3m board of directors compensation

Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. Effective July 1, 2022, Jeff is also leading 3Ms Health Care Business Group on an interim basis. Equity grants most commonly vest immediately, or cliff-vest after one year. "3M is a globally diverse company in so many dimensions," Ashish says. Mr. Pizarro served as president of SCE from 2014 to 2016. 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). 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. Bldg. 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 2008, he returned to the U.S. to become vice president and general manager of Aearo Technologies LLC, which 3M acquired that year. [Br*L7r/Nv&rrzDGx0V:o,eIY^'(O >vXT cct"o3jvYEfp.w$}0BirMZIHI6M)9z?eOtp'pON{~YN>=mCs:a'heTb\G. Non-employee directors also receive an annual cash retainer of $100,000. Eric Hammes is 3Ms executive vice president, chief country governance and services officer. Executive search firms can streamline the process since theyll know about available positions. periodically receive reports on the status of Board compensation in relation to other large U.S. companies and is responsible for recommending to . 10 S. Dearborn St., 54th Floor. Board of Directors | Corporate Governance | Dow Investor Relations % 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. Its that excitement, mixed with his incredible passion and leadership, that has led to some of 3Ms biggest equitable actions in the past year. Sleep, Mike jokes, though he will say more seriously that he tries to focus his energies where they will do the most good. Incorporation is the legal process by which a business entity is formed. Investopedia requires writers to use primary sources to support their work. St. Paul, MN 55144-1000 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 3M CO annual reports of executive compensation and pay are most commonly found in the Def 14a documents. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Why Investors Should Look at the Proxy Statement, Disney Names New Chair, Eases Park Rules Amid Proxy Battle. You may communicate with the board of directors by writing a letter to the chairman of the board, to the chairman of the nominations and governance committee, who acts as the lead director at the meetings of the independent directors, or to the independent directors. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. She also worked at the World Bank in Washington, D.C. from 1993 to 1995. At 3M, we promise to treat your data with respect and will not share your information with any third party. Zoe is a chartered member of Chartered Institute of Personnel & Development. 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. Of this total $47,843 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 . 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. As a member of Board of Directors at 3M CO , Thomas made $320,487 in total compensation. Ferguson & Co, a former KPMG affiliate. endstream endobj startxref If you experience any issues with this process, please contact us for further assistance. investorrelations@3M.com. The Company assumes no obligation to update or revise any forward-looking statements. The brands listed above are trademarks of 3M. In connection with Ms. Chow and Mr. Pizarro's election, the Board of Directors increased its size from 11 to 13 members. He most recently was Senior Vice President and Deputy General Counsel, advising senior management and the Board of Directors on legal issues. Walmart. Erics last role was Group President of Enterprise Operations, where he led global Manufacturing and Supply Chain for 3M, driving end-to-end optimization. Ms. Chow is on the board of the following public company in addition to 3M: FranklinCovey. Tel: (651) 737-6523 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 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. So what does he do when hes not in the office? Outside of work he enjoys reading, following college sports and spending time with his family. Mike holds a masters degree in Electrical Engineering from the University of Southern California, and a bachelors degree from the University of Minnesota. Retired Chairman and Chief Executive Officer of Cargill. The Board is mainly comprised of outside, independent directors. 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 . Mark Murphy has more than two decades of experience developing and leading global technology organizations across multiple industries including healthcare, medical device, retail and financial services. Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor tax expert. Ms. Kereere is also a longtime champion for equity and inclusion in business and society. This would be in addition to the peer group benchmarks (what other CEOs make) that the company uses to determine CEO compensation. 3m Compensation Plan For Non-employee Directors I feel blessed and give everything I have to leave 3M in a better place, every day.. Various senior positions at Ita Unibanco Group , including CEO (January 2017 . I have been trying to get a review ever since and no one will say what is going on. "We are very pleased to further strengthen 3M's board with two highly accomplished, world-class leaders," said 3M chairman and CEO Mike Roman. By learning about the backgrounds of existing board members, you can extrapolate what they may be looking for in new ones. 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. Bldg. 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. As executive vice president and chief human resources officer, Zoe Dickson leads 3Ms transformative agenda for people and culture. Throughout his 20-year 3M career, Kevin has led legal teams in areas of increasing responsibility. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. 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. Jeff has lived and worked internationally for 3M, and always with a great passion on exceeding customer expectations. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. In this role, Kevin led ongoing efforts during the COVID-19 pandemic to combat fraud, counterfeiting, and price gouging of N95 respirators. Engage in conversations about Director pay with other professionals in the community. He joined 3M in 1987 as a health care sales representative. Board members in general, by the way, participated in an average of 7.9 meetings, in person or remotely, during the year. 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.". 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. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. Hood has acted as a strategic partner to Microsoft CEO Satya Nadella, propelling long-term financial growth, championing culture and driving corporate initiatives including Microsofts climate and affordable housing commitments, that have bolstered the companys broader ecosystem. Dr. Moyo served as Global Economist & Capital Markets at Goldman Sachs from 2001 to 2008. The Health Care Business Group makes better health possible by delivering proven innovations in medical and oral care, health information systems, and food safety, enabling healthcare professionals to improve quality of care for millions of people around the globe. 224-1W-02 By learning about the backgrounds of existing board members, you can extrapolate what the company is probably looking for in new ones. 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. To effectively drive growth, it is important to keep the customer at the center of everything we do. The prevalence of committee member retainers has been stable year-over-year, while the use of committee meeting fees continues to decrease. The median board retainer for large-cap companies increased slightly by $2,500 to $92,500 and remained flat at mid-cap and small-cap companies (at $75,000 and $60,000, respectively). You may also find the annual proxy statement by going directly to the company's website. Before that, he served as president and chief operating officer of Dow and also previously served as chief operating officer for the Materials Science division of DowDuPont. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. Dont have any other debt - however this expensive mortgage would take half my monthly salary (post tax).. A fiduciary is a person or organization that acts on behalf of a person or persons and is legally bound to act solely in their best interests. Chairman of the Board and Chief Executive Officer, Executive Vice President, Chief Technology Officer and Environmental Responsibility, Senior Vice President and Chief Strategy Officer, Executive Vice President and Chief Human Resources Officer, Executive Vice President, Chief Country Governance and Services Officer, Group President, Transportation & Electronics, Group President, Consumer and Interim Group President, Health Care, Executive Vice President, Chief Information and Digital Officer, Executive Vice President, Chief Financial and Transformation Officer, Executive Vice President and Chief Legal Affairs Officer, Caution Concerning Forward-Looking Statements, SDS, RDS, More Regulatory & Compliance Information. The Boston Globe reports that the average time commitment to serve on a board is fewer than five hours per week. 3M (NYSE: MMM) believes science helps create a brighter world for everyone. It operates through the following segments: Safety and Industrial,. 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. He serves on the board of Abbott Laboratories and on the University of Minnesota Foundation Board of Trustees. 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. Throughout Mikes career, he has lived and led businesses around the world, including the United States, Europe and Asia. As vice president of operational transformation, he led the companys transformation initiatives driving operating rigor and lean management across the company. The Company assumes no obligation to update or revise any forward-looking statements. Mike serves as a member of the board of directors of The Toro Company and is a former trustee of the Science Museum of Minnesota. In addition to his role at 3M, he is on the Presidents Council of Advisors on Science and Technology (PCAST), the Board of Trustees at the Science Museum of Minnesota and is an emeritus trustee for Hamline University. Average compensation in 2018 at those firms was $304,856, according to Reuters. In recent years, companies have also begun to seek ethnic and gender diversity on their boards. All proxy statements are public filings made available to the general public by the SEC. He served as Coca-Colas Chief Executive Officer from July 2008 to April 2017. 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. Chairman and Chief Executive Officer of Dow, Inc., a leading global materials science company. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. The information shown here is a reporting of information included in the company's proxy statement. 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. Effective April 1, 2019, Ashish was appointed to lead the newly created 3Ms Transportation and Electronics Business Group, with total revenues of approximately $10B. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Mr. Pizarro is a member of Edison International's Board of Directors. Learn how we're working to improve lives and make what's next at 3M.com/newsor on Twitter at@3Mor@3MNews. He serves on the boards of Special Olympics International, Cambridge China Development Trust, Council on Foreign Relations, and Emory University. You must click the activation link in order to complete your subscription. Aside from the financial compensation, your reward will be having substantial input into major decisions made by the company, such as executive hires, policies on dividends and stock options, and executive payall while representing the best interests of management and shareholders. 3M leverages its 51 technology platforms to create differentiated solutions for customers through four business groups: Safety & Industrial, Transportation & Electronics, Health Care, and Consumer. Kereere has over 20 years of experience in leading global . During his assignment as the laboratory head in India, Ashish was responsible for establishing its first product development laboratory and capabilities. Shareholders can communicate with the Chairman of the Corporate Governance Committee or with the independent directors as a group by writing to them c/o: Gayle Littleton, Executive Vice President, General Counsel. 3M CO Board Member Muhtar Kent | Salary.com 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.