3M has added Suzan Kereere to its board of directors. St. Paul, MN 55144-1000 For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. Leadership is about serving more than yourself, he says. 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%). By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. He retired from Ford on August 1, 2013. 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. 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. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. 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. Monish is a certified chartered accountant and a certified cost accountant from the Institute of Cost and Works Accountants of India. This compensation may impact how and where listings appear. Thorough reviews have been conducted to assure this data accurately reflects disclosures. He earned a bachelors degree from St. Josephs College of Commerce in Bangalore, India. 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. For nine straight years, 3M has been recognized by Ethisphere as one of the Worlds Most Ethical Companies. 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. You must click the activation link in order to complete your subscription. 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). Ms. Craig is on the boards of the following public companies in addition to 3M: Corning, Inc.; Merck & Company; Progressive (Insurance) Corporation. The Board is mainly comprised of outside, independent directors. For online networking, Mark Rogers, CEO of BoardProspects.com, recommends his site, a board-recruitment network akin to LinkedIn. So what does he do when hes not in the office? He serves on the board of Abbott Laboratories and on the University of Minnesota Foundation Board of Trustees. 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. Dr. Moyo is a global economist and author who analyzes the macroeconomy and international affairs. 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. ", Veritas. 2 0 obj There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. 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. . 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. Abbott Laboratories, Dept 364, Bldg. 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. 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. In 1996, the National Association of Corporate Directors (NACD) issued the Blue Ribbon Commission Report on Director Professionalism, which had a great influence on board member compensation practices. Before joining the Edison International companies, Mr. Pizarro was a senior engagement manager with McKinsey & Company. Various senior positions at Ita Unibanco Group , including CEO (January 2017 . stream [Br*L7r/Nv&rrzDGx0V:o,eIY^'(O >vXT cct"o3jvYEfp.w$}0BirMZIHI6M)9z?eOtp'pON{~YN>=mCs:a'heTb\G. Effective April 1, 2019, Ashish was appointed to lead the newly created 3Ms Transportation and Electronics Business Group, with total revenues of approximately $10B. He has held a wide range of other senior executive positions at the Edison International companies since joining in 1999. Exelon Corporation. I wanted to make sure that the company was really serious about doing this work and that this was something I could see myself getting behind to make a difference because I have a bias for action. Mike became chairman of the board in May 2019 and chief executive officer in July 2018. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. A director elected to the Board after the beginning of a Plan Year may elect, by written notice to 3M within 30 days after such director's term begins, to participate in the Compensation alternatives for the remainder of that Plan Year, and election for succeeding years shall be on the same basis as for other directors. 3M leverages its 51 technology platforms to create differentiated solutions for customers through four business groups: Safety & Industrial, Transportation & Electronics, Health Care, and Consumer. I believe great leaders are great listeners who carry themselves with humility, authenticity, accessibility, transparency and integrity.. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. 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. 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. Possessing a wealth of experience in manufacturing and supply chain operations, Peter previously held senior-level executive positions at Mattel, Starbucks and ICI Paints North America. 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. 3M provides a match up to a certain percent, 3M is a global science company that never stops inventing. Kevin is a champion for diversity and inclusion in the legal profession, growing talent and serving communities. He served in that role until 2012, when he became global business director for 3Ms Industrial Adhesives and Tapes Division. Incorporation is the legal process by which a business entity is formed. "We are very pleased to further strengthen 3M's board with two highly accomplished, world-class leaders," said 3M chairman and CEO Mike Roman. @,s30_j0 \ You must click the activation link in order to complete your subscription. Throughout Mikes career, he has lived and led businesses around the world, including the United States, Europe and Asia. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. In this role, he leverages his many years of experience as both a technology and business leader. Bldg. ", Boston Globe. Dr. Moyo was Chief Executive of Officer of Mildstorm LLC, a financial and economics firm, from 2015 to 2021. Investopedia requires writers to use primary sources to support their work. From 1997 to 1999 he served in leadership positions at United Technologies Corporation, including its Vice President, Supply Management. Ms. Kereere is also a longtime champion for equity and inclusion in business and society. My new VP is in the company less than 6m and in the position 3m. 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. Equity grants most commonly vest immediately, or cliff-vest after one year. Corporate boards are made up of highly successful executive outsiders. He previously led the companys litigation function, and served for more than ten years as chief intellectual property counsel, with responsibility for managing the global intellectual property assets of 3M and its worldwide affiliates. In connection with Ms. Chow and Mr. Pizarro's election, the Board of Directors increased its size from 11 to 13 members. The median compensation for members of private company boards of directors was $44,850 in 2021, according to a global study by Lodestone Global. I am extremely thankful for the company and leaders I work for at 3M, Eric says. The median decrease in director compensation was 50% at S&P 500 companies and 40% at Russell 3000 companies. Can we afford $1.3M home? The brands listed above are trademarks of 3M. 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 most recently was Senior Vice President and Deputy General Counsel, advising senior management and the Board of Directors on legal issues. 224-1W-02 Hornbaker says attending committee meetings might be another responsibility. Know Your Worth. 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.". 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. Leadership is about connecting with and inspiring others to achieve their best, Mark says. Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. 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. The information shown here is a reporting of information included in the company's proxy statement. 3M Investor Relations Department 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. 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. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. "U.S. company directors compensated more than ever, but now risk backlash.". 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. These include white papers, government data, original reporting, and interviews with industry experts. 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. I took some time to think about it because the emotions of the time were raw and real, Garfield said. How accurate is this most likely Total Pay range (base + additional) of $270K-$455K/yr? degree from Harvard University and a Ph.D. in Economics from the University of Oxford. Retired Group Vice President, Global Purchasing, Ford Motor Company, Retired Chief Executive Officer, AT&T Business, Retired Chief Financial Officer, Accenture. 3M Investor Relations Department Prior to 3M, she served as a business leader and consultant for various companies in Mexico and Europe. Ferguson & Co, a former KPMG affiliate. The average mix across the entire sample is 43% cash and 57% equity. Mr. Pizarro served as president of SCE from 2014 to 2016. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. The brands listed above are trademarks of 3M. 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 . 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. 3M CO income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. %PDF-1.7 The Boston Globe reports that the average time commitment to serve on a board is fewer than five hours per week. 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 A. 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. 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. 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. %%EOF Creating an atmosphere that allows people to perform at their best, collaborate broadly and enrich their own perspective makes for powerful outcomes.. News & Views 2/17/2022 3M Adds To Board Of Directors. Ms. Lynch has helmed CVS Health since February 2021 and leads more than 300,000 employees, according to a . 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 . Ashish has been with the company for more than 26 years. It operates through the following segments: Safety and Industrial,. 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. That's a 43% increase over 10 years. 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. 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. 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 . 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. Throughout his career he has led large technology transformations including SAP implementations, digital initiatives and cybersecurity. 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. Dow's Board of Directors exemplifies good governance with solid, diverse experience and credentials. That's actually a 5% increase from the year before. In recent years, companies have also begun to seek ethnic and gender diversity on their boards. 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. Unsurprisingly, the board disagrees with the USW proposal. Ms. The Company assumes no obligation to update or revise any forward-looking statements. To effectively drive growth, it is important to keep the customer at the center of everything we do. Working globally, and having led in United States, West Europe, and Asia Pacific, he has always focused on maximizing value for customers, employees, and shareholders. Make sure your resume states what you will specifically bring to the table as a board member.. Executive Vice President and Chief Financial Officer of Microsoft Corporation, a global technology company. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. oYgd=??/_C|72KFSI. The 3M board of directors is mostly composed of former CEOs. The Energy sector provides the highest median cash retainer for board service ($86,250) and Technology the lowest ($60,000). Serving on a corporate board of directors can be a lucrative side gig or second career for high-profile executives and recent retirees. To find out what any publicly held company pays its board members, read the companys annual proxystatement, available from its corporate website or the Securities and Exchange Commission website. Ms. In November 2021, Karina assumed her current role as senior vice president and chief strategy officer. The Company assumes no obligation to update or revise any forward-looking statements. hb```e``3,00```T~s@@(` Three years later, he was tapped to lead 3M's corporate research lab. Tel: (651) 737-6523 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. It goes a lot higher from there. He was elected to the Cargill Board of Directors in 2000 and elected Chairman of the Board in 2007. As a former Big, Mike is a long-time supporter of Big Brothers Big Sisters of America. Retired Group Vice President, Global Purchasing, Ford Motor Company, a global automotive industry leader. Ms. Chow earned her bachelor's and master's degrees in electrical engineering, and a master's degree in business administration, from Cornell University. Prior to her current role, she served as senior vice president of Talent, Learning and Insights. Investopedia does not include all offers available in the marketplace. 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. 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. 224-1W-02 St. Paul, MN 55144-1000 Tel: (651) 737-6523 investorrelations@3M.com I have been trying to get a review ever since and no one will say what is going on. 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. 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? Obviously, if there is a crisis or a strategic issuefor example, an acquisitionthe number of hours for a director can dramatically increase, Rogers says. The Company assumes no obligation to update or revise any forward-looking statements. 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. In his spare time, he dedicates himself to being a loving husband and father and growing his family. 3M is not only a world leader in innovation but was built on a foundation of strong ethics, customer centricity, a global mindset and a deep and diverse team, says Monish. He began his professional career as a senior research engineer in 3M laboratories in St. Paul. This would be in addition to the peer group benchmarks (what other CEOs make) that the company uses to determine CEO compensation. Posted by Michael Ferrante and Connor Damon, FW Cook, on, Harvard Law School Forum on Corporate Governance, Prevalence of annual limits on director compensation remains high, with equity-only limits continuing to be the most common approach, though use of total compensation limits. He serves on the boards of Special Olympics International, Cambridge China Development Trust, Council on Foreign Relations, and Emory University. 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. I feel blessed and give everything I have to leave 3M in a better place, every day.. 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. CleanLink News. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. As a CTO, Ashish led the global 3M team of over 8,000 scientists and engineers. 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. 123 0 obj <>stream Help make it more accurate by adding yours. It claims that including the USW proposal would involve "significant time, cost and resource . Eric Hammes is 3Ms executive vice president, chief country governance and services officer. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. View SAI KRISHNA.docx from STAT 5561 at University of Missouri, Kansas City. About3M 1 0 obj In 2011, he became executive vice president of the Consumer Business Group, and in 2016 was appointed executive vice president of the Health Care Business Group. 3M (NYSE: MMM) believes science helps create a brighter world for everyone. 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. A non-executive director is a member of a company's board of directors who is not part of the executive team. Walmart. 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. Outside of work he enjoys reading, following college sports and spending time with his family. In his free time, he enjoys spending time with his wife and three kids, as well as a variety of outdoor activities including hiking, biking and fishing. Non-employee directors also get every new Apple product for free on request and can purchase more at a discount. Mike and his family enjoy a variety of physical fitness and outdoor activities.