Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. 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 approves the compensation for the CEO and other senior executives, . USW Proposal Spotlights Excessive 3M CEO Compensation 6 yrs at my current company. As executive vice president and chief human resources officer, Zoe Dickson leads 3Ms transformative agenda for people and culture. Jeff Lavers is the group president of 3Ms Consumer Business Group. 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. Dr. Moyo is a global economist and author who analyzes the macroeconomy and international affairs. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. The Technology sector provides the highest median equity retainer ($161,595) and Financial Services the lowest ($100,000). 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. Leadership is facilitating and embracing evolution, and accompanying the paths for change, Karina says. 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. A non-executive director is a member of a company's board of directors who is not part of the executive team. 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. It claims that including the USW proposal would involve "significant time, cost and resource . This is an opportunity for us to shape what were going to be for the next 100 years., We need to act with purpose: One 3Mer's passion is shaping 3M's approach to addressing equity in STEM, Averages based on self-reported salaries. "I believe that building confidence and removing the fear of failure are key components of leadership," says Peter. From May 2005 through January 2006, he was President and Chief Operating Officer of The Coca-Cola Companys North Asia, Eurasia and Middle East Group. <>/Metadata 125 0 R/ViewerPreferences 126 0 R>> The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. 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. Various senior positions at Ita Unibanco Group , including CEO (January 2017 . Retired Group Vice President, Global Purchasing, Ford Motor Company, Retired Chief Executive Officer, AT&T Business, Retired Chief Financial Officer, Accenture. 3M Company Board of Directors Compensation Committee Charter (As Affirmed February 5, 2019) A. Retired Chairman and Chief Executive Officer of Cargill. The median compensation for members of private company boards of directors was $44,850 in 2021, according to a global study by Lodestone Global. Throughout his 20-year 3M career, Kevin has led legal teams in areas of increasing responsibility. 3M CO Executive Salaries & Other Compensation | Salary.com To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. That's actually a 5% increase from the year before . 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. 3M Expands Board of Directors - ISSA John and his team also oversee 3Ms environmental responsibility efforts, with a focus on advancing environmental stewardship and accelerating 3Ms environmental commitments. 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. Page also serves as non-executive Chairman of the Board of Corteva Agriscience. 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. 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. 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. Prior to joining 3M in 2001, Kevin was a partner at Kirkland & Ellis in Chicago. 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.". He previously worked at St. Jude Medical for more than 15 years, holding multiple technology roles of increasing responsibility. Prior to GE, Monish gained experience at A.F. 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. Anne Chow's career in the technology and business sectors spans over three decades. She is married with two teenage children, and enjoys hiking, baking, and exploring the world with her family. In connection with Ms. Chow and Mr. Pizarro's election, the Board of Directors increased its size from 11 to 13 members. Mr. 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. He previously served as chief operating officer, led 3Ms largest business group and was chief strategist. 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. "Definitive Proxy Statement, Apple 2021. Phone: 651-737-6501 or 800-3M-HELPS 3M Investor Relations Department Bldg. PDF 3M Board of Directors Nominating and Governance Committee Charter 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. 3Ms culture brings together passionate people with purpose and strategy to solve some of the worlds toughest challenges.. For example, audit committees have regular meetings before public filings, she says. How can I negotiate if they say the offer is off, Planning to bid on a house - 1.3M, with a base salary of 210K - in Seattle.. Worth it? 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. After submitting your request, you will receive an activation email to the requested email address. 3m Compensation Plan For Non-employee Directors During his assignment as the laboratory head in India, Ashish was responsible for establishing its first product development laboratory and capabilities. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Eric joined 3M in 1997, and held several leadership positions in the Finance organization, primarily in Health Care and Electronics. Formal board meetings where all the directors are present typically occur four to six times per year, depending on the company. 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 Outside of work he enjoys reading, following college sports and spending time with his family. Its about supporting constant iteration, until a point you make yourself obsolete.. You can sign up for additional alert options at any time. 3M - Governance - Governance Documents 224-1W-02 Leonteq publishes agenda and proposal of the Board of Directors for the The estimated base pay is $176,111 per year. In 2018, he was inducted into the Intellectual Property Hall of Fame by the IP Hall of Fame Academy. Make sure your resume states what you will specifically bring to the table as a board member.. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Learn how this feature works. 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.. 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. At 3M, we promise to treat your data with respect and will not share your information with any third party. That's actually a 5% increase from the year before. Kevin Rhodes is Executive Vice President and Chief Legal Affairs Officer, overseeing legal, compliance, government affairs and global security matters for 3M. In this role, Kevin led ongoing efforts during the COVID-19 pandemic to combat fraud, counterfeiting, and price gouging of N95 respirators. 3M has increased its dividend for 64 straight years. 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, Abbott Laboratories, Dept 364, Bldg. 3M (NYSE: MMM) believes science helps create a brighter world for everyone. 3M Adds To Board Of Directors - CleanLink For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. Throughout her career she has led successful transformation, sales and customer initiatives at Fortune 100 companies across global business lines and regional high-growth start-ups. Ms. Chow is on the board of the following public company in addition to 3M: FranklinCovey. Board of Directors | Committees | Abbott U.S. News & Views 2/17/2022 3M Adds To Board Of Directors. Mr. Pizarro is on the board of the following public company in addition to 3M: Edison International. For nine straight years, 3M has been recognized by Ethisphere as one of the Worlds Most Ethical Companies. IBM Board of Directors (PAGE 10) Director Nominees IBM's Board is composed of a diverse, experienced group of global Not surprisingly, the most lucrative seats go to directors at S&P 500 companies. He led 3Ms International Finance organization, and also served four years as 3Ms Senior Vice President of FP&A and Chief Accounting Officer. He was a senior research chemist in the Visual Systems Division before joining 3M Italy as a product development engineer. In his spare time, he dedicates himself to being a loving husband and father and growing his family. Leaders serve by creating an inclusive environment which values diverse perspectives, teamwork and innovation. 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. Eric serves on the boards of the U.S. Chamber of Commerce, St. Paul & Minnesota Foundation, and National Association of Manufacturing. 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. Unsurprisingly, the board disagrees with the USW proposal. If you experience any issues with this process, please contact us for further assistance. 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. This post is based on their FW Cook memorandum. She also worked at the World Bank in Washington, D.C. from 1993 to 1995. Director Compensation - The Conference Board 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. 3M(NYSE: MMM) believes science helps create a brighter world for everyone. Corporate Governance - Board of Directors - Mastercard 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. For him, that comes down to business/market analysis and team success. 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. To effectively drive growth, it is important to keep the customer at the center of everything we do. 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). Thorough reviews have been conducted to assure this data accurately reflects disclosures. Retired Chairman of the Board and Chief Executive Officer, Cargill, Chairman of the Board and Chief Executive Officer, Caution Concerning Forward-Looking Statements, SDS, RDS, More Regulatory & Compliance Information. 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. 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. %PDF-1.7 Throughout his career he has led large technology transformations including SAP implementations, digital initiatives and cybersecurity. It regularly meets in executive session, without the presence of Rogers' management. Ferguson & Co, a former KPMG affiliate. 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. endstream endobj 103 0 obj <. You can sometimes learn what companies seek in their board members by reading the companys annual proxy statement. These descriptions are fairly generic. He also served as a trustee on the board for University of St. Thomas and as a board member of the 3M Foundation in the past with particular focus on STEM (science, technology, engineering and math) education.. The estimated total pay for a Director at 3M is $345,577 per year. To address this data deficiency, Compensation Advisory Partners (CAP) and Family Business and Private Company Director magazines conducts our Private Company Board Compensation and Governance Survey. Mr. Roman also has held numerous leadership positions in Asia Pacific and Europe, across multiple businesses. If youre interested in pursuing a board seat, heres what you need to know about what boards are looking for, how to get noticed, and what to expect as compensation. U.S. company directors compensated more than ever, but now risk backlash, Few Hours, Soaring Pay for Corporate Board Members. Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. Creating an atmosphere that allows people to perform at their best, collaborate broadly and enrich their own perspective makes for powerful outcomes.. 224-1W-02 St. Paul, MN 55144-1000 Tel: (651) 737-6523 investorrelations@3M.com President and CEO, Edison International, the parent company of Southern California Edison (SCE), one of the nations largest electric utilities, since 2016. PDF 3M Company Board of Directors Compensation and Talent Committee Charter The Boston Globe reports that the average time commitment to serve on a board is fewer than five hours per week. Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor tax expert. These include white papers, government data, original reporting, and interviews with industry experts. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. He joined 3M in 1988 as a senior design engineer. FW Cooks 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. Home to some of 3Ms most iconic brands, this business serves global consumers and consists of construction and home improvement, stationery and office supplies, home care, and consumer health care. Mike joined the company in 1992, shortly after earning a Ph.D. in chemistry from M.I.T. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. oYgd=??/_C|72KFSI. The 2022 Private Company Board Compensation Survey <> Mr. Dillon served as a Director of the Kroger Co. from 1995 through 2014. Board of Directors | Medtronic He then led Research & Development for the formerly Industrial Business Group initially in Asia Pacific and later globally. 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. St. Paul, MN 55144-1000 endstream endobj startxref She earned a B.A. A. 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. He serves on the boards of Special Olympics International, Cambridge China Development Trust, Council on Foreign Relations, and Emory University. 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 . Mr. Roman served as Chief Executive Officer of 3M Company from July 2018 to May 2019. 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. 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 . Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. 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. 4 0 obj Board members in general, by the way, participated in an average of 7.9 meetings, in person or remotely, during the year. 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. Obviously, if there is a crisis or a strategic issuefor example, an acquisitionthe number of hours for a director can dramatically increase, Rogers says. 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). After spending almost two years with Aearo integrating it into 3M, Mike became managing director of 3M Brazil in 2009. He has held a wide range of other senior executive positions at the Edison International companies since joining in 1999.
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