3m board of directors compensation

<>/Metadata 125 0 R/ViewerPreferences 126 0 R>> In his free time, Kevin enjoys travel, outdoor activities including fishing, hiking and gardening, and spending time with his family. (2005-2013) (alternate member of the Board of Directors, (1999 to 2005)) Previous experience. It begins with actively listening and then relentlessly working to deliver outcomes to solve customer problems, says Monish. Dow's Board of Directors exemplifies good governance with solid, diverse experience and credentials. Corporate Governance - Board of Directors - Mastercard Retired, Chief Executive Officer of AT&T Business, an organization that provided a full suite of business services across wireless, networking, cybersecurity, and advanced solutions, serving nearly 3 million business customers in more than 200 countries and territories around the world. Throughout his career Jeff has held leadership roles spanning all four of 3Ms business groups, including positions in the companys health care and industrial businesses, and most recently as leader of the automotive and aerospace business. 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. investorrelations@3M.com. A corporation is a separate legal entity from its owners. "Anne has decades of experience in technology and business, and a proven track record of transforming global organizations and community engagement. He retired from Ford on August 1, 2013. Thorough reviews have been conducted to assure this data accurately reflects disclosures. Prior to 3M, Monish spent 26 years at GE where he held a variety of roles of increasing responsibility across GEs businesses. The estimated total pay for a Director at 3M is $346,118 per year. John came to 3M in 1995 as a research chemist in the corporate R&D organization, working primarily on acrylic adhesives and tapes. He has held a wide range of other senior executive positions at the Edison International companies since joining in 1999. Dr. Moyo is on the board of the following organizations in addition to 3M: Chevron Corporation and Conde Nast. oYgd=??/_C|72KFSI. 3M - Governance - Board of Directors 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. 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. Chairman of the Board and Chief Executive Officer of 3M Company. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Hood joined Microsoft in 2002, and through her tenure with the company has advanced momentum in cloud and helped digitally transform the company. 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.. Mr. Pizarro served as president of SCE from 2014 to 2016. endstream endobj startxref Averages based on self-reported salaries. If you experience any issues with this process, please contact us for further assistance. Creating an atmosphere that allows people to perform at their best, collaborate broadly and enrich their own perspective makes for powerful outcomes.. He joined 3M in 1987 as a health care sales representative. 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. You can sign up for additional alert options at any time. Ms. 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%). Hornbaker says attending committee meetings might be another responsibility. He returned to the Visual Systems Division before another posting in Italy as a laboratory and project manager. Executive search firms can streamline the process since theyll know about available positions. 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. 3M has increased its dividend for 64 straight years. He serves on the board of Abbott Laboratories and on the University of Minnesota Foundation Board of Trustees. 3M Expands Board of Directors - ISSA Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. He oversaw annual R&D investments of nearly $2 billion, while building 3Ms digital capabilities and bringing the companys technology expertise even closer to customers around the world. Ms. Chow 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. 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. Mark holds a bachelors degree in electrical engineering from Purdue University, and an M.B.A. from Indiana University. c/o Abbott Corporate Secretary. ", Veritas. They also recommended doing away with pension and . 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. In his spare time, he dedicates himself to being a loving husband and father and growing his family. Anne Chow and Pedro Pizarro elected to 3M Board of Directors He joined 3M in 1988 as a senior design engineer. 0 10 S. Dearborn St., 54th Floor. For nine straight years, 3M has been recognized by Ethisphere as one of the Worlds Most Ethical Companies. PDF 3M Board of Directors Nominating and Governance Committee Charter Three years later, he was tapped to lead 3M's corporate research lab. Leonteq publishes agenda and proposal of the Board of Directors for the Mr. Anderson served without compensation as the President and Chief Executive Officer of Amtrak, an intercity passenger rail service provider, from July 2017 until his retirement on April 15, 2020. . Ms. Kereere is also a longtime champion for equity and inclusion in business and society. Prior to 3M, she served as a business leader and consultant for various companies in Mexico and Europe. Board membership is less stressful and time-consuming than earlier positions board members have taken on, while still offering an impressive income. 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. 102 0 obj <> endobj As a board member, your responsibilities would typically include preparing for and attending board meetings, and reviewing company filings and materials, she says, as well as advising management on a wide range of matters, including succession, strategy, compensation, and acquisitions. You will compete for board positions with people who have been extremely successful at a young age. She currently serves as Lead Director on the Board of Directors for FranklinCovey and as Adjunct Professor of Executive Education at the Kellogg School of Management, Northwestern University. %%EOF Erics last role was Group President of Enterprise Operations, where he led global Manufacturing and Supply Chain for 3M, driving end-to-end optimization. As an outside director, you could bring a fresh perspective to a corporate board and leverage your years of experience as an executive into a satisfying new project that still leaves you with enough time to do your day job or enjoy your retirement. In 2017 she was named global business director for 3Ms home improvement business, until 2020 when she became senior vice president for customer operations. Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. 3M Company Board of Directors Compensation Committee Charter (As Affirmed February 5, 2019) A. 3 0 obj 123 0 obj <>stream Kereere has over 20 years of experience in leading global . Ms. Chow is on the board of the following public company in addition to 3M: FranklinCovey. Ms. Chow 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. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Mike later became general manager of 3M Spain. The proxy statement also says the company isseekingexpertise in governance, strategy, development, and execution; people who understand financial, operational and strategic issues facing large retail companies; global or international business experience; technology and e-commerce experience; marketing, brand management or public relations experience; finance, accounting, or financial reporting experience; or regulatory or legal experience. Monish joined 3M as senior vice president and chief financial officer in July 2020 and was drawn to the company for its history of innovation, ethics and global reach. Lodestone Global. Retired Chief Financial Officer, Accenture plc., a global management consulting, technology services and outsourcing company. The 3M board of directors is mostly composed of former CEOs. Engage in conversations about Director pay with other professionals in the community. CVS Health CEO tapped for Biden's Export Council A non-executive director is a member of a company's board of directors who is not part of the executive team. Not surprisingly, the most lucrative seats go to directors at S&P 500 companies. Phone: 651-737-6501 or 800-3M-HELPS 3M Investor Relations Department Bldg. He was assigned to lead 3Ms $5.5B Electronics & Energy Business Group in July 2017. She is also actively involved in charitable organizations, focused on education and on the advancement of women in business, including The Womens Forum of New York, New York University Stern School of Business, Junior Achievement of New Jersey, and is a board member for Smith College Trustees. Of this total $135,000 was received as fees earned or paid in cash, $0 was received as non-stock incentive plan compensation, $0 was received as change in pension value and nonqualified deferred compensation earnings, $0 was received as options, $185,000 . 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. 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. "2020 Proxy Statement," Page 12. As CEO, she was responsible for AT&T's Business Solutions organization that provided a full suite of business services across wireless, networking, cybersecurity, and advanced solutions, serving nearly 3million business customers in more than 200 countries and territories around the world. By unlocking the power of people, ideas and science to reimagine what's possible, our global team uniquely addresses the opportunities and challenges of our customers, communities, and planet. Mr. Fitterling was named CEO-elect of Dow in March 2018 prior to becoming CEO in July 2018, and he was elected chairman in April 2020. Similar to last year, 63% of companies provide additional compensation to committee members. 4 0 obj 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: the large-cap median increased 1.6% to $290,000, the mid-cap median increased 1.7% to $216,950, and the small-cap median increased 5.1% to $163,500. Hornbaker also recommends becoming educated on the fundamentals of governance and directorship through a program such as the National Association of Corporate Directors Director Professionalism program. Why Investors Should Look at the Proxy Statement, Disney Names New Chair, Eases Park Rules Amid Proxy Battle. News & Views 2/17/2022 3M Adds To Board Of Directors. Investopedia does not include all offers available in the marketplace. He was most recently head of 3Ms Health Care Business Group, and prior to that led the companys Consumer Business Group. View original content to download multimedia:https://www.prnewswire.com/news-releases/anne-chow-and-pedro-pizarro-elected-to-3m-board-of-directors-301741429.html. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. Mike Roman is chairman of the board and chief executive officer of 3M, a $35 billion science and manufacturing company that improves lives around the world. %PDF-1.7 The average salary for a Director is $129,368 per year in United States, which is 62% lower than the average 3M salary of $346,118 per year for this job. Mr. Kent is a member of the board and past Co-Chair of The Consumer Goods Forum and past Chairman of the International Business Council of the World Economic Forum. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Mr. Dillon served as a Director of the Kroger Co. from 1995 through 2014. 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. This is a defining time for all companies and 3M is no different in that respect, Scott said. During his assignment as the laboratory head in India, Ashish was responsible for establishing its first product development laboratory and capabilities. Various senior positions at Ita Unibanco Group , including CEO (January 2017 . At 3M, we promise to treat your data with respect and will not share your information with any third party. The compensation analysis excludes any temporary reductions to director compensation implemented due to the pandemic. These include white papers, government data, original reporting, and interviews with industry experts. How accurate is this most likely Total Pay range (base + additional) of $270K-$455K/yr? In this role, he leverages his many years of experience as both a technology and business leader. 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. He has held a wide range of other senior executive positions at the Edison International companies since joining in 1999. Mike holds a masters degree in Electrical Engineering from the University of Southern California, and a bachelors degree from the University of Minnesota. Make sure you develop a board resume that positions you as qualified for the corporations board, says Rene Hornbaker, who currently serves on the boards of Eastman Chemical Company, The Freeman Company, and Tri Global Energy. 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. Every day her team is focused on attracting, supporting, and developing talent, and ensuring 3M is a place where everyone belongs, learns, innovates and thrives. 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. 3M Investor Relations Department Ive been fortunate enough to see this company from many, many anglesand 3M is impressive no matter where you are in the world.. From December 2006 through June 2008, Mr. Kent served as President and Chief Operating Officer of The Coca-Cola Company. Director compensation structure remains consistent with prior years, with an average mix of 57% equity and 43% cash across the entire sample. Make sure your resume states what you will specifically bring to the table as a board member.. 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? By unlocking the power of people, ideas, and science to reimagine what's possible, our global team uniquely addresses the opportunities and challenges of our customers, communities, and planet. [Br*L7r/Nv&rrzDGx0V:o,eIY^'(O >vXT cct"o3jvYEfp.w$}0BirMZIHI6M)9z?eOtp'pON{~YN>=mCs:a'heTb\G. 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. The report recommended that companies start compensating board directors with cash and equity. 3m Compensation Plan For Non-employee Directors

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