Boeing and 3M Reboots Will Take a While: Industrial Strength

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Industrial turnarounds are measured in years, not quarters, and there are no quick fixes for cultural atrophy and lackadaisical manufacturing practices.

That was the takeaway from earnings updates this week from 3M Co. and Boeing Co., two industrial giants that might charitably be described as being in turnaround mode after losing a combined $150 billion of market value since the start of 2018.

Both companies have new CEOs: Bill Brown, the former L3Harris Technologies Inc. leader, took on the top job at 3M in May, while Kelly Ortberg ...