3m board of directors compensation3m board of directors compensation

3M (NYSE: MMM) announced today that Anne H. Chow, retired chief executive officer of ATT 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. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> His team supports the success of the 3M Operating Model, ensuring strong customer and employee engagement globally, protecting the reputation of 3M, providing world global services, while driving the companys workplace transformation strategy. 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. 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. Leadership is about connecting with and inspiring others to achieve their best, Mark says. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. 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. A decades-long career at 3M can span a diverse range of businesses, market segments and geographies, Mike says. 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. To effectively drive growth, it is important to keep the customer at the center of everything we do. endstream endobj 103 0 obj <. The compensation analysis excludes any temporary reductions to director compensation implemented due to the pandemic. 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. Effective July 1, 2022, Jeff is also leading 3Ms Health Care Business Group on an interim basis. Board members in general, by the way, participated in an average of 7.9 meetings, in person or remotely, during the year. He leads a global Legal Affairs team that helps guide business opportunities, address enterprise risks, protect intellectual property, shape the development of law and policy, and strengthen compliance and security. Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor tax expert. % For the past eight years, Ms. Mike joined the company in 1992, shortly after earning a Ph.D. in chemistry from M.I.T. 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. Erics last role was Group President of Enterprise Operations, where he led global Manufacturing and Supply Chain for 3M, driving end-to-end optimization. Dr. Moyo was Chief Executive of Officer of Mildstorm LLC, a financial and economics firm, from 2015 to 2021. My new VP is in the company less than 6m and in the position 3m. 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. 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. This is a defining time for all companies and 3M is no different in that respect, Scott said. 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. I believe great leaders are great listeners who carry themselves with humility, authenticity, accessibility, transparency and integrity.. For its 2021 fiscal year, 3M CO, listed the following board members on its annual proxy statement to the SEC. Unsurprisingly, the board disagrees with the USW proposal. 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. "Few Hours, Soaring Pay for Corporate Board Members.". She has lived and worked around the world for 3M, including in Asia Pacific, Europe and the United States. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. 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 . Retired Chairman of the Board and Chief Executive Officer, The Kroger Co. Thorough reviews have been conducted to assure this data accurately reflects disclosures. I have been an Office Manager 21 yrs. She has been in the accounting, audit, and tax profession for more than 13 years, working with individuals and a variety of companies in the health care, banking, and accounting industries. 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. I feel blessed and give everything I have to leave 3M in a better place, every day.. What Is the Salary of the Federal Reserve Chair? Mr. Pizarro served as president of SCE from 2014 to 2016. Its about supporting constant iteration, until a point you make yourself obsolete.. President Joe Biden intends to name Karen Lynch, CEO of CVS Health, to his Export Council. 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. 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. Throughout Mikes career, he has lived and led businesses around the world, including the United States, Europe and Asia. Mr. Pizarro is on the board of the following public company in addition to 3M: Edison International. By learning about the backgrounds of existing board members, you can extrapolate what the company is probably looking for in new ones. As a member of Board of Directors at 3M CO , Vance D. Coffman made $107,459 in total compensation. Before joining the Edison International companies, Mr. Pizarro was a senior engagement manager with McKinsey & Company. 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. Page served as Executive Director of Cargill from 2015 to 2016, Executive Chairman from 2013 to 2015, Chief Executive Officer from 2007 to 2013, and President from 2000 to 2007. 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. Tel: (651) 737-6523 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. endobj She earned her degree in manufacturing engineering from Brunel University London, and diploma in personnel management from Thames Valley University. At 3M, we promise to treat your data with respect and will not share your information with any third party. Learn how we're working to improve lives and make what's next at 3M.com/newsor on Twitter at@3Mor@3MNews. 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. 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. 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 . Chairman and Chief Executive Officer of Dow, Inc., a leading global materials science company. 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. Anne Chow and Pedro Pizarro elected to 3M Board of Directors, Caution Concerning Forward-Looking Statements, https://www.prnewswire.com/news-releases/anne-chow-and-pedro-pizarro-elected-to-3m-board-of-directors-301741429.html, SDS, RDS, More Regulatory & Compliance Information. You will compete for board positions with people who have been extremely successful at a young age. Why Investors Should Look at the Proxy Statement, Disney Names New Chair, Eases Park Rules Amid Proxy Battle. He was assigned to lead 3Ms $5.5B Electronics & Energy Business Group in July 2017. degree from Harvard University and a Ph.D. in Economics from the University of Oxford. Prior to GE, Monish gained experience at A.F. x\s6(uj L3#inj'Flt?MR4(X,v _u]o_m-W?wpys1_#i5HJ 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 . Executive search firms can streamline the process since theyll know about available positions. I am extremely thankful for the company and leaders I work for at 3M, Eric says. In this role, he leverages his many years of experience as both a technology and business leader. Coronavirus Tips Working and Protection, For its 2021 fiscal year, 3M CO, listed the following executives on its annual proxy statement to the SEC. 3M has added Suzan Kereere to its board of directors. Karina led strategic planning for the companys international operations and served as managing director for 3M Indonesia. A non-executive director is a member of a company's board of directors who is not part of the executive team. 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. The average mix across the entire sample is 43% cash and 57% equity. Its members include current board members, aspiring board members, and corporations looking to hire board members. Kevin Rhodes is Executive Vice President and Chief Legal Affairs Officer, overseeing legal, compliance, government affairs and global security matters for 3M. She previously held executive leadership roles in global merchant sales and acquiring at Visa from 2016 to 2021. The estimated total pay for a Director at 3M is $346,118 per year. c/o Abbott Corporate Secretary. Could you fill that gap? In January 2020, Environmental Responsibility was added to his role, including the Environment, Health and Safety organization. Creating an atmosphere that allows people to perform at their best, collaborate broadly and enrich their own perspective makes for powerful outcomes.. Private company board compensation programs have two common cash components: An annual retainer (the amount paid to each eligible director on an annual or quarterly basis for board service) is offered by 71% of private companies surveyed. 3M CO annual reports of executive compensation and pay are most commonly found in the Def 14a documents. In early 2014, Ashish began leading one of 3Ms biggest businesses the Personal Safety Division and later that same year he was named the chief technology officer (CTO) and senior vice president of research and development of 3M. "2020 Proxy Statement," Page 12. Over the years, he has held various positions of increasing responsibility in corporate research and division labs. [Br*L7r/Nv&rrzDGx0V:o,eIY^'(O >vXT cct"o3jvYEfp.w$}0BirMZIHI6M)9z?eOtp'pON{~YN>=mCs:a'heTb\G. He then led Research & Development for the formerly Industrial Business Group initially in Asia Pacific and later globally. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 6 yrs at my current company. In this role, Kevin led ongoing efforts during the COVID-19 pandemic to combat fraud, counterfeiting, and price gouging of N95 respirators. St. Paul, MN 55144-1000 This employer has claimed their Employer Profile and is engaged in the Glassdoor community. 3M CO income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. Retired Group Vice President, Global Purchasing, Ford Motor Company, Retired Chief Executive Officer, AT&T Business, Retired Chief Financial Officer, Accenture. <> endobj %%EOF 123 0 obj <>stream Once you find a good prospect, you must be nominated by the nomination committee, then approved by shareholder election. Investopedia does not include all offers available in the marketplace. Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. They will provide invaluable insight and perspective to our board as we continue to position 3M for the future.". 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. Leadership is about serving more than yourself, he says. Ms. Chow earned her bachelor's and master's degrees in electrical engineering, and a master's degree in business administration, from Cornell University. Fixed retainers remain more prevalent than meeting fees as the means to deliver additional compensation. AP6D. 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. He received his J.D., magna cum laude, from Northwestern University; and his B.A. The report recommended that companies start compensating board directors with cash and equity. "Anne has decades of experience in technology and business, and a proven track record of transforming global organizations and community engagement. Know Your Worth. Finally, make sure you are networking and letting people know what boards you are suitable for, while also leveraging contacts you might have with the companies that you might be interested in, Hornbaker says.
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