3M into a faster-growing and more profitable enterprise.”

Of Campbell's successor, Buckley said that Meline's “financial prowess, technical education, and international experience make him a perfect fit for 3M. I have every confidence that he will help 3M achieve new levels of success.”

Maplewood-based 3M is Minnesota's fifth-largest public company based on its 2009 revenue, which totaled $23.1 billion. The company reported $26.7 billion in revenue in 2010.