PDF 3M Board of Directors Nominating and Governance Committee Charter Related Searches:All Director Salaries|All 3M Salaries. Mr. Dillon served as President from 1995 to 2003 and was elected Executive Vice President in 1990. Over the years, he has held various positions of increasing responsibility in corporate research and division labs. 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. Know Your Worth. He previously led the companys litigation function, and served for more than ten years as chief intellectual property counsel, with responsibility for managing the global intellectual property assets of 3M and its worldwide affiliates. The prevalence of committee member retainers has been stable year-over-year, while the use of committee meeting fees continues to decrease. 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. 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. "Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? The 3M board of directors is mostly composed of former CEOs. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. 3M CO income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. 3 0 obj Could you fill that gap? In 2008, he returned to the U.S. to become vice president and general manager of Aearo Technologies LLC, which 3M acquired that year. Coronavirus Tips Working and Protection, For its 2021 fiscal year, 3M CO, listed the following executives on its annual proxy statement to the SEC. Year-over-year increases to total compensation, at the median, were modest among large-cap and mid-cap companies compared to small-cap companies, which had a relatively significant increase . 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 . 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. Ashish has been with the company for more than 26 years. 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. Additional pay could include bonus, stock, commission, profit sharing or tips. In 2018, he was inducted into the Intellectual Property Hall of Fame by the IP Hall of Fame Academy. Dr. Moyo is a global economist and author who analyzes the macroeconomy and international affairs. 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. 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. 3M - Department of Defense Data Reveals No Hearing - investors.3m.com He served as Coca-Colas Chief Executive Officer from July 2008 to April 2017. For online networking, Mark Rogers, CEO of BoardProspects.com, recommends his site, a board-recruitment network akin to LinkedIn. That's actually a 5% increase from the year before . Ive been fortunate enough to see this company from many, many anglesand 3M is impressive no matter where you are in the world.. In 2003 he joined McKinsey & Company, and in 2007 rejoined 3M and assumed responsibility for the overall planning and implementation of corporate strategic initiatives. 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. He then led Research & Development for the formerly Industrial Business Group initially in Asia Pacific and later globally. Mr. Fitterling was named CEO-elect of Dow in March 2018 prior to becoming CEO in July 2018, and he was elected chairman in April 2020. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. In his current position, John remains focused on driving change, challenging the status quo and helping develop the 3M leaders of tomorrow. You can sign up for additional alert options at any time. 3M CO Executive Salaries & Other Compensation | Salary.com He has held a wide range of other senior executive positions at the Edison International companies since joining in 1999. This employer has claimed their Employer Profile and is engaged in the Glassdoor community. Prior to 3M, Mark served as Chief Information Officer for Abbott Laboratories where he had global responsibilities for Abbotts technology landscape. Private Company Board Compensation and Governance 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. hbbd``b`$fH0@= , VDtbc a`$2012| Ms. Kereere has over 20 years of experience leading global businesses around the world, including in Europe, Australia, Asia and North America. Unsurprisingly, the board disagrees with the USW proposal. Mr. Pizarro served as president of SCE from 2014 to 2016. Explore our Directors and their backgrounds. Learn how this feature works. 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. Get a free, personalized salary estimate based on today's job market. 3M CO income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. 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. 3M - Governance - Governance Documents Kereere has over 20 years of experience in leading global . Bldg. Creating an atmosphere that allows people to perform at their best, collaborate broadly and enrich their own perspective makes for powerful outcomes.. 3M Company Board of Directors Compensation Committee Charter (As Amended February 10, 2003) A. 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). 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 connection with Ms. Kereere's election, the Board of Directors . Retired Chairman of the Board and Chief Executive Officer, Cargill, Chairman of the Board and Chief Executive Officer, Caution Concerning Forward-Looking Statements, SDS, RDS, More Regulatory & Compliance Information. Ms. Kereere is also a longtime champion for equity and inclusion in business and society. The companys financial objectives include continuing to grow above the markets it serves, expand margins and generate strong cash flow. From 1997 to 1999 he served in leadership positions at United Technologies Corporation, including its Vice President, Supply Management. Ms. Chow is on the board of the following public company in addition to 3M: FranklinCovey. Our household income is $240k and have $400k for down payment after selling all stocks. Mike joined the company in 1992, shortly after earning a Ph.D. in chemistry from M.I.T. Dow's Board of Directors exemplifies good governance with solid, diverse experience and credentials. Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. The Boston Globe reports that the average time commitment to serve on a board is fewer than five hours per week. Three years later, he was tapped to lead 3M's corporate research lab. He returned to the Visual Systems Division before another posting in Italy as a laboratory and project manager. He previously led the construction and home improvement business, and the companys corporate marketing and sales organization. "We are very pleased to further strengthen 3M's board with two highly accomplished, world-class leaders," said 3M chairman and CEO Mike Roman. Rogers Corporation Board of Directors I believe great leaders are great listeners who carry themselves with humility, authenticity, accessibility, transparency and integrity.. Chicago, IL 60603. Retired Chairman of the Board and Chief Executive Officer, The Coca-Cola Company, the worlds largest beverage company. Due to the COVID-19 pandemic, 15% of S&P 500 companies and roughly 13% of Russell 3000 companies reported taking pay actions through the third quarter of 2020, which generally consisted of cash retainer reductions. 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. Personal health and fitness are his passion. 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. Before joining the Edison International companies, Mr. Pizarro was a senior engagement manager with McKinsey & Company. 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. John has a Ph.D. in inorganic chemistry from Stanford University, and a bachelors degree in chemistry from Hamline University. Ms. The median compensation for members of private company boards of directors was $44,850 in 2021, according to a global study by Lodestone Global. SAI KRISHNA.docx - IBM Board of Directors (PAGE 10) For example, audit committees have regular meetings before public filings, she says. 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. A. I have been an Office Manager 21 yrs. A corporation is a separate legal entity from its owners. The estimated total pay for a Director at 3M is $346,118 per year. The brands listed above are trademarks of 3M. The brands listed above are trademarks of 3M. 123 0 obj <>stream stream Mike holds a masters degree in Electrical Engineering from the University of Southern California, and a bachelors degree from the University of Minnesota. The brands listed above are trademarks of 3M. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. He also served as a trustee on the board for University of St. Thomas and as a board member of the 3M Foundation in the past with particular focus on STEM (science, technology, engineering and math) education.. Once you find a good prospect, you must be nominated by the nomination committee, then approved by shareholder election. endobj 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. 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? 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. USW Proposal Spotlights Excessive 3M CEO Compensation For the past eight years, Ms. Pedro brings skills and experience in leading large companies and driving strategic improvements, and a deep understanding of the power of materials science to improve the world. endstream endobj 103 0 obj <. 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. 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. For its 2021 fiscal year, 3M CO, listed the following board members on its annual proxy statement to the SEC. Why Investors Should Look at the Proxy Statement, Disney Names New Chair, Eases Park Rules Amid Proxy Battle. endobj 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. 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. 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. Obviously, if there is a crisis or a strategic issuefor example, an acquisitionthe number of hours for a director can dramatically increase, Rogers says. The most common director ownership guideline is 5x the annual cash retainer with a 5-year timeframe to meet the guideline. Tel: (651) 737-6523 Zoe has been the architect of 3Ms talent and organization effectiveness strategies, and a passionate advocate for embedding diversity, equity and inclusion across the company. Board of directors - Leadership and Governance - Exelon Prior to GE, Monish gained experience at A.F. Jeff earned his bachelor of business administration degree in marketing and finance from the Robert O. Anderson School of Management at the University of New Mexico, Albuquerque. This report is not for commercial use. The Company assumes no obligation to update or revise any forward-looking statements. Prior to 3M, Peter served as chief executive officer of TireHub, a joint venture last mile distributor between Bridgestone and Goodyear. As a board member, your responsibilities would typically include preparing for and attending board meetings, and reviewing company filings and materials, she says, as well as advising management on a wide range of matters, including succession, strategy, compensation, and acquisitions. Mr. Brown is on the board of the following public company in addition to 3M: Tower International, Inc. 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. 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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