Name: Shirley Edwards
New title: Board member, Solventum
Shirley Edwards has joined the board of directors at 3M spinoff Solventum, the company said Monday. Edwards was global client service partner at EY from 2017 to 2022.
Solventum completed its split from 3M on April 1 and began life as an independent manufacturer of medical devices including stethoscopes, IV port protectors and negative pressure wound therapy devices. The new business nominated 10 directors for election by 3M, then its sole shareholder, before completing the split from its parent company.
Edwards joins those 10 nominees, plus Solventum CEO Bryan Hanson, on the board of directors. The appointment is the third board position Edwards has taken since retiring from EY after 20 years in 2022.
“Her extensive expertise in mergers and acquisitions, corporate governance, performance enhancement, finance and human resources will serve as a valuable resource as Solventum advances its specialized growth and market strategies, along with capital allocation approaches,” Hanson said.
Edwards, who will serve on Solventum's audit and talent committees, brings experience at a consultancy to a board of directors that is largely made up of people who worked at medtech and biopharma companies including AbbVie, Bristol-Myers Squibb, Covidien, C.R. Bard and Humacyte.
Solventum executives discussed areas where the board will provide input at an investor day last month. Solventum CFO Wayde McMillan said management still needed to decide on dividend and share repurchases. Hanson added that management was working with the board on the performance metrics that will determine incentive payouts.
