3m board of directors compensation

ST. PAUL, Minn., Feb. 9, 2022 /PRNewswire/ -- 3M (NYSE: MMM) announced today that Suzan Kereere, Head of Global Business Solutions at Fiserv, Inc., has been elected to 3M's Board of Directors, effective February 10, 2022.In connection with Ms. Kereere's election, the Board of Directors increased its size from 12 to 13 members. During his assignment as the laboratory head in India, Ashish was responsible for establishing its first product development laboratory and capabilities. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. John and his team also oversee 3Ms environmental responsibility efforts, with a focus on advancing environmental stewardship and accelerating 3Ms environmental commitments. 0 Outside of work, Peter enjoys hiking, reading, and supporting the Glasgow Celtic soccer club and serves on the boards of CP Kelco and the Jesuit School of Theology of Santa Clara University. As vice president of operational transformation, he led the companys transformation initiatives driving operating rigor and lean management across the company. Retired Group Vice President, Global Purchasing, Ford Motor Company, a global automotive industry leader. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. 3M Company reviews the Company's compensation practices and policies, annually reviews and approves (subject to ratification by the independent directors of the Board) the compensation for the CEO, annually reviews and approves the compensation for the other senior executives, Mr. Brown is on the board of the following public company in addition to 3M: Tower International, Inc. Here are a couple of examples of what Fortune 500 companies pay their board members. 118 0 obj <>/Filter/FlateDecode/ID[<7EC0A6CD8E76974B8000B812351B4C61><50CA0BECC4E50243A657300F9E70214C>]/Index[102 22]/Info 101 0 R/Length 82/Prev 76119/Root 103 0 R/Size 124/Type/XRef/W[1 2 1]>>stream Opening up lines of communication to a second- or even third-degree connection could lead to an excellent fit for the board position you seek. 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. Small-cap companies tend to have the highest cash weighting (average of 47%) and large-cap companies tend to have the lowest (average of 37%). In early 2020, Garfield Bowen was leading global R&D operations and project management for one of 3Ms largest divisions when he got a call from the chief human resources officer a call that would completely change his career trajectory. 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. Dr. Moyo served as Global Economist & Capital Markets at Goldman Sachs from 2001 to 2008. View SAI KRISHNA.docx from STAT 5561 at University of Missouri, Kansas City. CleanLink News. Sleep, Mike jokes, though he will say more seriously that he tries to focus his energies where they will do the most good. Approximately 90% of companies in the sample grant full-value stock awards exclusively (i.e., no stock options). Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. 3M (NYSE: MMM) announced today that Anne H. Chow, retired chief executive officer of ATT 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. 3M CO annual reports of executive compensation and pay are most commonly found in the Def 14a documents. "3M is a globally diverse company in so many dimensions," Ashish says. 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. Leadership is about connecting with and inspiring others to achieve their best, Mark says. 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. She has been married more than 20 years, with two teenage kids. He served as Coca-Colas Chief Executive Officer from July 2008 to April 2017. Mike joined the company in 1992, shortly after earning a Ph.D. in chemistry from M.I.T. All proxy statements are public filings made available to the general public by the SEC. Over the years, his career with 3M has sent him abroad four times for varied roles, including research chemist, manufacturing director and general manager. In 2017 she was named global business director for 3Ms home improvement business, until 2020 when she became senior vice president for customer operations. <>/Metadata 125 0 R/ViewerPreferences 126 0 R>> For example, some of the qualities Wal-Mart says its looking for in board members include:"outstanding achievement in their professional careers; broad experience and wisdom; personal and professional integrity; ability to make independent, analytical inquiries; experience with and understanding of the business environment; willingness and ability to devote adequate time to Board duties.". Leadership is facilitating and embracing evolution, and accompanying the paths for change, Karina says. Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor tax expert. Chicago, IL 60603. In connection with Ms. Chow and Mr. Pizarro's election, the Board of Directors increased its size from 11 to 13 members. Kevin is a champion for diversity and inclusion in the legal profession, growing talent and serving communities. Over the years, he has held various positions of increasing responsibility in corporate research and division labs. Country Governance and Services comprises Global Country Leadership, the Workplace Group, Global Service Centers, and 3Ms Emerging Markets. The estimated additional pay is $170,007 per year. Mr. Pizarro served as president of SCE from 2014 to 2016. Prior to 3M, Monish spent 26 years at GE where he held a variety of roles of increasing responsibility across GEs businesses. Prior to 3M, Peter served as chief executive officer of TireHub, a joint venture last mile distributor between Bridgestone and Goodyear. The information shown here is a reporting of information included in the company's proxy statement. 2 0 obj VUL^07d=xy2 *'..j(( Hs00 He previously led the companys litigation function, and served for more than ten years as chief intellectual property counsel, with responsibility for managing the global intellectual property assets of 3M and its worldwide affiliates. <> Kevin is a registered patent attorney and has served as President of the Intellectual Property Owners Association and the Association of Corporate Patent Counsel, as well as Chair of the Steering Committee of the Coalition for 21st Century Patent Reform. 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. AP6D. 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. Formal board meetings where all the directors are present typically occur four to six times per year, depending on the company. 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 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. Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. He serves on the board of Abbott Laboratories and on the University of Minnesota Foundation Board of Trustees. The median compensation for members of private company boards of directors was $44,850 in 2021, according to a global study by Lodestone Global. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. His growth mindset, inclusive leadership, and orientation toward developing talent and culture has helped him lead highly successful complex changes and significant transformation. Posted by Michael Ferrante and Connor Damon, FW Cook, on, Harvard Law School Forum on Corporate Governance, Prevalence of annual limits on director compensation remains high, with equity-only limits continuing to be the most common approach, though use of total compensation limits. Throughout his career he has led large technology transformations including SAP implementations, digital initiatives and cybersecurity. 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. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. He was elected to the Cargill Board of Directors in 2000 and elected Chairman of the Board in 2007. The estimated base pay is $176,111 per year. Prior to her current role, Ms. Kereere served as Fiservs Chief Growth Officer, leading strategy and business development to enhance client value and accelerate growth. Hornbaker says attending committee meetings might be another responsibility. Another example would be compensation meetings to discuss compensation plans and awards.. Bldg. He served in that role until 2012, when he became global business director for 3Ms Industrial Adhesives and Tapes Division. A director elected to the Board after the beginning of a Plan Year may elect, by written notice to 3M within 30 days after such director's term begins, to participate in the Compensation alternatives for the remainder of that Plan Year, and election for succeeding years shall be on the same basis as for other directors. At 3M, we promise to treat your data with respect and will not share your information with any third party. 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. In 1996, the National Association of Corporate Directors (NACD) issued the Blue Ribbon Commission Report on Director Professionalism, which had a great influence on board member compensation practices. You will compete for board positions with people who have been extremely successful at a young age. "Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? Lodestone Global. Ms. Chow earned her bachelor's and master's degrees in electrical engineering, and a master's degree in business administration, from Cornell University. 3 0 obj 224-1W-02 For example, audit committees have regular meetings before public filings, she says. How accurate is this most likely Total Pay range (base + additional) of $270K-$455K/yr? Deloitte. The brands listed above are trademarks of 3M. Personal health and fitness are his passion. "People from all backgrounds and experiences work together and create new and differentiated solutions to solve our customers' and their customers' problems -- across so many industries and geographies.". That's actually a 5% increase from the year before. Mr. Brown served in various leadership capacities in global purchasing since joining Ford in 1999. President and CEO, Edison International, the parent company of Southern California Edison (SCE), one of the nations largest electric utilities, since 2016. "Definitive Proxy Statement, Apple 2021. Private company board compensation programs have two common cash components: An annual retainer (the amount paid to each eligible director on an annual or quarterly basis for board service) is offered by 71% of private companies surveyed. According to the company's 2021 proxystatement, Walmarts compensation program for outside directors offers base compensation of a $175,000 annual stock grant and a $100,000 annual retainer. Three years later, he was tapped to lead 3M's corporate research lab. 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 . He was most recently head of 3Ms Health Care Business Group, and prior to that led the companys Consumer Business Group. Pedro brings skills and experience in leading large companies and driving strategic improvements, and a deep understanding of the power of materials science to improve the world. Purpose: The Compensation Committee (the "Committee") of the Board of Directors of 3M Company reviews the Company's compensation practices and policies, annually reviews and You'll want to pursue networking both online and offline. In his free time, he enjoys spending time with his wife and three kids, as well as a variety of outdoor activities including hiking, biking and fishing. You may also find the annual proxy statement by going directly to the company's website. In 2008, he became Ford's Group Vice President, Global Purchasing, with responsibility for approximately $90 billion of production and non-production procurement for Ford operations worldwide. The more qualifications you can bring to the table, the better. Retired Group Vice President, Global Purchasing, Ford Motor Company, Retired Chief Executive Officer, AT&T Business, Retired Chief Financial Officer, Accenture. Working globally, and having led in United States, West Europe, and Asia Pacific, he has always focused on maximizing value for customers, employees, and shareholders. I am extremely thankful for the company and leaders I work for at 3M, Eric says. Retired Chairman and Chief Executive Officer of Cargill. Chairman of the Board and Chief Executive Officer of 3M Company. Mr. Dillon began his retailing career at Dillon Companies, Inc. (later a subsidiary of The Kroger Co.) in 1976 and advanced through various management positions, including its President from 1986-1995. Mr. [Br*L7r/Nv&rrzDGx0V:o,eIY^'(O >vXT cct"o3jvYEfp.w$}0BirMZIHI6M)9z?eOtp'pON{~YN>=mCs:a'heTb\G. 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 . The Technology and Industrials sectors have the highest prevalence of stock options at 18% and 10% prevalence, respectively, granted in isolation or in tandem with full-value stock awards. 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. Leaders serve by creating an inclusive environment which values diverse perspectives, teamwork and innovation. The board chair receives an additional $200,000; the audit committee chair receives an additional $35,000; the compensation committee chair receives an additional $30,000, and the nominating committee chair receives an additional $25,000. Our household income is $240k and have $400k for down payment after selling all stocks. Bldg. The proxy statement's main purpose is to alert shareholders to the annual meeting and provide them information about the issues that will be voted on during the annual meeting, including decisions such as electing directors, ratifying the selection of auditors, and other shareholder-related decisions, including shareholder-initiated initiatives. Outside directors who hold certain board positions receive an additional annual retainer:$35,000 for the lead independent director; $25,000 for audit committee members and for compensation, nominating, and governance committee members; and $20,000 for strategic planning and finance committee chairs and for technology and eCommerce committee chairs. Mr. Dillon is on the board of the following public company in addition to 3M: Union Pacific Corporation. So what does he do when hes not in the office? This compensation may impact how and where listings appear. You can learn more about the standards we follow in producing accurate, unbiased content in our. You must click the activation link in order to complete your subscription. 3M Investor Relations Department Ms. Chow also has a long track record of community leadership involvement in strategic board and advisory work focused on driving success at the intersection of people, culture, and technology. 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 . From December 2006 through June 2008, Mr. Kent served as President and Chief Operating Officer of The Coca-Cola Company. It begins with actively listening and then relentlessly working to deliver outcomes to solve customer problems, says Monish. "U.S. company directors compensated more than ever, but now risk backlash.". Tel: (651) 737-6523 3M Investor Relations Department Mike and his family enjoy a variety of physical fitness and outdoor activities. That's actually a 5% increase from the year before . She served as the CEO of AT&T Business from 2019 to 2022 after having served in various executive leadership positions at AT&T since 2000. Its about creating an environment that unlocks the full potential of teams and individuals and, as a result, achieves even higher performance and more engaged employees.. After submitting your request, you will receive an activation email to the requested email address. The brands listed above are trademarks of 3M. Mr. Pizarro is a vice chairman of the Edison Electric Institute, a director of the Electric Power Research Institute, a member of the Electricity Subsector Coordinating Council, and a Trustee of the California Institute of Technology. x\s6(uj L3#inj'Flt?MR4(X,v _u]o_m-W?wpys1_#i5HJ You must click the activation link in order to complete your subscription. Prior to her current role, she served as senior vice president of Talent, Learning and Insights. Mike Vale leads 3Ms Safety & Industrial Business Group, which includes personal safety, adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules. Prior to 3M, she served as a business leader and consultant for various companies in Mexico and Europe. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. In 2016, John moved to West Europe to serve as managing director of 3M's D-A-CH region, which represents the company's combined operations in . For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. 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. Lead, Columbia University's SIPA Tech & Policy Initiative; . 102 0 obj <> endobj Ms. Lynch has helmed CVS Health since February 2021 and leads more than 300,000 employees, according to a . I wanted to make sure that the company was really serious about doing this work and that this was something I could see myself getting behind to make a difference because I have a bias for action. He serves on the boards of Special Olympics International, Cambridge China Development Trust, Council on Foreign Relations, and Emory University. He served in that role until 2012, when he became global business director for 3M's Industrial Adhesives and Tapes Division. This is a defining time for all companies and 3M is no different in that respect, Scott said. He then led Research & Development for the formerly Industrial Business Group initially in Asia Pacific and later globally. 4 0 obj 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. hb```e``3,00```T~s@@(` If you experience any issues with this process, please contact us for further assistance. 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. The estimated additional pay is $169,271 per year. Definition, What's In It, and Voting, Non-Executive Director Role and Responsibilities Defined, Fiduciary Definition: Examples and Why They Are Important, Private Company Board Compensation Survey. 3M leverages its 51 technology platforms to create differentiated solutions for customers through four business groups: Safety & Industrial, Transportation & Electronics, Health Care, and Consumer. The Company assumes no obligation to update or revise any forward-looking statements. Dr. Ashish Khandpur is group president of 3Ms Transportation and Electronics Business Group. As a CTO, Ashish led the global 3M team of over 8,000 scientists and engineers. We believe that good corporate governance serves the long-term interests of stockholders, strengthens the Board and management, and further enhances the public trust 3M has earned from more than a century of operating with uncompromising integrity and doing business the right way.

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