3m board of directors compensation

After submitting your request, you will receive an activation email to the requested email address. 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). All proxy statements are public filings made available to the general public by the SEC. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. Approximately 94% of companies denominate equity awards as a dollar value rather than as a fixed number of shares. In his spare time, he dedicates himself to being a loving husband and father and growing his family. Mr. Dillon served as a Director of the Kroger Co. from 1995 through 2014. How Much Board of Directors Members Get Paid and What They Do 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. 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. For the past eight years, Ms. 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. Formal board meetings where all the directors are present typically occur four to six times per year, depending on the company. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. In his free time, Kevin enjoys travel, outdoor activities including fishing, hiking and gardening, and spending time with his family. After submitting your request, you will receive an activation email to the requested email address. To effectively drive growth, it is important to keep the customer at the center of everything we do. Here are a couple of examples of what Fortune 500 companies pay their board members. Tel: (651) 737-6523 Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. He served as Coca-Colas Chief Executive Officer from July 2008 to April 2017. The proxy statement's main purpose is to alert shareholders to the annual meeting and provide them information about the issues that will be voted on during the annual meeting, including decisions such as electing directors, ratifying the selection of auditors, and other shareholder-related decisions, including shareholder-initiated initiatives. These descriptions are fairly generic. 3M CO income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Why Investors Should Look at the Proxy Statement, Disney Names New Chair, Eases Park Rules Amid Proxy Battle. "We are very pleased to further strengthen 3M's board with two highly accomplished, world-class leaders," said 3M chairman and CEO Mike Roman. 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. 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 . The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. 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. Non-employee directors also receive an annual cash retainer of $100,000. 3M CO Board Member Vance D. Coffman | Salary.com Once you find a good prospect, you must be nominated by the nomination committee, then approved by shareholder election. You will compete for board positions with people who have been extremely successful at a young age. He joined 3M in 1988 as a senior design engineer. She previously held executive leadership roles in global merchant sales and acquiring at Visa from 2016 to 2021. Sales Compensation Trends Revealed in New Survey. Page is on the board of the following public companies in addition to 3M: Eaton Corporation, Deere & Company. Kevin and his wife Melinda have three adult children. The board chair receives an additional $200,000; the audit committee chair receives an additional $35,000; the compensation committee chair receives an additional $30,000, and the nominating committee chair receives an additional $25,000. The information shown here is a reporting of information included in the company's proxy statement. 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. They also recommended doing away with pension and . Boards aren't entirely made up of retirees and people nearing the end of their careers. In connection with Ms. Chow and Mr. Pizarro's election, the Board of Directors increased its size from 11 to 13 members. 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 . At 3M, we promise to treat your data with respect and will not share your information with any third party. For him, that comes down to business/market analysis and team success. Mike became chairman of the board in May 2019 and chief executive officer in July 2018. Coronavirus Tips Working and Protection, For its 2021 fiscal year, 3M CO, listed the following executives on its annual proxy statement to the SEC. 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 was appointed 3Ms chief technology officer and senior vice president of research and development in July 2017. Ms. Chow 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. 3M has increased its dividend for 64 straight years. 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? 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. periodically receive reports on the status of Board compensation in relation to other large U.S. companies and is responsible for recommending to . In this role, Kevin led ongoing efforts during the COVID-19 pandemic to combat fraud, counterfeiting, and price gouging of N95 respirators. Retired Chairman of the Board and Chief Executive Officer, United Parcel Service, Inc., a provider of specialized transportation and logistics services. Head of Global Business Solutions, Fiserv, Inc. 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. Leaders serve by creating an inclusive environment which values diverse perspectives, teamwork and innovation. Chairman of the Board and Chief Executive Officer of 3M Company. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. Retired, Chief Executive Officer of AT&T Business, an organization that provided a full suite of business services across wireless, networking, cybersecurity, and advanced solutions, serving nearly 3 million business customers in more than 200 countries and territories around the world. She is currently a member of the Dallas Mavericks Advisory Council, Business and Community Advisory Council of the Federal Reserve Bank of Dallas, and the Committee of 100. President Joe Biden intends to name Karen Lynch, CEO of CVS Health, to his Export Council. 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. PDF The Board of Directors (the "Board") of 3M Company ("3M" or the ", Boston Globe. By learning about the backgrounds of existing board members, you can extrapolate what they may be looking for in new ones. Director Compensation - The Conference Board 224-1W-02 You can sign up for additional alert options at any time. "Definitive Proxy Statement, Apple 2021. Similar to last year, 63% of companies provide additional compensation to committee members. Equity grants most commonly vest immediately, or cliff-vest after one year. The offers that appear in this table are from partnerships from which Investopedia receives compensation. From 1991 to 1997 he served as Executive Director, Purchasing and Transportation at QMS Inc. From 1976 to 1991 he served in various managerial roles at Digital Equipment Corporation. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. From January 2006 through December 2006, Mr. Kent served as President of Coca-Cola International. Mike later became general manager of 3M Spain. Corporate Governance - Board of Directors - Mastercard 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. As a former Big, Mike is a long-time supporter of Big Brothers Big Sisters of America. "Anne has decades of experience in technology and business, and a proven track record of transforming global organizations and community engagement. 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. He was a senior research chemist in the Visual Systems Division before joining 3M Italy as a product development engineer. 3m Compensation Plan For Non-employee Directors endobj Lead directors are also almost always provided with additional compensation, ranging from approximately $20,000 to $35,000 at the median across all size and sector groups. Additional pay could include bonus, stock, commission, profit sharing or tips. Help make it more accurate by adding yours. FW Cook's 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. The estimated total pay for a Director at 3M is $345,577 per year. As a CTO, Ashish led the global 3M team of over 8,000 scientists and engineers. 3M has added Suzan Kereere to its board of directors. Retired Chairman of the Board and Chief Executive Officer The Kroger Co., a large retailer that operates retail food and drug stores, multi-department stores, jewelry stores, and convenience stores throughout the U.S. Mr. Dillon retired as Krogers Chairman of the Board on December 31, 2014, where he was Chairman of the Board since 2004 and was the Chief Executive Officer from 2003 through 2013. About3M To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. His growth mindset, inclusive leadership, and orientation toward developing talent and culture has helped him lead highly successful complex changes and significant transformation. The Company assumes no obligation to update or revise any forward-looking statements. %%EOF Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. 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. Not surprisingly, the most lucrative seats go to directors at S&P 500 companies. Mr. Pizarro is a vice chairman of the Edison Electric Institute, a director of the Electric Power Research Institute, a member of the Electricity Subsector Coordinating Council, and a Trustee of the California Institute of Technology. Aptiv PLC (Compensation and Human Resources, and Nominating and Governance committees) Additional Positions. Mike and his family enjoy a variety of physical fitness and outdoor activities. On Fishbowl, you can share insights and advice anonymously with 3M employees and get real answers from people on the inside. 3M CO annual reports of executive compensation and pay are most commonly found in the Def 14a documents. 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. Ferguson & Co, a former KPMG affiliate. Phone: 651-737-6501 or 800-3M-HELPS 3M Investor Relations Department Bldg. Outside of work, Karina is an experience seeker, avid traveler and food lover who enjoys dancing and yoga. She is married with two teenage children, and enjoys hiking, baking, and exploring the world with her family. Executive Vice President and Chief Financial Officer of Microsoft Corporation, a global technology company. You can sign up for additional alert options at any time. I am starting to look elsewhere but I have great WFH life now. Serving on a corporate board of directors can be a lucrative side gig or second career for high-profile executives and recent retirees. 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 . SAI KRISHNA.docx - IBM Board of Directors (PAGE 10) The report is complemented by an online dashboard, which enables users to delve into the most recent corporate disclosures by Russell 3000 companies and review individual elements of compensation packages, supplemental compensations for committee service . For nine straight years, 3M has been recognized by Ethisphere as one of the Worlds Most Ethical Companies. Erics last role was Group President of Enterprise Operations, where he led global Manufacturing and Supply Chain for 3M, driving end-to-end optimization. Mr. Brown served in various leadership capacities in global purchasing since joining Ford in 1999. Exelon Corporation. Related Searches:All Director Salaries|All 3M Salaries. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. 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. Birmingham Water Works Board files lawsuit against chemical Monish is a certified chartered accountant and a certified cost accountant from the Institute of Cost and Works Accountants of India. stream 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. At 3M, we promise to treat your data with respect and will not share your information with any third party. Unsurprisingly, the board disagrees with the USW proposal. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. <>/Metadata 125 0 R/ViewerPreferences 126 0 R>> Ms. Kereere has over 20 years of experience leading global businesses around the world, including in Europe, Australia, Asia and North America. He serves on the board of Abbott Laboratories and on the University of Minnesota Foundation Board of Trustees. Outside of work, Monish enjoys reading, music, watching cricket, playing tennis or badminton and spending time with his family. 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. Effective July 1, 2022, Jeff is also leading 3Ms Health Care Business Group on an interim basis. 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. I am extremely thankful for the company and leaders I work for at 3M, Eric says. Dr. Moyo was Chief Executive of Officer of Mildstorm LLC, a financial and economics firm, from 2015 to 2021. 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. Chicago, IL 60603. Investopedia requires writers to use primary sources to support their work. In his current position, John remains focused on driving change, challenging the status quo and helping develop the 3M leaders of tomorrow. Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? Effective April 1, 2019, Ashish was appointed to lead the newly created 3Ms Transportation and Electronics Business Group, with total revenues of approximately $10B. 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 . 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. Before joining the Edison International companies, Mr. Pizarro was a senior engagement manager with McKinsey & Company. Know Your Worth. 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. Compensation for board members can easily reach $300,000 to $500,000 a year, according to Veritas, an executive compensation consulting service. She earned a B.A. Deloitte. Leonteq publishes agenda and proposal of the Board of Directors for the 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. The estimated base pay is $176,111 per year. Amy Fontinelle has more than 15 years of experience covering personal finance, corporate finance and investing. "2020 Proxy Statement," Page 12. He returned to the Visual Systems Division before another posting in Italy as a laboratory and project manager. 3M leverages its 51 technology platforms to create differentiated solutions for customers through four business groups: Safety & Industrial, Transportation & Electronics, Health Care, and Consumer. Using 46 technology platforms, our integrated team of scientists and researchers.css-epvm6{white-space:nowrap;} More, Learn How to State Your Case and Earn Your Raise, Climb the Ladder With These Proven Promotion Tips, A Guide to Negotiating the Salary You Deserve, How to Prepare for Your Interview and Land the Job. Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. 1 0 obj Throughout her life and career, Karina has lived and worked around the world. Our household income is $240k and have $400k for down payment after selling all stocks. 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, 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. Hood joined Microsoft in 2002, and through her tenure with the company has advanced momentum in cloud and helped digitally transform the company. St. Paul, MN 55144-1000 At 3M, we promise to treat your data with respect and will not share your information with any third party. 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. She is also actively involved in charitable organizations, focused on education and on the advancement of women in business, including The Womens Forum of New York, New York University Stern School of Business, Junior Achievement of New Jersey, and is a board member for Smith College Trustees. 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. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. 0 x\s6(uj L3#inj'Flt?MR4(X,v _u]o_m-W?wpys1_#i5HJ 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.".

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