3m board of directors compensation

Mr. Roman also has held numerous leadership positions in Asia Pacific and Europe, across multiple businesses. Approximately 85% of companies have director ownership guidelines, while stock retention requirements are less common, present at 42% of companies. Help make it more accurate by adding yours. He received his J.D., magna cum laude, from Northwestern University; and his B.A. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. From January 2006 through December 2006, Mr. Kent served as President of Coca-Cola International. Walmart's current board members include Cesar Conde, 47, chair of NBCUniversal, and Marissa Mayer, 46, who is well-known for the high positions she achieved at Google and Yahoo. Fixed retainers remain more prevalent than meeting fees as the means to deliver additional 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. 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. Coronavirus Tips Working and Protection, For its 2021 fiscal year, 3M CO, listed the following executives on its annual proxy statement to the SEC. Anne Chow's career in the technology and business sectors spans over three decades. ", Boston Globe. She also worked at the World Bank in Washington, D.C. from 1993 to 1995. As executive vice president, chief technology officer and environmental responsibility, Dr. John Banovetz leads more than 8,000 scientists who connect 3Ms 51 technology platforms to solve the real-world needs of customers around the world. 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. In his current position, John remains focused on driving change, challenging the status quo and helping develop the 3M leaders of tomorrow. Head of Global Business Solutions, Fiserv, Inc. After spending almost two years with Aearo integrating it into 3M, Mike became managing director of 3M Brazil in 2009. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Prior to joining 3M in 2001, Kevin was a partner at Kirkland & Ellis in Chicago. 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. He was appointed 3Ms chief technology officer and senior vice president of research and development in July 2017. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Mr. Brown is on the board of the following public company in addition to 3M: Tower International, Inc. Equity grants most commonly vest immediately, or cliff-vest after one year. She has been married more than 20 years, with two teenage kids. 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. Page is on the board of the following public companies in addition to 3M: Eaton Corporation, Deere & Company. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. For example, audit committees have regular meetings before public filings, she says. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. The information shown here is a reporting of information included in the company's proxy statement. Zoe joined 3M in 1998, and has held roles of increasing responsibility in human resources across the companys businesses and geographic areas. 3M(NYSE: MMM) believes science helps create a brighter world for everyone. An audit committee is the part of a company's board of directors in charge financial reporting and disclosure. He was assigned to lead 3Ms $5.5B Electronics & Energy Business Group in July 2017. 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. 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. Mr. Dillon served as a Director of the Kroger Co. from 1995 through 2014. Know Your Worth. Get a free, personalized salary estimate based on today's job market. 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. Apples non-employee directors each receive approximately $250,000 worth of restricted stock units per year, which are granted at the annual shareholder meeting and vest on Feb. 1 of the following year. 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. A corporation is a separate legal entity from its owners. He served in that role until 2012, when he became global business director for 3Ms Industrial Adhesives and Tapes Division. He leads a team that, among other things, helps to keep the world connected by improving efficiency in electronic devices and data centers, enables e-mobility, and advances transportation and its safety. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> 0 They will provide invaluable insight and perspective to our board as we continue to position 3M for the future.". 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. 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. One of our four strategic priorities at 3M is People & Culture because we know we will drive growth in our business and change in our communities by developing talent in an inclusive environment, Zoe says. This report is not for commercial use. Most recently he served as CFO of GE Healthcare. 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. Dr. Moyo served as Global Economist & Capital Markets at Goldman Sachs from 2001 to 2008. Mr. Dillon served as President from 1995 to 2003 and was elected Executive Vice President in 1990. from Grinnell College. Mike and his family enjoy a variety of physical fitness and outdoor activities. A. c/o Abbott Corporate Secretary. As a member of Board of Directors at 3M CO , Thomas made $320,487 in total compensation. 10 S. Dearborn St., 54th Floor. Retired Chairman of the Board and Chief Executive Officer, The Kroger Co. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. ", Reuters. Peter Gibbons joined 3M in November 2021 as group president of Enterprise Operations, which brings together manufacturing, supply chain and customer operations, and is focused on optimizing the customer experience through end-to-end aligned and agile operations. For its 2021 fiscal year, 3M CO, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Retired Group Vice President, Global Purchasing, Ford Motor Company, a global automotive industry leader. I am extremely thankful for the company and leaders I work for at 3M, Eric says. He then led Research & Development for the formerly Industrial Business Group initially in Asia Pacific and later globally. U.S. Securities and Exchange Commission. Throughout his career he has led large technology transformations including SAP implementations, digital initiatives and cybersecurity. At 3M, we promise to treat your data with respect and will not share your information with any third party. Leaders serve by creating an inclusive environment which values diverse perspectives, teamwork and innovation. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Its that excitement, mixed with his incredible passion and leadership, that has led to some of 3Ms biggest equitable actions in the past year. 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 . Amy Fontinelle has more than 15 years of experience covering personal finance, corporate finance and investing. Eric joined 3M in 1997, and held several leadership positions in the Finance organization, primarily in Health Care and Electronics. He holds a bachelors degree in Physics from University of Edinburgh and a masters degree in Business Administration from Strathclyde Business School in Glasgow, Scotland. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Averages based on self-reported salaries. If you experience any issues with this process, please contact us for further assistance. Related Searches:All Director Salaries|All 3M Salaries. Prior to 3M, Mark served as Chief Information Officer for Abbott Laboratories where he had global responsibilities for Abbotts technology landscape. That's actually a 5% increase from the year before. They range from recent retirees and people nearing retirement to younger people who've experienced early successes in business. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. 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. That's a 43% increase over 10 years. 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. You must click the activation link in order to complete your subscription. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. 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. 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. 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. 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. investorrelations@3M.com. 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. Learn how this feature works. 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. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. "I believe that building confidence and removing the fear of failure are key components of leadership," says Peter. In his free time, Kevin enjoys travel, outdoor activities including fishing, hiking and gardening, and spending time with his family. 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. In this role, he leverages his many years of experience as both a technology and business leader. Ive been fortunate enough to see this company from many, many anglesand 3M is impressive no matter where you are in the world.. The median decrease in director compensation was 50% at S&P 500 companies and 40% at Russell 3000 companies. For the past eight years, Ms. Our household income is $240k and have $400k for down payment after selling all stocks. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Non-employee directors also receive an annual cash retainer of $100,000. 3M Expands Board of Directors February 14, 2022. He returned to the Visual Systems Division before another posting in Italy as a laboratory and project manager. Mr. Brown served in various leadership capacities in global purchasing since joining Ford in 1999. I have been an Office Manager 21 yrs. Prior to GE, Monish gained experience at A.F. Retired Chairman of the Board and Chief Executive Officer, The Coca-Cola Company, the worlds largest beverage company. Director compensation structure remains consistent with prior years, with an average mix of 57% equity and 43% cash across the entire sample. 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. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. A decades-long career at 3M can span a diverse range of businesses, market segments and geographies, Mike says. U.S. company directors compensated more than ever, but now risk backlash, Few Hours, Soaring Pay for Corporate Board Members. Prior to that, Mr. Roman served as Executive Vice President and Chief Operating Officer of 3M Company from July 2017 to June 2018, Executive Vice President of 3Ms Industrial Business from May 2014 to June 2017, and Senior Vice President of Business Development from May 2013 to May 2014, with responsibility for 3Ms strategic roadmap. Ashish has been with the company for more than 26 years. By learning about the backgrounds of existing board members, you can extrapolate what they may be looking for in new ones. Jeff has lived and worked internationally for 3M, and always with a great passion on exceeding customer expectations. News & Views 2/17/2022 3M Adds To 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. 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. It goes a lot higher from there. 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. Mark holds a bachelors degree in electrical engineering from Purdue University, and an M.B.A. from Indiana University. Bldg. 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. 3M CO income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. She earned a B.A. endstream endobj startxref He was a senior research chemist in the Visual Systems Division before joining 3M Italy as a product development engineer. She earned her degree in manufacturing engineering from Brunel University London, and diploma in personnel management from Thames Valley University. He joined 3M in 1987 as a health care sales representative. He enjoys pushing himself mentally and physically in a broad range of athletics. Similar to last year, 63% of companies provide additional compensation to committee members. Page also serves as non-executive Chairman of the Board of Corteva Agriscience. Hornbaker suggests giving your resume to search firms youve dealt with in the past and letting them know you're interested in obtaining a board position. "Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? 4 0 obj x\s6(uj L3#inj'Flt?MR4(X,v _u]o_m-W?wpys1_#i5HJ Ferguson & Co, a former KPMG affiliate. Could you fill that gap? The median compensation for members of private company boards of directors was $44,850 in 2021, according to a global study by Lodestone Global. 224-1W-02 With more than 25 years of extensive experience leading the financial operations of industrial and healthcare businesses, Monish Patolawala, 3Ms executive vice president and chief financial and transformation officer, understands what it takes to drive profitable growth in an ever-changing environment. 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. She is deeply involved in the companys operations, as well as the strategy development and overall execution of the companys successful acquisitions of LinkedIn and GitHub. In his 35-year career with the company, he has played a key role in its transformation, from lower-margin, commodity businesses to one more deeply focused on higher-growth consumer demand-driven markets that value innovation. 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. In connection with Ms. Chow and Mr. Pizarro's election, the Board of Directors increased its size from 11 to 13 members. 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. She 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. Prior to 3M, she served as a business leader and consultant for various companies in Mexico and Europe. 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 He previously served as chief operating officer, led 3Ms largest business group and was chief strategist. To effectively drive growth, it is important to keep the customer at the center of everything we do. 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. 03.03.2023 - Leonteq AG / Key word(s): AGMEGM Press release: Leonteq publishes agenda and proposal of the Board of Directors for the Annual General Meeting 2023 03.03.2023 / 07:00 CET/CEST PRESS . 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.

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