3m board of directors compensation

The average mix across the entire sample is 43% cash and 57% equity. Prior to joining 3M in 2001, Kevin was a partner at Kirkland & Ellis in Chicago. As a member of Board of Directors at 3M CO , Thomas made $320,487 in total compensation. "Few Hours, Soaring Pay for Corporate Board Members.". Sleep, Mike jokes, though he will say more seriously that he tries to focus his energies where they will do the most good. Mike and his family enjoy a variety of physical fitness and outdoor activities. PDF 3M Board of Directors Nominating and Governance Committee Charter 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. 3M News Center - Press Releases 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. 224-1W-02 St. Paul, MN 55144-1000 Tel: (651) 737-6523 investorrelations@3M.com degree from Harvard University and a Ph.D. in Economics from the University of Oxford. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. The Board is mainly comprised of outside, independent directors. 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. 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. Equity grants most commonly vest immediately, or cliff-vest after one year. 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. Mr. Brown served in various leadership capacities in global purchasing since joining Ford in 1999. He joined 3M in 1988 as a senior design engineer. 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 . Mike Vale leads 3Ms Safety & Industrial Business Group, which includes personal safety, adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules. After submitting your request, you will receive an activation email to the requested email address. What Is the Salary of the Federal Reserve Chair? The estimated base pay is $176,111 per year. 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. Board membership is less stressful and time-consuming than earlier positions board members have taken on, while still offering an impressive income. After spending almost two years with Aearo integrating it into 3M, Mike became managing director of 3M Brazil in 2009. Mr. Pizarro earned his bachelor's degree in chemistry from Harvard University and his Ph.D. in chemistry from the California Institute of Technology. She is deeply involved in the companys operations, as well as the strategy development and overall execution of the companys successful acquisitions of LinkedIn and GitHub. Board of Directors: What It Is, What Its Role Is, Incorporation: Definition, How It Works, and Advantages, Audit Committee: Definition, How They're Used, and Purpose, What Is a Proxy Statement? ", Reuters. Learn how this feature works. Mike became chairman of the board in May 2019 and chief executive officer in July 2018. He enjoys pushing himself mentally and physically in a broad range of athletics. PDF 3M Company Board of Directors Compensation Committee Charter (As Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor tax expert. In recent years, companies have also begun to seek ethnic and gender diversity on their boards. Bldg. x\s6(uj L3#inj'Flt?MR4(X,v _u]o_m-W?wpys1_#i5HJ %PDF-1.6 % 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. He previously served as chief operating officer, led 3Ms largest business group and was chief strategist. 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, Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. If youre interested in pursuing a board seat, heres what you need to know about what boards are looking for, how to get noticed, and what to expect as compensation. "Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? in Economics from Instituto Tecnolgico Autnomo de Mexico, a Masters in Economics for Development from Oxford University in the United Kingdom, and an MBA from Universit Libre de Bruxelles in Belgium. 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). She is co-principal of Versaca Investments, a family office focused on growth investing globally she co-founded in 2021. It operates through the following segments: Safety and Industrial,. St. Paul, MN 55144-1000 The estimated additional pay is $169,271 per year. Jeff Lavers is the group president of 3Ms Consumer Business Group. 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 . You can sign up for additional alert options at any time. 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. CleanLink News. 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 . However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Board members in general, by the way, participated in an average of 7.9 meetings, in person or remotely, during the year. They range from recent retirees and people nearing retirement to younger people who've experienced early successes in business. The company is strengthening environmental stewardship with a $1 billion commitment to achieve carbon neutrality, reduce water use, improve water quality and reduce its use of plastics. Its about supporting constant iteration, until a point you make yourself obsolete.. How accurate is this most likely Total Pay range (base + additional) of $270K-$455K/yr? Leaders serve by creating an inclusive environment which values diverse perspectives, teamwork and innovation. Anne Chow and Pedro Pizarro elected to 3M Board of Directors 3M - Governance - Committee Composition Executive Vice President and Chief Financial Officer of Microsoft Corporation, a global technology company. 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 . Obviously, if there is a crisis or a strategic issuefor example, an acquisitionthe number of hours for a director can dramatically increase, Rogers says. She currently serves as Lead Director on the Board of Directors for FranklinCovey and as Adjunct Professor of Executive Education at the Kellogg School of Management, Northwestern University. 3m Compensation Plan For Non-employee Directors I was offered a promotion & salary increase (66k to 96k) in Dec but then in Jan the company fired my country VP who made the offer. 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). Eric joined 3M in 1997, and held several leadership positions in the Finance organization, primarily in Health Care and Electronics. I feel blessed and give everything I have to leave 3M in a better place, every day.. Serving on a corporate board of directors can be a lucrative side gig or second career for high-profile executives and recent retirees. He earned a bachelors degree from St. Josephs College of Commerce in Bangalore, India. You may also find the annual proxy statement by going directly to the company's website. In 2018, he was inducted into the Intellectual Property Hall of Fame by the IP Hall of Fame Academy. You can sign up for additional alert options at any time. How Should Board of Directors' Compensation Be Handled? - Diligent For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. He serves on the board of Abbott Laboratories and on the University of Minnesota Foundation Board of Trustees. Incorporation is the legal process by which a business entity is formed. As a member of Board of Directors at 3M CO, Muhtar Kent made $340,917 in total compensation. Approximately 85% of companies have director ownership guidelines, while stock retention requirements are less common, present at 42% of companies. My new VP is in the company less than 6m and in the position 3m. Abbott Laboratories, Dept 364, Bldg. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Ferguson & Co, a former KPMG affiliate. Related Searches:All Director Salaries|All 3M Salaries. 224-1W-02 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. Non-employee directors also receive an annual cash retainer of $100,000. Of this total $135,000 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 . Changes were relatively stable across industries; we observe that Financial Services, Industrials, and Technology companies had no increases in median total compensation, while Energy and Retail companies had increases of 3% and 2%, respectively. He was elected to the Cargill Board of Directors in 2000 and elected Chairman of the Board in 2007. 3M CO annual reports of executive compensation and pay are most commonly found in the Def 14a documents. periodically receive reports on the status of Board compensation in relation to other large U.S. companies and is responsible for recommending to . President and CEO, Edison International, the parent company of Southern California Edison (SCE), one of the nations largest electric utilities, since 2016. 3M CO Board Member Muhtar Kent | Salary.com Dr. Moyo was Chief Executive of Officer of Mildstorm LLC, a financial and economics firm, from 2015 to 2021. 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. Mr. Kereere has over 20 years of experience in leading global . 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. 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. Averages based on self-reported salaries. 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. He returned to the Visual Systems Division before another posting in Italy as a laboratory and project manager. The estimated base pay is $176,306 per year. 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. "2020 Proxy Statement," Page 12. 3M Director Salaries | Glassdoor 3M has added Suzan Kereere to its board of directors. Suzan Kereere elected to 3M Board of Directors - Feb 9, 2022 The estimated total pay for a Director at 3M is $346,118 per year. He has held a wide range of other senior executive positions at the Edison International companies since joining in 1999. 3M leverages its 51 technology platforms to create differentiated solutions for customers through four business groups: Safety & Industrial, Transportation & Electronics, Health Care, and Consumer. In connection with Ms. Chow and Mr. Pizarro's election, the Board of Directors increased its size from 11 to 13 members. 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. If you experience any issues with this process, please contact us for further assistance. That's actually a 5% increase from the year before . 224-1W-02 Retired Group Vice President, Global Purchasing, Ford Motor Company, Retired Chief Executive Officer, AT&T Business, Retired Chief Financial Officer, Accenture. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. From 1997 to 1999 he served in leadership positions at United Technologies Corporation, including its Vice President, Supply Management. 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. 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. Could you fill that gap? 10 S. Dearborn St., 54th Floor. View SAI KRISHNA.docx from STAT 5561 at University of Missouri, Kansas City. Three years later, he was tapped to lead 3M's corporate research lab. Really nervous. endobj Average compensation in 2018 at those firms was $304,856, according to Reuters. In his free time, Kevin enjoys travel, outdoor activities including fishing, hiking and gardening, and spending time with his family. In 2016, John moved to West Europe to serve as managing director of 3M's D-A-CH region, which represents the company's combined operations in . About3M The information on this website, including any documents posted herein, contains a significant amount of information about 3M. For online networking, Mark Rogers, CEO of BoardProspects.com, recommends his site, a board-recruitment network akin to LinkedIn. Outside of work, Monish enjoys reading, music, watching cricket, playing tennis or badminton and spending time with his family. From 1991 to 1997 he served as Executive Director, Purchasing and Transportation at QMS Inc. From 1976 to 1991 he served in various managerial roles at Digital Equipment Corporation. Board of Directors | Medtronic [Br*L7r/Nv&rrzDGx0V:o,eIY^'(O >vXT cct"o3jvYEfp.w$}0BirMZIHI6M)9z?eOtp'pON{~YN>=mCs:a'heTb\G. <> The estimated total pay for a Director at 3M is $345,577 per year. 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. 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. At 3M, we promise to treat your data with respect and will not share your information with any third party. 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. These include white papers, government data, original reporting, and interviews with industry experts. Head of Global Business Solutions, Fiserv, Inc., a leading fintech and payments company. The 3M board of directors is mostly composed of former CEOs. That's a 43% increase over 10 years. Leadership is facilitating and embracing evolution, and accompanying the paths for change, Karina says. Help make it more accurate by adding yours. The offers that appear in this table are from partnerships from which Investopedia receives compensation. 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. She earned her degree in manufacturing engineering from Brunel University London, and diploma in personnel management from Thames Valley University. Ms. Chow is on the board of the following public company in addition to 3M: FranklinCovey. Effective April 1, 2019, Ashish was appointed to lead the newly created 3Ms Transportation and Electronics Business Group, with total revenues of approximately $10B. The information shown here is a reporting of information included in the company's proxy statement. That year's top payer was Goldman Sachs Group Inc., which paid its directors an average of $599,279. He previously led the construction and home improvement business, and the companys corporate marketing and sales organization. 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. Mike later became general manager of 3M Spain. Unsurprisingly, the board disagrees with the USW proposal. 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. The median compensation for members of private company boards of directors was $44,850 in 2021, according to a global study by Lodestone Global. Dr. Moyo earned a bachelors degree in chemistry and MBA degree in Business Administration from American University, an M.P.A. Pedro Pizarro has been President and CEO of Edison International, the parent company of Southern California Edison (SCE), one of the nation's largest electric utilities, since 2016. She has been married more than 20 years, with two teenage kids. IBM Board of Directors (PAGE 10) Director Nominees IBM's Board is composed of a diverse, experienced group of global 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. I have been an Office Manager 21 yrs. 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. From January 2006 through December 2006, Mr. Kent served as President of Coca-Cola International. In this role, Kevin led ongoing efforts during the COVID-19 pandemic to combat fraud, counterfeiting, and price gouging of N95 respirators. 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. Coronavirus Tips Working and Protection, For its 2021 fiscal year, 3M CO, listed the following executives on its annual proxy statement to the SEC. Lodestone Global. 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. Zoe joined 3M in 1998, and has held roles of increasing responsibility in human resources across the companys businesses and geographic areas. Ive been fortunate enough to see this company from many, many anglesand 3M is impressive no matter where you are in the world.. As a member of Board of Directors at 3M CO , Vance D. Coffman made $107,459 in total compensation. He is a member of the Marketing Leadership Council and serves on several non-profit and community boards. Rogers adds, Board members are the representatives of the shareholders, and it is their fiduciary duty to oversee the affairs of the corporation, including overall performance and fiscal strength, and to serve as a consultant for managementparticularly with respect to the strategic and operational directives of the company.. Prior to 3M, she served as a business leader and consultant for various companies in Mexico and Europe. Most recently he served as CFO of GE Healthcare. To effectively drive growth, it is important to keep the customer at the center of everything we do. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. The companys financial objectives include continuing to grow above the markets it serves, expand margins and generate strong cash flow. At 3M, we promise to treat your data with respect and will not share your information with any third party. Chairman and Chief Executive Officer of Dow, Inc., a leading global materials science company. Exelon Corporation. 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. Definition, What's In It, and Voting, Non-Executive Director Role and Responsibilities Defined, Fiduciary Definition: Examples and Why They Are Important, Private Company Board Compensation Survey. This post is based on their FW Cook memorandum. Mr. Roman also has held numerous leadership positions in Asia Pacific and Europe, across multiple businesses. 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. ", Veritas. Monish is a certified chartered accountant and a certified cost accountant from the Institute of Cost and Works Accountants of India. For nine straight years, 3M has been recognized by Ethisphere as one of the Worlds Most Ethical Companies.

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