competitiveness, advance our market leadership across the globe, and build an even stronger 3M for the future,” he said. The CEO also described several initiatives launched recently to further accelerate 3M's growth. “At the top of my agenda is company wide implementation of the Six Sigma approach to process improvement,” he said. Other initiatives include leveraging 3M's global size to drive down costs of raw materials and other supplies, reducing indirect costs, increasing returns on electronic-commerce investments and accelerating the pace of new product commercialization. Noting that 3M will continue to invest in research and development, McNerney described the company's participation in dynamic markets, such as touch screens and light management products for electronic displays, and a new class of proprietary immune response modifier pharmaceuticals. He said international market expansion also remains a key growth driver.