3m board of directors compensation

3 0 obj She has lived and worked around the world for 3M, including in Asia Pacific, Europe and the United States. Mr. We believe that good corporate governance serves the long-term interests of stockholders, strengthens the Board and management, and further enhances the public trust 3M has earned from more than a century of operating with uncompromising integrity and doing business the right way. A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. 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. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. He was elected to the Cargill Board of Directors in 2000 and elected Chairman of the Board in 2007. Why Investors Should Look at the Proxy Statement, Disney Names New Chair, Eases Park Rules Amid Proxy Battle. 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. 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 . It claims that including the USW proposal would involve "significant time, cost and resource . He has held a wide range of other senior executive positions at the Edison International companies since joining in 1999. He is a member of the Marketing Leadership Council and serves on several non-profit and community boards. 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. As a former Big, Mike is a long-time supporter of Big Brothers Big Sisters of America. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. 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. (2005-2013) (alternate member of the Board of Directors, (1999 to 2005)) Previous experience. 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. At 3M, we promise to treat your data with respect and will not share your information with any third party. Karina led strategic planning for the companys international operations and served as managing director for 3M Indonesia. This would be in addition to the peer group benchmarks (what other CEOs make) that the company uses to determine CEO compensation. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. For example, audit committees have regular meetings before public filings, she says. Ms. Chow 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. investorrelations@3M.com. "3M is a globally diverse company in so many dimensions," Ashish says. 118 0 obj <>/Filter/FlateDecode/ID[<7EC0A6CD8E76974B8000B812351B4C61><50CA0BECC4E50243A657300F9E70214C>]/Index[102 22]/Info 101 0 R/Length 82/Prev 76119/Root 103 0 R/Size 124/Type/XRef/W[1 2 1]>>stream 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. Zoe is a chartered member of Chartered Institute of Personnel & Development. The average salary for a Director is $129,368 per year in United States, which is 62% lower than the average 3M salary of $346,118 per year for this job. "Few Hours, Soaring Pay for Corporate Board Members.". 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.". 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. 10 S. Dearborn St., 54th Floor. Retired Group Vice President, Global Purchasing, Ford Motor Company, Retired Chief Executive Officer, AT&T Business, Retired Chief Financial Officer, Accenture. Kevin and his wife Melinda have three adult children. 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. 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. Kevin Rhodes is Executive Vice President and Chief Legal Affairs Officer, overseeing legal, compliance, government affairs and global security matters for 3M. Tel: (651) 737-6523 Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. As executive vice president and chief human resources officer, Zoe Dickson leads 3Ms transformative agenda for people and culture. This compensation may impact how and where listings appear. That year's top payer was Goldman Sachs Group Inc., which paid its directors an average of $599,279. The estimated base pay is $176,111 per year. As vice president of operational transformation, he led the companys transformation initiatives driving operating rigor and lean management across the company. The Board is mainly comprised of outside, independent directors. Mike later became general manager of 3M Spain. Most recently he served as CFO of GE Healthcare. It regularly meets in executive session, without the presence of Rogers' management. Mr. Brown served in various leadership capacities in global purchasing since joining Ford in 1999. Equity grants most commonly vest immediately, or cliff-vest after one year. "2020 Proxy Statement," Page 12. 3M CO annual reports of executive compensation and pay are most commonly found in the Def 14a documents. My new VP is in the company less than 6m and in the position 3m. ", Reuters. 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. Retired Chief Financial Officer, Accenture plc., a global management consulting, technology services and outsourcing company. 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. 3M Investor Relations Department Abbott Laboratories, Dept 364, Bldg. We also reference original research from other reputable publishers where appropriate. She earned a B.A. Prior to joining 3M in 2001, Kevin was a partner at Kirkland & Ellis in Chicago. On Fishbowl, you can share insights and advice anonymously with 3M employees and get real answers from people on the inside. You must click the activation link in order to complete your subscription. Inside directors, who are mostly C-suite level executives, don't receive additional compensation. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. 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. 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. Leaders serve by creating an inclusive environment which values diverse perspectives, teamwork and innovation. 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. 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. 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 . The estimated base pay is $176,306 per year. She is co-principal of Versaca Investments, a family office focused on growth investing globally she co-founded in 2021. He can also be found running, antiquing, reading science fiction and spending time with his family. 3M Investor Relations Department For him, that comes down to business/market analysis and team success. After submitting your request, you will receive an activation email to the requested email address. The estimated additional pay is $170,007 per year. 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. During his assignment as the laboratory head in India, Ashish was responsible for establishing its first product development laboratory and capabilities. Board membership is less stressful and time-consuming than earlier positions board members have taken on, while still offering an impressive income. 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%). You will compete for board positions with people who have been extremely successful at a young age. Monish is a certified chartered accountant and a certified cost accountant from the Institute of Cost and Works Accountants of India. Personal health and fitness are his passion. He joined 3M in 1987 as a health care sales representative. This post is based on their FW Cook memorandum. 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. hb```e``3,00```T~s@@(` 3M Company Board of Directors Compensation Committee Charter (As Amended February 10, 2003) A. 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. 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. 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. Prior to 3M, Peter served as chief executive officer of TireHub, a joint venture last mile distributor between Bridgestone and Goodyear. Bldg. Investopedia requires writers to use primary sources to support their work. You must click the activation link in order to complete your subscription. After spending almost two years with Aearo integrating it into 3M, Mike became managing director of 3M Brazil in 2009. Download required. I have been an Office Manager 21 yrs. Exelon Corporation. Throughout his career he has led large technology transformations including SAP implementations, digital initiatives and cybersecurity. Kereere has over 20 years of experience in leading global . 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. 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. 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 . 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. 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). 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. . How accurate is this most likely Total Pay range (base + additional) of $270K-$455K/yr? He leads a team that, among other things, helps to keep the world connected by improving efficiency in electronic devices and data centers, enables e-mobility, and advances transportation and its safety. Dr. Moyo is a global economist and author who analyzes the macroeconomy and international affairs. 123 0 obj <>stream From January 2006 through December 2006, Mr. Kent served as President of Coca-Cola International. He holds a bachelors degree in Physics from University of Edinburgh and a masters degree in Business Administration from Strathclyde Business School in Glasgow, Scotland. 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. Mr. Pizarro is a member of Edison International's Board of Directors. 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. 3Ms purpose drives its performance, and the company is advancing four strategic priorities to support long-term value creation: Portfolio Management, Transforming the 3M Operating Model, Growth through Innovation, and People and Culture. In his spare time, he dedicates himself to being a loving husband and father and growing his family. John came to 3M in 1995 as a research chemist in the corporate R&D organization, working primarily on acrylic adhesives and tapes. Leadership is about serving more than yourself, he says. Kevin is a champion for diversity and inclusion in the legal profession, growing talent and serving communities. About3M Private company board compensation programs have two common cash components: An annual retainer (the amount paid to each eligible director on an annual or quarterly basis for board service) is offered by 71% of private companies surveyed. 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. Mr. Dillon served as President from 1995 to 2003 and was elected Executive Vice President in 1990. Engage in conversations about Director pay with other professionals in the community. Obviously, if there is a crisis or a strategic issuefor example, an acquisitionthe number of hours for a director can dramatically increase, Rogers says. A non-executive director is a member of a company's board of directors who is not part of the executive team. Ms. Kereere is also a longtime champion for equity and inclusion in business and society. 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. In his current position, John remains focused on driving change, challenging the status quo and helping develop the 3M leaders of tomorrow. Ms. 224-1W-02 Ms. Craig is on the boards of the following public companies in addition to 3M: Corning, Inc.; Merck & Company; Progressive (Insurance) Corporation. Aptiv PLC (Compensation and Human Resources, and Nominating and Governance committees) Additional Positions. Average compensation in 2018 at those firms was $304,856, according to Reuters. 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. 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. 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. Director compensation structure remains consistent with prior years, with an average mix of 57% equity and 43% cash across the entire sample. 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. 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. 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. Eric serves on the boards of the U.S. Chamber of Commerce, St. Paul & Minnesota Foundation, and National Association of Manufacturing. Mr. Fitterling is also a passionate advocate for inclusion and diversity with a focus on diversifying Dows global talent, enhancing innovation and the customer experience, and strengthening relationships in the communities the company serves. Inspired, passionate leaders have the power to transform, Jeff says. 3M Investor Relations Department He previously had led 3Ms Digital Transformation, one of the companys three value creation levers. Mike joined the company in 1992, shortly after earning a Ph.D. in chemistry from M.I.T. 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. Ive been fortunate enough to see this company from many, many anglesand 3M is impressive no matter where you are in the world.. He previously served as chief operating officer, led 3Ms largest business group and was chief strategist. Bldg. 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.

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