3M announced Monday that it terminated executive Michael Vale for inappropriate personal conduct and violation of company policy.

CREDIT CRUNCH TARGETING MANUFACTURING AS INTEREST RATES SOAR

Vale, a 30-year veteran of the company, most recently served as group president and chief business and country officer since May. He was responsible for overseeing the company's safety and industrial, transportation and electronics, and consumer business units. He also oversaw country governance and emerging markets. Vale was terminated for cause on Friday.

The Minnesota-based manufacturer said it took immediate action when learning of Vale’s violation of company policy. 3M did not specify what the violation was, but said it was unrelated to the company's operations and financial performance.

A company spokesperson declined to comment further.

US JOB GROWTH BEATS EXPECTATIONS IN APRIL AS ECONOMY ADDS 253,000 NEW POSITIONS

Since Vale’s termination, the company has initiated a search for his successor. 

CREDIT CARD DEBT SET TO HIT $1T AS CHRONIC INFLATION CRUSHES AMERICANS

The units that Vale oversaw will now report to 3M CEO Mike Roman, the company said.