3m board of directors 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. He was assigned to lead 3Ms $5.5B Electronics & Energy Business Group in July 2017. Its that excitement, mixed with his incredible passion and leadership, that has led to some of 3Ms biggest equitable actions in the past year. We continue to observe an increasing number of women on Boards: 94% of companies in the study have at least one woman on the Board (90% last year), 59% of large-cap companies have three or more women on the Board (50% last year) and 25% of both mid-cap and small-cap companies have three or more female members (22% and 13% last year, respectively). Board members in general, by the way, participated in an average of 7.9 meetings, in person or remotely, during the year. Every day her team is focused on attracting, supporting, and developing talent, and ensuring 3M is a place where everyone belongs, learns, innovates and thrives. 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. This is an opportunity for us to shape what were going to be for the next 100 years., We need to act with purpose: One 3Mer's passion is shaping 3M's approach to addressing equity in STEM, Averages based on self-reported salaries. <> The offers that appear in this table are from partnerships from which Investopedia receives compensation. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. Mr. Roman is on the board of the following organizations in addition to 3M: Abbott Laboratories, University of Minnesota Foundation Board of Trustees. Ashish has been with the company for more than 26 years. 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. Mr. Dillon served as President from 1995 to 2003 and was elected Executive Vice President in 1990. 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 . 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. St. Paul, MN 55144-1000 Mr. Dillon is on the board of the following public company in addition to 3M: Union Pacific Corporation. Hornbaker says attending committee meetings might be another responsibility. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. In this role, he leverages his many years of experience as both a technology and business leader. John came to 3M in 1995 as a research chemist in the corporate R&D organization, working primarily on acrylic adhesives and tapes. Inspired, passionate leaders have the power to transform, Jeff says. This post is based on their FW Cook memorandum. The information shown here is a reporting of information included in the company's proxy statement. %PDF-1.6 % Mr. Roman also has held numerous leadership positions in Asia Pacific and Europe, across multiple businesses. Higher-paying sectors tend to place a greater weighting on equity; Energy and Technology companies have the most equity-heavy mix while Financial Services organizations have the least. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. 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. She has been married more than 20 years, with two teenage kids. She currently serves as Adjunct Professor of Executive Education at the Kellogg School of Management, Northwestern University, and is currently a member of the Dallas Mavericks Advisory Council, Business and Community Advisory Council of the Federal Reserve Bank of Dallas, and the Committee of 100. Can we afford $1.3M home? Prior to joining 3M in 2001, Kevin was a partner at Kirkland & Ellis in Chicago. Investopedia does not include all offers available in the marketplace. She has led global organizations through major transformations with decades of strategic and operational experience serving the business marketplace, including roles as president, AT&T National Business and president, and AT&T Integrator Solutions. A proxy statement is a document the SEC requires companies to provide shareholders that includes information needed to make decisions at shareholder meetings. 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 . 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. Chicago, IL 60603. 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. 224-1W-02 investorrelations@3M.com. Tel: (651) 737-6523 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. 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 . Mr. "The Types of Directors," Pages 1-2. 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. Mike and his family enjoy a variety of physical fitness and outdoor activities. You can sign up for additional alert options at any time. The estimated base pay is $176,111 per year. Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. Country Governance and Services comprises Global Country Leadership, the Workplace Group, Global Service Centers, and 3Ms Emerging Markets. The Company assumes no obligation to update or revise any forward-looking statements. The more qualifications you can bring to the table, the better. 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. 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. Formal board meetings where all the directors are present typically occur four to six times per year, depending on the company. Board membership is less stressful and time-consuming than earlier positions board members have taken on, while still offering an impressive income. 102 0 obj <> endobj 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 Investor Relations Department Amy Fontinelle has more than 15 years of experience covering personal finance, corporate finance and investing. 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. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. In his current position, John remains focused on driving change, challenging the status quo and helping develop the 3M leaders of tomorrow. For example, audit committees have regular meetings before public filings, she says. Hornbaker says pay depends on the complexity of the company, whether it's public or private, the number of meetings it entails, and the amount of responsibility involved. 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. You will compete for board positions with people who have been extremely successful at a young age. Could you fill that gap? 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? Here are a couple of examples of what Fortune 500 companies pay their board members. ", Veritas. [Br*L7r/Nv&rrzDGx0V:o,eIY^'(O >vXT cct"o3jvYEfp.w$}0BirMZIHI6M)9z?eOtp'pON{~YN>=mCs:a'heTb\G. A decades-long career at 3M can span a diverse range of businesses, market segments and geographies, Mike says. Executive Vice President and Chief Financial Officer of Microsoft Corporation, a global technology company. The brands listed above are trademarks of 3M. By learning about the backgrounds of existing board members, you can extrapolate what the company is probably looking for in new ones. Of this total $47,843 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 . Ms. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Look for a gap in expertise that might be left when a current board member steps down. Karina led strategic planning for the companys international operations and served as managing director for 3M Indonesia. You may also find the annual proxy statement by going directly to the company's website. In connection with Ms. Kereere's election, the Board of Directors . Jeff has lived and worked internationally for 3M, and always with a great passion on exceeding customer expectations. 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. For online networking, Mark Rogers, CEO of BoardProspects.com, recommends his site, a board-recruitment network akin to LinkedIn. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Dr. Moyo is a global economist and author who analyzes the macroeconomy and international affairs. He serves on the boards of Special Olympics International, Cambridge China Development Trust, Council on Foreign Relations, and Emory University. Similar to last year, 63% of companies provide additional compensation to committee members. Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. 3Ms culture brings together passionate people with purpose and strategy to solve some of the worlds toughest challenges.. He serves on the board of Abbott Laboratories and on the University of Minnesota Foundation Board of Trustees. 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 descriptions are fairly generic. Leaders serve by creating an inclusive environment which values diverse perspectives, teamwork and innovation. 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. 3M CO annual reports of executive compensation and pay are most commonly found in the Def 14a documents.

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