3m board of directors compensation

Retired Chairman of the Board and Chief Executive Officer, The Coca-Cola Company, the worlds largest beverage company. Non-employee directors also receive an annual cash retainer of $100,000. The Company assumes no obligation to update or revise any forward-looking statements. As a CTO, Ashish led the global 3M team of over 8,000 scientists and engineers. 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). Chairman of the Board and Chief Executive Officer of 3M Company. Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. U.S. company directors compensated more than ever, but now risk backlash, Few Hours, Soaring Pay for Corporate Board Members. 3M provides a match up to a certain percent, 3M is a global science company that never stops inventing. 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. Mr. The report recommended that companies start compensating board directors with cash and equity. 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. If you experience any issues with this process, please contact us for further assistance. 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. Unsurprisingly, the board disagrees with the USW proposal. Effective April 1, 2019, Ashish was appointed to lead the newly created 3Ms Transportation and Electronics Business Group, with total revenues of approximately $10B. Walmart. 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. Explore our Directors and their backgrounds. He previously had led 3Ms Digital Transformation, one of the companys three value creation levers. 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. Bldg. So what does he do when hes not in the office? In connection with Ms. Kereere's election, the Board of Directors . Director Compensation Practices offers a comprehensive set of benchmarking data and analysis needed to inform the board pay design process. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. Ashish has a strong technical background and has authored 10 patents. Mr. Roman served as Chief Executive Officer of 3M Company from July 2018 to May 2019. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Jeff Lavers is the group president of 3Ms Consumer Business Group. St. Paul, MN 55144-1000 As executive vice president and chief human resources officer, Zoe Dickson leads 3Ms transformative agenda for people and culture. Mr. Dillon served as a Director of the Kroger Co. from 1995 through 2014. 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 . 3M Company Board of Directors Compensation Committee Charter (As Amended February 10, 2003) A. Lead, Columbia University's SIPA Tech & Policy Initiative; . 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. A proxy statement is a document the SEC requires companies to provide shareholders that includes information needed to make decisions at shareholder meetings. Chicago, IL 60603. 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. About3M 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. Monish is a certified chartered accountant and a certified cost accountant from the Institute of Cost and Works Accountants of India. 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. The Board is mainly comprised of outside, independent directors. 0 Retired Chairman of the Board and Chief Executive Officer, United Parcel Service, Inc. Executive Vice President and Chief Financial Officer, Microsoft Corporation, Retired Chairman of the Board and Chief Executive Officer, The Coca-Cola Company. Averages based on self-reported salaries. Director compensation structure remains consistent with prior years, with an average mix of 57% equity and 43% cash across the entire sample. This employer has claimed their Employer Profile and is engaged in the Glassdoor community. Leaders serve by creating an inclusive environment which values diverse perspectives, teamwork and innovation. "Private Company Board Compensation Survey. The Company assumes no obligation to update or revise any forward-looking statements. 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. Equity grants most commonly vest immediately, or cliff-vest after one year. 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. In 2003 he joined McKinsey & Company, and in 2007 rejoined 3M and assumed responsibility for the overall planning and implementation of corporate strategic initiatives. 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. 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. 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 . Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. 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. Its that excitement, mixed with his incredible passion and leadership, that has led to some of 3Ms biggest equitable actions in the past year. Dr. Moyo earned a bachelors degree in chemistry and MBA degree in Business Administration from American University, an M.P.A. 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. Erics last role was Group President of Enterprise Operations, where he led global Manufacturing and Supply Chain for 3M, driving end-to-end optimization. Higher-paying sectors tend to place a greater weighting on equity; Energy and Technology companies have the most equity-heavy mix while Financial Services organizations have the least. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. It goes a lot higher from there. You'll want to pursue networking both online and offline. Tel: (651) 737-6523 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. Ms. Kereere has over 20 years of experience leading global businesses around the world, including in Europe, Australia, Asia and North America. In 2017 she was named global business director for 3Ms home improvement business, until 2020 when she became senior vice president for customer operations. He retired from Ford on August 1, 2013. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. Approximately 85% of companies have director ownership guidelines, while stock retention requirements are less common, present at 42% of companies. Dr. Ashish Khandpur is group president of 3Ms Transportation and Electronics Business Group. He led 3Ms International Finance organization, and also served four years as 3Ms Senior Vice President of FP&A and Chief Accounting Officer. 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 income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Dr. Moyo served as Global Economist & Capital Markets at Goldman Sachs from 2001 to 2008. "3M is a globally diverse company in so many dimensions," Ashish says. Ms. Kereere is also a longtime champion for equity and inclusion in business and society. Another example would be compensation meetings to discuss compensation plans and awards.. It operates through the following segments: Safety and Industrial,. 3M Company Board of Directors Compensation Committee Charter (As Affirmed February 5, 2019) A. 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. 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. He then led Research & Development for the formerly Industrial Business Group initially in Asia Pacific and later globally. He enjoys pushing himself mentally and physically in a broad range of athletics. Ownership guidelines are typically enforced via a years-to-achieve rule (66% prevalence), a retention/holding requirement (11% prevalence), or a combination of the two (23% prevalence). "2020 Proxy Statement," Page 12. The following chart summarizes total non-employee director pay levels and market capitalizations of the 300 companies in our study (100 companies in each size grouping): The complete publication is available here. Investopedia does not include all offers available in the marketplace. degree from Harvard University and a Ph.D. in Economics from the University of Oxford. Investopedia requires writers to use primary sources to support their work. CleanLink News. 224-1W-02 St. Paul, MN 55144-1000 Tel: (651) 737-6523 investorrelations@3M.com In this role, he leverages his many years of experience as both a technology and business leader. It begins with actively listening and then relentlessly working to deliver outcomes to solve customer problems, says Monish. Various senior positions at Ita Unibanco Group , including CEO (January 2017 . endstream endobj 103 0 obj <. 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. <>/Metadata 125 0 R/ViewerPreferences 126 0 R>> 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. For its 2021 fiscal year, 3M CO, listed the following board members on its annual proxy statement to the SEC. 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). Boards aren't entirely made up of retirees and people nearing the end of their careers. A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. St. Paul, MN 55144-1000 Get a free, personalized salary estimate based on today's job market. 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. 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. 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. Aptiv PLC (Compensation and Human Resources, and Nominating and Governance committees) Additional Positions. The most common director ownership guideline is 5x the annual cash retainer with a 5-year timeframe to meet the guideline. The brands listed above are trademarks of 3M. "I believe that building confidence and removing the fear of failure are key components of leadership," says Peter. <> 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. Mr. Pizarro earned his bachelor's degree in chemistry from Harvard University and his Ph.D. in chemistry from the California Institute of Technology. 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. She 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. 2 0 obj 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 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. She 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. 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. 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. He was most recently head of 3Ms Health Care Business Group, and prior to that led the companys Consumer Business Group. Michael Ferrante and Connor Damon are consultants at FW Cook. In 2008, he returned to the U.S. to become vice president and general manager of Aearo Technologies LLC, which 3M acquired that year. 224-1W-02 The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Throughout Mikes career, he has lived and led businesses around the world, including the United States, Europe and Asia. Related Searches:All Director Salaries|All 3M Salaries. Three years later, he was tapped to lead 3M's corporate research lab. Throughout his 20-year 3M career, Kevin has led legal teams in areas of increasing responsibility. He was a senior research chemist in the Visual Systems Division before joining 3M Italy as a product development engineer. Mr. Pizarro served as president of SCE from 2014 to 2016. Mike and his family enjoy a variety of physical fitness and outdoor activities. 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. Phone: 651-737-6501 or 800-3M-HELPS 3M Investor Relations Department Bldg. 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 . He joined 3M in 1988 as a senior design engineer. 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. 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. She currently serves as Adjunct Professor of Executive Education at the Kellogg School of Management, Northwestern University, and 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.

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