The easy magnetic axis switching in magnetite is investigated. Magnetization data confirmed activation character of the process with activation energy of the same order as that of the Verwey transition, suggesting common origin. On the other hand this activation energy rises with pressure (up to 1.2GPa), unlike TV. The axis switching is clearly reflected in field dependence of resistivity and the direct structural data showed that it is simultaneous with the reorganization of structure. Thus, control of the structure can be possible with the application of magnetic field, as in shape memory materials. Finally, NMR showed that all, possibly decoupled entities: lattice distortion and charge and orbital orderings, change simultaneously while the axis switching occurs.