3M, the St. Paul, MN-based parent company of Top 40 supplier 3M/Promotional Markets (asi/91240), has announced several promotions among the company’s leadership.

Effective July 1, Michael F. Roman is the chief operating officer and executive vice president, and Hak Cheol (H.C.) Shin is vice chair and executive vice president. Both Roman and Chin will report to Inge Thulin, the company’s chairman of the board, president and CEO. 3M also announced that the Board of Directors has waived the mandatory retirement age of 65 years for Thulin, who is currently 63 and has held the CEO position since 2012.

In his new role, Roman will lead 3M’s five business groups and its International Operations. Most recently, he served as executive vice president of the Industrial Business Group, 3M’s largest business, and was previously the senior vice president of Strategy and Business Development.

As vice chair, Shin will lead the formation of critical global functional teams for Research and Development, Strategy and Business Development, Supply Chain Operations, and Information Technology. He will also be responsible for Business Transformation. For the past six years, Shin has been 3M’s executive vice president for International Operations and was previously the executive vice president for the Industrial Business Group.

“Mike and H.C. are both highly effective, accomplished leaders with proven track records of delivering strong results, building businesses and developing future leaders,” said Thulin in an official statement.

3M also announced the following appointments, effective July 1:

• James Bauman, executive vice president, Electronics & Energy Business Group, to executive vice president, Industrial Business Group
• Julie Bushman, senior vice president, Business Transformation & Information Technology, to executive vice president, International Operations
• Eric Hammes, vice president, corporate controller and chief accounting officer, to senior vice president, Business Transformation & Information Technology
• Dr. Ashish Khandpur, senior vice president, Research & Development and chief technology officer, to executive vice president, Electronics & Energy Business Group
• Dr. John Banovetz, managing director, DACH region (combined Germany, Austria, Switzerland), to senior vice president, Research & Development and chief technology officer

3M/Promotional Markets ranks 15th on Counselor’s list of Top 40 suppliers, with estimated 2015 North American promotional product sales of $99 million.