Ms. Most companies continue to use fixed-value equity award guidelines, with full-value stock awards remaining the most common form of equity compensation and providing the most consistent means to align director pay with shareholder interests. So what does he do when hes not in the office? Not surprisingly, the most lucrative seats go to directors at S&P 500 companies. Engage in conversations about Director pay with other professionals in the community. The information on this website, including any documents posted herein, contains a significant amount of information about 3M.
3M Adds To Board Of Directors - CleanLink They may contain forward-looking information about 3Ms financial results, estimates and business prospects that involve substantial risks and uncertainties that could cause actual results to differ materially. periodically receive reports on the status of Board compensation in relation to other large U.S. companies and is responsible for recommending to . To find out what any publicly held company pays its board members, read the companys annual proxystatement, available from its corporate website or the Securities and Exchange Commission website. If the company wasnt serious about action, then I wouldnt be the right candidate., Listening to our communities: The diverse voices and perspectives of 3M's Community Coalition, During his 33-year tenure at 3M, Global Diversity and Inclusion Strategist Scott Morris has never been more excited to be a part of a company and movement that is helping affect peoples lives. Possessing a wealth of experience in manufacturing and supply chain operations, Peter previously held senior-level executive positions at Mattel, Starbucks and ICI Paints North America. She has lived and worked around the world for 3M, including in Asia Pacific, Europe and the United States. By learning about the backgrounds of existing board members, you can extrapolate what the company is probably looking for in new ones. Ashish has been with the company for more than 26 years. Tel: (651) 737-6523
For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. FW Cook's 2020 Director Compensation Report studies non-employee director compensation at 300 companies of various sizes and industries to analyze market practices in pay levels and program structure. The report is complemented by an online dashboard, which enables users to delve into the most recent corporate disclosures by Russell 3000 companies and review individual elements of compensation packages, supplemental compensations for committee service . By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. Its members include current board members, aspiring board members, and corporations looking to hire board members. To effectively drive growth, it is important to keep the customer at the center of everything we do. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. The information shown here is a reporting of information included in the company's proxy statement. St. Paul, MN 55144-1000
PDF The Board of Directors (the "Board") of 3M Company ("3M" or the Board members in general, by the way, participated in an average of 7.9 meetings, in person or remotely, during the year. These descriptions are fairly generic. U.S. Securities and Exchange Commission. She is co-principal of Versaca Investments, a family office focused on growth investing globally she co-founded in 2021. "Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? He is past-chair of the board of Big Brothers Big Sisters of America, past president of the Northern Star Council of the Boy Scouts of America and continues to serve on both boards as well as the board of Alight (formerly known as the American Refugee Committee). You must click the activation link in order to complete your subscription.
3M CO Board Member Muhtar Kent | Salary.com endobj
John came to 3M in 1995 as a research chemist in the corporate R&D organization, working primarily on acrylic adhesives and tapes. Edison International is also the parent company of Edison Energy, a portfolio of competitive businesses providing commercial and industrial customers with energy management and procurement services. From December 2006 through June 2008, Mr. Kent served as President and Chief Operating Officer of The Coca-Cola Company. The Birmingham Water Works Board (BWWB) is taking multiple chemical companies to federal court in South Carolina, accusing them of contaminating Birmingham's drinking water supply - which was . I have been trying to get a review ever since and no one will say what is going on. If you experience any issues with this process, please contact us for further assistance. Hornbaker says attending committee meetings might be another responsibility. In 2016, John moved to West Europe to serve as managing director of 3Ms D-A-CH region, which represents the companys combined operations in Germany, Austria and Switzerland. from Grinnell College. The more qualifications you can bring to the table, the better. 3 0 obj
Ms. Craig served as Accenture's CFO from 2006 through 2013, following her many other leadership roles in line management, consulting and operations at Accenture during her 34 years with the company. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. John and his team also oversee 3Ms environmental responsibility efforts, with a focus on advancing environmental stewardship and accelerating 3Ms environmental commitments. "Definitive Proxy Statement, Apple 2021. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. "I believe that building confidence and removing the fear of failure are key components of leadership," says Peter. From 1991 to 1997 he served as Executive Director, Purchasing and Transportation at QMS Inc. From 1976 to 1991 he served in various managerial roles at Digital Equipment Corporation. Ashish has a strong technical background and has authored 10 patents. In November 2021, Karina assumed her current role as senior vice president and chief strategy officer. From January 2006 through December 2006, Mr. Kent served as President of Coca-Cola International. investorrelations@3M.com. He previously served as chief operating officer, led 3Ms largest business group and was chief strategist. 3M CO income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. He returned to the Visual Systems Division before another posting in Italy as a laboratory and project manager. Hood joined Microsoft in 2002, and through her tenure with the company has advanced momentum in cloud and helped digitally transform the company. Leadership is about serving more than yourself, he says. She currently serves as Adjunct Professor of Executive Education at the Kellogg School of Management, Northwestern University, and is currently a member of the Dallas Mavericks Advisory Council, Business and Community Advisory Council of the Federal Reserve Bank of Dallas, and the Committee of 100. 10 S. Dearborn St., 54th Floor. He was appointed to the Board of Directors in October 2009, and became Chief Executive Officer of Textron in December 2009 and Chairman of the . However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Compensation for board members can easily reach $300,000 to $500,000 a year, according to Veritas, an executive compensation consulting service. In his free time, Kevin enjoys travel, outdoor activities including fishing, hiking and gardening, and spending time with his family. Companies in all size segments continue to provide more than half of total pay in equity, on average, with equity weighting generally increasing with company size. 3M Investor Relations Department
3M is not only a world leader in innovation but was built on a foundation of strong ethics, customer centricity, a global mindset and a deep and diverse team, says Monish. He previously had led 3Ms Digital Transformation, one of the companys three value creation levers. "3M is a globally diverse company in so many dimensions," Ashish says. Can we afford $1.3M home? @,s30_j0 \
3M is advancing diversity, equity and inclusion with a pledge to double its representation of underrepresented groups, along with new initiatives to strengthen STEM education. President Joe Biden intends to name Karen Lynch, CEO of CVS Health, to his Export Council. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Explore our Directors and their backgrounds. Aptiv PLC (Compensation and Human Resources, and Nominating and Governance committees) Additional Positions.
They also recommended doing away with pension and . Lead, Columbia University's SIPA Tech & Policy Initiative; . As a CTO, Ashish led the global 3M team of over 8,000 scientists and engineers. Hood is responsible for leading the companys worldwide finance organization, including business operations, acquisitions, treasury, tax planning, global real estate, accounting and reporting, internal audit and investor relations. Ms. Kereere served in leadership positions at American Express from 1988 to 2016, including as head of its U.S. National Merchant Business and Global Network Business. Chairman of the Board and Chief Executive Officer of 3M Company. Mr. Pizarro earned his bachelor's degree in chemistry from Harvard University and his Ph.D. in chemistry from the California Institute of Technology. Mr. Outside of work, Karina is an experience seeker, avid traveler and food lover who enjoys dancing and yoga. Dr. Moyo served as Global Economist & Capital Markets at Goldman Sachs from 2001 to 2008. Ownership guidelines are typically enforced via a years-to-achieve rule (66% prevalence), a retention/holding requirement (11% prevalence), or a combination of the two (23% prevalence). Dow's Board of Directors exemplifies good governance with solid, diverse experience and credentials. In early 2014, Ashish began leading one of 3Ms biggest businesses the Personal Safety Division and later that same year he was named the chief technology officer (CTO) and senior vice president of research and development of 3M. The company is strengthening environmental stewardship with a $1 billion commitment to achieve carbon neutrality, reduce water use, improve water quality and reduce its use of plastics.
Leonteq publishes agenda and proposal of the Board of Directors for the Mike and his family enjoy a variety of physical fitness and outdoor activities. Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. Michael Ferrante and Connor Damon are consultants at FW Cook. Three years later, he was tapped to lead 3Ms corporate research lab. Changes were relatively stable across industries; we observe that Financial Services, Industrials, and Technology companies had no increases in median total compensation, while Energy and Retail companies had increases of 3% and 2%, respectively. "Anne has decades of experience in technology and business, and a proven track record of transforming global organizations and community engagement. Mr. Eskew was appointed Executive Vice President in 1999 and Vice Chairman in 2000 before becoming Chairman of the Board and Chief Executive Officer of UPS in January 2002. The estimated additional pay is $169,271 per year. Mr. Help make it more accurate by, Get started with your Free Employer Profile, average salary for a Director is $129,368 per year in United States, The Ultimate Job Interview Preparation Guide. By learning about the backgrounds of existing board members, you can extrapolate what they may be looking for in new ones. hb```e``3,00```T~s@@(` investorrelations@3M.com. In this role, Kevin led ongoing efforts during the COVID-19 pandemic to combat fraud, counterfeiting, and price gouging of N95 respirators. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. Amy Fontinelle has more than 15 years of experience covering personal finance, corporate finance and investing. Complement your online networking with face-to-face connections at events, conferences, and social gatherings, he says. Mr. Dillon served as a Director of the Kroger Co. from 1995 through 2014. Lodestone Global. 3M(NYSE: MMM) believes science helps create a brighter world for everyone. A board of directors (B of D) is the governing body of a company, elected by shareholders to set strategy and oversee management. The Board has delegated certain authority to a number of standing committees, including an Audit Committee, Compensation and Organization Committee and Nominating and Governance Committee. Walmart. Dont have any other debt - however this expensive mortgage would take half my monthly salary (post tax).. Kevin is a champion for diversity and inclusion in the legal profession, growing talent and serving communities. endstream
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<. 3M Company Board of Directors Compensation Committee Charter (As Affirmed February 5, 2019) A. Retired Chairman of the Board and Chief Executive Officer The Kroger Co., a large retailer that operates retail food and drug stores, multi-department stores, jewelry stores, and convenience stores throughout the U.S. Mr. Dillon retired as Krogers Chairman of the Board on December 31, 2014, where he was Chairman of the Board since 2004 and was the Chief Executive Officer from 2003 through 2013. Kevin Rhodes is Executive Vice President and Chief Legal Affairs Officer, overseeing legal, compliance, government affairs and global security matters for 3M. She joined 3M in 2008 as a marketing and public affairs manager for 3M Mexico, and has held roles of increasing responsibility in the United States, Asia and Latin America. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). Throughout his 20-year 3M career, Kevin has led legal teams in areas of increasing responsibility. 3Ms culture brings together passionate people with purpose and strategy to solve some of the worlds toughest challenges.. In his spare time, he dedicates himself to being a loving husband and father and growing his family. Tel: (651) 737-6523
3M Investor Relations Department
The charts on this page feature a breakdown of the total annual pay for the top executives at 3M CO as reported in their proxy statements. What Is the Salary of the Federal Reserve Chair? The prevalence of committee member retainers has been stable year-over-year, while the use of committee meeting fees continues to decrease. Mike became chairman of the board in May 2019 and chief executive officer in July 2018. 3M United States Investor Relations Governance Board of Directors Investor Relations IR Home About 3M Stock Information Financials Events & Presentations News Governance Resources Board of Directors Thomas K. Brown Retired Group Vice President, Global Purchasing, Ford Motor Company Anne H. Chow Retired Chief Executive Officer, AT&T Business 3Ms purpose drives its performance, and the company is advancing four strategic priorities to support long-term value creation: Portfolio Management, Transforming the 3M Operating Model, Growth through Innovation, and People and Culture. If you experience any issues with this process, please contact us for further assistance. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Mr. Roman also has held numerous leadership positions in Asia Pacific and Europe, across multiple businesses. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. He joined 3M in October 2021 as executive vice president and chief information & digital officer, helping lead the digital transformation of the $32 billion science-based company. He leads a global Legal Affairs team that helps guide business opportunities, address enterprise risks, protect intellectual property, shape the development of law and policy, and strengthen compliance and security. 3M announced that Suzan Kereere, head of Global Business Solutions at Fiserv, Inc., has been elected to 3M's Board of Directors, effective Feb. 10, 2022. Average compensation in 2018 at those firms was $304,856, according to Reuters. His team supports the success of the 3M Operating Model, ensuring strong customer and employee engagement globally, protecting the reputation of 3M, providing world global services, while driving the companys workplace transformation strategy. On Fishbowl, you can share insights and advice anonymously with 3M employees and get real answers from people on the inside. Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. The new 2022 third edition of the survey contains over 1,200 responses, an increase of about 300 participants from the prior full version of the . The compensation analysis excludes any temporary reductions to director compensation implemented due to the pandemic. Obviously, if there is a crisis or a strategic issuefor example, an acquisitionthe number of hours for a director can dramatically increase, Rogers says. Under Mikes leadership, 3M has also helped lead the worlds response to COVID-19, which includes distributing more than 4 billion respirators to protect nurses, doctors and first responders. Fixed retainers remain more prevalent than meeting fees as the means to deliver additional compensation. Ive been fortunate enough to see this company from many, many anglesand 3M is impressive no matter where you are in the world.. VUL^07d=xy2
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How Should Board of Directors' Compensation Be Handled? - Diligent Board of Directors: What It Is, What Its Role Is, Incorporation: Definition, How It Works, and Advantages, Audit Committee: Definition, How They're Used, and Purpose, What Is a Proxy Statement? For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission.
The 2022 Private Company Board Compensation Survey 3M Expands Board of Directors February 14, 2022. %PDF-1.7
Corporate boards are made up of highly successful executive outsiders. My new VP is in the company less than 6m and in the position 3m. Pedro Pizarro has been President and CEO of Edison International, the parent company of Southern California Edison (SCE), one of the nation's largest electric utilities, since 2016. In 2008, he became Ford's Group Vice President, Global Purchasing, with responsibility for approximately $90 billion of production and non-production procurement for Ford operations worldwide. Mr. Roman is on the board of the following organizations in addition to 3M: Abbott Laboratories, University of Minnesota Foundation Board of Trustees. John has a Ph.D. in inorganic chemistry from Stanford University, and a bachelors degree in chemistry from Hamline University. investorrelations@3M.com. ST. PAUL, Minn., Feb. 8, 2023 /PRNewswire/ -- 3M (NYSE: MMM) announced today that Anne H. Chow, retired chief executive officer of AT&T Business, and Pedro J. Pizarro, president and chief executive officer of Edison International, have been elected to 3M's Board of Directors, effective Feb. 9, 2023. Attractive qualities include experience in high-level work for the federal government, positions as a CEO or director, experience founding and running a successful startup, and experience on other boards. U.S. company directors compensated more than ever, but now risk backlash, Few Hours, Soaring Pay for Corporate Board Members. Dr. Ashish Khandpur is group president of 3Ms Transportation and Electronics Business Group. The Board of Directors (the "Board") of 3M Company ("3M" or the "Company") has adopted these guidelines, which in conjunction with the Certificate of Incorporation, Bylaws, and Board . This post is based on their FW Cook memorandum. He was appointed 3Ms chief technology officer and senior vice president of research and development in July 2017. Kevin and his wife Melinda have three adult children. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Over the years, his career with 3M has sent him abroad four times for varied roles, including research chemist, manufacturing director and general manager. Prior to 3M, Mark served as Chief Information Officer for Abbott Laboratories where he had global responsibilities for Abbotts technology landscape. Anne Chow and Pedro Pizarro elected to 3M Board of Directors, Caution Concerning Forward-Looking Statements, https://www.prnewswire.com/news-releases/anne-chow-and-pedro-pizarro-elected-to-3m-board-of-directors-301741429.html, SDS, RDS, More Regulatory & Compliance Information. Mike is most proud of seeing the success of coworkers and people he has mentored during his time at the company. The estimated total pay for a Director at 3M is $346,118 per year. %PDF-1.6
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You may also find the annual proxy statement by going directly to the company's website. Mr. A leadership position had been created to advance more of the companys equity initiatives and they wanted to know if he would like to be considered. He served in that role until 2012, when he became global business director for 3M's Industrial Adhesives and Tapes Division. Mr. Pizarro is a member of Edison International's Board of Directors. The companys 96,000 employees are united by a common purpose: unlocking the value of people, science, and ideas to re-imagine what is possible. He enjoys pushing himself mentally and physically in a broad range of athletics. %
As vice president of operational transformation, he led the companys transformation initiatives driving operating rigor and lean management across the company. 3M shareholders today elected 11 directors for one-year terms that expire at the company's 2021 Annual Meeting: Thomas "Tony" K. Brown, retired group vice president, Global Purchasing, Ford Motor Company Pamela J. Craig, retired chief financial officer, Accenture plc David B. Dillon, retired chairman of the board and CEO, The Kroger Co. They will provide invaluable insight and perspective to our board as we continue to position 3M for the future.". ", Veritas. 224-1W-02
She earned a B.A. Dr. Moyo was Chief Executive of Officer of Mildstorm LLC, a financial and economics firm, from 2015 to 2021. Approximately 94% of companies denominate equity awards as a dollar value rather than as a fixed number of shares. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Retired Chairman and Chief Executive Officer of Cargill. Non-executive board chairs are almost always provided additional compensation for the role, with the median ranging from $72,500 at small-cap companies to $175,000 at large-cap companies. Words such as plan, expect, aim, believe, project, target, anticipate, intend, estimate, will, should, could, forecast and other words and terms of similar meaning, typically identify such forward-looking statements. Prior to her current role, she served as senior vice president of Talent, Learning and Insights. Ms. Leadership is about connecting with and inspiring others to achieve their best, Mark says. In his current position, John remains focused on driving change, challenging the status quo and helping develop the 3M leaders of tomorrow. In 2001, Mike returned to the U.S. as one of 3Ms first Six Sigma master black belts. Those two years, he says, are what really grounded him in company-wide priorities. I feel blessed and give everything I have to leave 3M in a better place, every day.. Mr. Fitterling is also a passionate advocate for inclusion and diversity with a focus on diversifying Dows global talent, enhancing innovation and the customer experience, and strengthening relationships in the communities the company serves. They range from recent retirees and people nearing retirement to younger people who've experienced early successes in business. The companys financial objectives include continuing to grow above the markets it serves, expand margins and generate strong cash flow. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. Lead directors are also almost always provided with additional compensation, ranging from approximately $20,000 to $35,000 at the median across all size and sector groups. He earned a bachelors degree from St. Josephs College of Commerce in Bangalore, India. Year-over-year increases to total compensation, at the median, were modest among large-cap and mid-cap companies compared to small-cap companies, which had a relatively significant increase . An audit committee is the part of a company's board of directors in charge financial reporting and disclosure. At 3M, we promise to treat your data with respect and will not share your information with any third party. I was offered a promotion & salary increase (66k to 96k) in Dec but then in Jan the company fired my country VP who made the offer.
The report recommended that companies start compensating board directors with cash and equity. About3M Zoe has been the architect of 3Ms talent and organization effectiveness strategies, and a passionate advocate for embedding diversity, equity and inclusion across the company. Approximately 80% of the sample uses a retainer-only structure (no board meeting fees), and an additional 6% only awards a meeting fee for abnormally high activity above a pre-set threshold. Mr. Pizarro served as president of SCE from 2014 to 2016. 1 0 obj
Throughout his career he has led large technology transformations including SAP implementations, digital initiatives and cybersecurity. She has led global organizations through major transformations with decades of strategic and operational experience serving the business marketplace, including roles as president, AT&T National Business and president, and AT&T Integrator Solutions. Throughout Mikes career, he has lived and led businesses around the world, including the United States, Europe and Asia. Ms. Chow is on the board of the following public company in addition to 3M: FranklinCovey. He has held a wide range of other senior executive positions at the Edison International companies since joining in 1999. Over the years, he has held various positions of increasing responsibility in corporate research and division labs. Incorporation is the legal process by which a business entity is formed. As 3Ms senior vice president and chief strategy officer, Karina Chavez leads several functions including strategy, brand, design, sponsorships and events, and communications for the $32 billion science-based company. The brands listed above are trademarks of 3M. The estimated total pay for a Director at 3M is $345,577 per year. She has been in the accounting, audit, and tax profession for more than 13 years, working with individuals and a variety of companies in the health care, banking, and accounting industries.