3M names General Electric exec Monish Patolawala as CFO

(Reuters) - U.S. industrial conglomerate 3M Co on Wednesday appointed General Electric Co executive Monish Patolawala as the company's chief financial officer, effective July 1.

Patolawala, 51, currently serves as the CFO of GE's healthcare unit. He will replace Nick Gangestad, who will retire, 3M said.

Patolawala joined GE in 1994 and has been working closely with the company's Chief Executive Officer Larry Culp as vice president of operational transformation, driving lean management across the company.

Prior to GE, Patolawala worked with accounting firm KPMG.

(The story refiles to corrects typo in the third paragraph).

(Reporting by Ankit Ajmera in Bengaluru; Editing by Aditya Soni)