3m board of directors compensation

3M has added Suzan Kereere to its board of directors. 224-1W-02 St. Paul, MN 55144-1000 Tel: (651) 737-6523 investorrelations@3M.com Retired Group Vice President, Global Purchasing, Ford Motor Company, Retired Chief Executive Officer, AT&T Business, Retired Chief Financial Officer, Accenture. Learn how we're working to improve lives and make what's next at 3M.com/newsor on Twitter at@3Mor@3MNews. As a member of Board of Directors at 3M CO , Thomas made $320,487 in total compensation. At 3M, we promise to treat your data with respect and will not share your information with any third party. VUL^07d=xy2 *'..j(( Hs00 He was assigned to lead 3Ms $5.5B Electronics & Energy Business Group in July 2017. 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. 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. 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. Deloitte. By learning about the backgrounds of existing board members, you can extrapolate what the company is probably looking for in new ones. Tel: (651) 737-6523 Director Compensation Practices offers a comprehensive set of benchmarking data and analysis needed to inform the board pay design process. Mr. Dillon is on the board of the following public company in addition to 3M: Union Pacific Corporation. Dr. Moyo was Chief Executive of Officer of Mildstorm LLC, a financial and economics firm, from 2015 to 2021. "People achieve great things when they are embraced and valued; when they are connected, not isolated; and when their intelligence and imagination are unleashed". 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. "Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? A proxy statement is a document the SEC requires companies to provide shareholders that includes information needed to make decisions at shareholder meetings. 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. Zoe is a chartered member of Chartered Institute of Personnel & Development. 10 S. Dearborn St., 54th Floor. The estimated total pay for a Director at 3M is $345,577 per year. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Similar to last year, 63% of companies provide additional compensation to committee members. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Ms. Craig served as Accenture's CFO from 2006 through 2013, following her many other leadership roles in line management, consulting and operations at Accenture during her 34 years with the company. "Private Company Board Compensation Survey. 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? Anne Chow and Pedro Pizarro elected to 3M Board of Directors, Caution Concerning Forward-Looking Statements, https://www.prnewswire.com/news-releases/anne-chow-and-pedro-pizarro-elected-to-3m-board-of-directors-301741429.html, SDS, RDS, More Regulatory & Compliance Information. 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. You will compete for board positions with people who have been extremely successful at a young age. He serves on the boards of Special Olympics International, Cambridge China Development Trust, Council on Foreign Relations, and Emory University. Eric serves on the boards of the U.S. Chamber of Commerce, St. Paul & Minnesota Foundation, and National Association of Manufacturing. This is a defining time for all companies and 3M is no different in that respect, Scott said. Various senior positions at Ita Unibanco Group , including CEO (January 2017 . I am extremely thankful for the company and leaders I work for at 3M, Eric says. After spending almost two years with Aearo integrating it into 3M, Mike became managing director of 3M Brazil in 2009. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. Non-employee directors also receive an annual cash retainer of $100,000. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. Mark holds a bachelors degree in electrical engineering from Purdue University, and an M.B.A. from Indiana University. Ashish is a trained Chemical Engineer, with a bachelors degree from Indian Institute of Technology, Delhi, and a Ph.D. from the University of Minnesota. This post is based on their FW Cook memorandum. 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. Eric joined 3M in 1997, and held several leadership positions in the Finance organization, primarily in Health Care and Electronics. Mr. Dillon served as President from 1995 to 2003 and was elected Executive Vice President in 1990. 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. Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor tax expert. The estimated additional pay is $170,007 per year. 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. She is co-principal of Versaca Investments, a family office focused on growth investing globally she co-founded in 2021. 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. Investopedia does not include all offers available in the marketplace. Could you fill that gap? 3M has increased its dividend for 64 straight years. 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). In early 2014, Ashish began leading one of 3Ms biggest businesses the Personal Safety Division and later that same year he was named the chief technology officer (CTO) and senior vice president of research and development of 3M. Prior to 3M, Peter served as chief executive officer of TireHub, a joint venture last mile distributor between Bridgestone and Goodyear. Ms. Why Investors Should Look at the Proxy Statement, Disney Names New Chair, Eases Park Rules Amid Proxy Battle. 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). Sleep, Mike jokes, though he will say more seriously that he tries to focus his energies where they will do the most good. 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. That year's top payer was Goldman Sachs Group Inc., which paid its directors an average of $599,279. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. You can sign up for additional alert options at any time. 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. 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. 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. Kereere currently serves as head of global business solutions for Fiserv Inc. She has more than 20 years of international business leadership experience, previously working in executive leadership positions with such companies as Visa and American Express before joining Fiserv. Mr. Pizarro is a member of Edison International's Board of Directors. 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. 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. Page served as Executive Director of Cargill from 2015 to 2016, Executive Chairman from 2013 to 2015, Chief Executive Officer from 2007 to 2013, and President from 2000 to 2007. 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 $32 billion science-based company. She served as the CEO of AT&T Business from 2019 to 2022 after having served in various executive leadership positions at AT&T since 2000. Leaders serve by creating an inclusive environment which values diverse perspectives, teamwork and innovation. 3M Investor Relations Department He previously worked at St. Jude Medical for more than 15 years, holding multiple technology roles of increasing responsibility. His growth mindset, inclusive leadership, and orientation toward developing talent and culture has helped him lead highly successful complex changes and significant transformation. She has lived and worked around the world for 3M, including in Asia Pacific, Europe and the United States. hbbd``b`$fH0@= , VDtbc a`$2012| Lead, Columbia University's SIPA Tech & Policy Initiative; . ", Reuters. 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 . Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. To effectively drive growth, it is important to keep the customer at the center of everything we do. Retired Group Vice President, Global Purchasing, Ford Motor Company, a global automotive industry leader. He has held a wide range of other senior executive positions at the Edison International companies since joining in 1999. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. 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. His team supports the success of the 3M Operating Model, ensuring strong customer and employee engagement globally, protecting the reputation of 3M, providing world global services, while driving the companys workplace transformation strategy. <> Complement your online networking with face-to-face connections at events, conferences, and social gatherings, he says. 224-1W-02 Related Searches:All Director Salaries|All 3M Salaries. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. A board of directors (B of D) is the governing body of a company, elected by shareholders to set strategy and oversee management. 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. Mr. Brown is on the board of the following public company in addition to 3M: Tower International, Inc. It goes a lot higher from there. He served in that role until 2012, when he became global business director for 3M's Industrial Adhesives and Tapes Division. 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. 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. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. These include white papers, government data, original reporting, and interviews with industry experts. 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.. 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 . Bldg. 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. In connection with Ms. Kereere's election, the Board of Directors . He previously served as chief operating officer, led 3Ms largest business group and was chief strategist. 224-1W-02 Bldg. Leadership is facilitating and embracing evolution, and accompanying the paths for change, Karina says. The brands listed above are trademarks of 3M. 3Ms culture brings together passionate people with purpose and strategy to solve some of the worlds toughest challenges.. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Jeff has lived and worked internationally for 3M, and always with a great passion on exceeding customer expectations. Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. 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. Unsurprisingly, the board disagrees with the USW proposal. If you experience any issues with this process, please contact us for further assistance. Board members in general, by the way, participated in an average of 7.9 meetings, in person or remotely, during the year. During his leadership, this business was transformed through a thorough portfolio prioritization and diversification in fast growth segments, becoming a strong contributor to the company results. John came to 3M in 1995 as a research chemist in the corporate R&D organization, working primarily on acrylic adhesives and tapes. The Company assumes no obligation to update or revise any forward-looking statements. In this role, he leverages his many years of experience as both a technology and business leader. 3 0 obj 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. As vice president of operational transformation, he led the companys transformation initiatives driving operating rigor and lean management across the company. Creating an atmosphere that allows people to perform at their best, collaborate broadly and enrich their own perspective makes for powerful outcomes.. Jeff earned his bachelor of business administration degree in marketing and finance from the Robert O. Anderson School of Management at the University of New Mexico, Albuquerque. Mike holds a masters degree in Electrical Engineering from the University of Southern California, and a bachelors degree from the University of Minnesota. 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. Throughout his 20-year 3M career, Kevin has led legal teams in areas of increasing responsibility. 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. 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 . The Board of Directors (the "Board") of 3M Company ("3M" or the "Company") has adopted these guidelines, which in conjunction with the Certificate of Incorporation, Bylaws, and Board . Dr. Moyo is on the board of the following organizations in addition to 3M: Chevron Corporation and Conde Nast. 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). 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. 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, 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. . 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. Retired Chairman and Chief Executive Officer of Cargill. Leadership is about connecting with and inspiring others to achieve their best, Mark says. 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. A non-executive director is a member of a company's board of directors who is not part of the executive team. He joined 3M in 1987 as a health care sales representative. For him, that comes down to business/market analysis and team success. 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. The estimated base pay is $176,306 per year. Mr. Pizarro served as president of SCE from 2014 to 2016. He has held a wide range of other senior executive positions at the Edison International companies since joining in 1999. I am starting to look elsewhere but I have great WFH life now. CleanLink News. Help make it more accurate by adding yours. 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. What Is the Salary of the Federal Reserve Chair? You must click the activation link in order to complete your subscription. degree from Harvard University and a Ph.D. in Economics from the University of Oxford. Corporate boards are made up of highly successful executive outsiders. The companys 96,000 employees are united by a common purpose: unlocking the value of people, science, and ideas to re-imagine what is possible. 3M Company Board of Directors Compensation Committee Charter (As Amended February 10, 2003) A. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. You'll want to pursue networking both online and offline. They will provide invaluable insight and perspective to our board as we continue to position 3M for the future.". 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. 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. The Board is mainly comprised of outside, independent directors. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> x\s6(uj L3#inj'Flt?MR4(X,v _u]o_m-W?wpys1_#i5HJ 3M CO income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Outside of work he enjoys reading, following college sports and spending time with his family. He retired as Chairman of the Board and Chief Executive Officer at the end of 2007 but remained as a director of UPS until December 31, 2014. The estimated total pay for a Director at 3M is $346,118 per year. 2 0 obj 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. 3M Investor Relations Department Coronavirus Tips Working and Protection, For its 2021 fiscal year, 3M CO, listed the following executives on its annual proxy statement to the SEC. On Fishbowl, you can share insights and advice anonymously with 3M employees and get real answers from people on the inside. View SAI KRISHNA.docx from STAT 5561 at University of Missouri, Kansas City. 123 0 obj <>stream from Grinnell College. As a former Big, Mike is a long-time supporter of Big Brothers Big Sisters of America. Amy Fontinelle has more than 15 years of experience covering personal finance, corporate finance and investing. 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. As a CTO, Ashish led the global 3M team of over 8,000 scientists and engineers. Ms. Chow is on the board of the following public company in addition to 3M: FranklinCovey. 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. Over the years, his career with 3M has sent him abroad four times for varied roles, including research chemist, manufacturing director and general manager. Outside of work, Karina is an experience seeker, avid traveler and food lover who enjoys dancing and yoga. Throughout his career he has led large technology transformations including SAP implementations, digital initiatives and cybersecurity. Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. 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 (subject to ratification by the independent directors of the Board) the compensation for Download required. Kevin Rhodes is Executive Vice President and Chief Legal Affairs Officer, overseeing legal, compliance, government affairs and global security matters for 3M. The Company assumes no obligation to update or revise any forward-looking statements. oYgd=??/_C|72KFSI. 3M leverages its 51 technology platforms to create differentiated solutions for customers through four business groups: Safety & Industrial, Transportation & Electronics, Health Care, and Consumer. Tel: (651) 737-6523 There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. Head of Global Business Solutions, Fiserv, Inc., a leading fintech and payments company. The median compensation for members of private company boards of directors was $44,850 in 2021, according to a global study by Lodestone Global. Its members include current board members, aspiring board members, and corporations looking to hire board members. 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. As a member of Board of Directors at 3M CO , Vance D. Coffman made $107,459 in total compensation. Monish is a certified chartered accountant and a certified cost accountant from the Institute of Cost and Works Accountants of India. 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. Its about supporting constant iteration, until a point you make yourself obsolete.. The Energy sector provides the highest median cash retainer for board service ($86,250) and Technology the lowest ($60,000). Investopedia requires writers to use primary sources to support their work. She joined 3M in 2008 as a marketing and public affairs manager for 3M Mexico, and has held roles of increasing responsibility in the United States, Asia and Latin America. 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. Ms. Kereere is also a longtime champion for equity and inclusion in business and society. The information shown here is a reporting of information included in the company's proxy statement. That's actually a 5% increase from the year before. 3M (NYSE: MMM) believes science helps create a brighter world for everyone. 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. %%EOF Of this total $155,000 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 was awarded as stock and $917 came from other . investorrelations@3M.com.

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3m board of directors compensation

3m board of directors compensation