Aptiv PLC (Compensation and Human Resources, and Nominating and Governance committees) Additional Positions. A corporation is a separate legal entity from its owners. The estimated total pay for a Director at 3M is $346,118 per year. For him, that comes down to business/market analysis and team success. 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. Mr. 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, Mr. Pizarro earned his bachelor's degree in chemistry from Harvard University and his Ph.D. in chemistry from the California Institute of Technology. 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. Karina led strategic planning for the companys international operations and served as managing director for 3M Indonesia. He retired from Ford on August 1, 2013. He joined 3M in 1988 as a senior design engineer. 1 0 obj President and CEO, Edison International, the parent company of Southern California Edison (SCE), one of the nations largest electric utilities, since 2016. Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. Investopedia does not include all offers available in the marketplace. At 3M, we promise to treat your data with respect and will not share your information with any third party. Personal health and fitness are his passion. St. Paul, MN 55144-1000 "Definitive Proxy Statement, Apple 2021. 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. He has held a wide range of other senior executive positions at the Edison International companies since joining in 1999. 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. 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. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. The brands listed above are trademarks of 3M. Sales Compensation Trends Revealed in New Survey. This compensation may impact how and where listings appear. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. In his free time, he enjoys spending time with his wife and three kids, as well as a variety of outdoor activities including hiking, biking and fishing. "Private Company Board Compensation Survey. Purpose: The Compensation Committee (the "Committee") of the Board of Directors of 3M Company reviews the Company's compensation practices and policies, annually reviews and 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. By learning about the backgrounds of existing board members, you can extrapolate what the company is probably looking for in new ones. 3M leverages its 51 technology platforms to create differentiated solutions for customers through four business groups: Safety & Industrial, Transportation & Electronics, Health Care, and Consumer. The most common director ownership guideline is 5x the annual cash retainer with a 5-year timeframe to meet the guideline. Why Investors Should Look at the Proxy Statement, Disney Names New Chair, Eases Park Rules Amid Proxy Battle. Michael Ferrante and Connor Damon are consultants at FW Cook. Another example would be compensation meetings to discuss compensation plans and awards.. These descriptions are fairly generic. "People achieve great things when they are embraced and valued; when they are connected, not isolated; and when their intelligence and imagination are unleashed". c/o Abbott Corporate Secretary. In January 2020, Environmental Responsibility was added to his role, including the Environment, Health and Safety organization. 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 . You may also find the annual proxy statement by going directly to the company's website. "U.S. company directors compensated more than ever, but now risk backlash.". Retired Chairman of the Board and Chief Executive Officer, The Kroger Co. In early 2020, Garfield Bowen was leading global R&D operations and project management for one of 3Ms largest divisions when he got a call from the chief human resources officer a call that would completely change his career trajectory. 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. 3M United States Investor Relations Governance Board of Directors Investor Relations IR Home About 3M Stock Information Financials Events & Presentations News Governance Resources Board of Directors Thomas K. Brown Retired Group Vice President, Global Purchasing, Ford Motor Company Anne H. Chow Retired Chief Executive Officer, AT&T Business investorrelations@3M.com. 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. Kevin Rhodes is Executive Vice President and Chief Legal Affairs Officer, overseeing legal, compliance, government affairs and global security matters for 3M. In 2008, he became Ford's Group Vice President, Global Purchasing, with responsibility for approximately $90 billion of production and non-production procurement for Ford operations worldwide. 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. How accurate is this most likely Total Pay range (base + additional) of $270K-$455K/yr? Three years later, he was tapped to lead 3Ms corporate research lab. Help make it more accurate by adding yours. Most recently he served as CFO of GE Healthcare. Creating an atmosphere that allows people to perform at their best, collaborate broadly and enrich their own perspective makes for powerful outcomes.. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. She also worked at the World Bank in Washington, D.C. from 1993 to 1995. 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. As executive vice president and chief human resources officer, Zoe Dickson leads 3Ms transformative agenda for people and culture. A decades-long career at 3M can span a diverse range of businesses, market segments and geographies, Mike says. View SAI KRISHNA.docx from STAT 5561 at University of Missouri, Kansas City. During his assignment as the laboratory head in India, Ashish was responsible for establishing its first product development laboratory and capabilities. Mr. Kent held the position of Chairman of the Board from April 23, 2009 to April 30, 2019. That year's top payer was Goldman Sachs Group Inc., which paid its directors an average of $599,279. 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. "People from all backgrounds and experiences work together and create new and differentiated solutions to solve our customers' and their customers' problems -- across so many industries and geographies.". He serves on the board of Abbott Laboratories and on the University of Minnesota Foundation Board of Trustees. U.S. Securities and Exchange Commission. It goes a lot higher from there. Ms. Craig is on the boards of the following public companies in addition to 3M: Corning, Inc.; Merck & Company; Progressive (Insurance) Corporation. 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 . 3M Investor Relations Department In 2018, he was inducted into the Intellectual Property Hall of Fame by the IP Hall of Fame Academy. Executive Vice President and Chief Financial Officer of Microsoft Corporation, a global technology company. 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. 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. He was a senior research chemist in the Visual Systems Division before joining 3M Italy as a product development engineer. 224-1W-02 St. Paul, MN 55144-1000 Tel: (651) 737-6523 investorrelations@3M.com 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 proxy statement is a document the SEC requires companies to provide shareholders that includes information needed to make decisions at shareholder meetings. 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. 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 . Approximately 85% of companies have director ownership guidelines, while stock retention requirements are less common, present at 42% of companies. Ms. Chow is on the board of the following public company in addition to 3M: FranklinCovey. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. "3M is a globally diverse company in so many dimensions," Ashish says. He enjoys pushing himself mentally and physically in a broad range of athletics. investorrelations@3M.com. 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. The Boston Globe reports that the average time commitment to serve on a board is fewer than five hours per week. Thorough reviews have been conducted to assure this data accurately reflects disclosures. The report recommended that companies start compensating board directors with cash and equity. The more qualifications you can bring to the table, the better. The offers that appear in this table are from partnerships from which Investopedia receives compensation. She earned a B.A. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Ms. Craig served as Accenture's CFO from 2006 through 2013, following her many other leadership roles in line management, consulting and operations at Accenture during her 34 years with the company. He then led Research & Development for the formerly Industrial Business Group initially in Asia Pacific and later globally. You can sign up for additional alert options at any time. Under his leadership, the company has committed to providing much-needed innovation and resources to address key sustainability challenges such as plastic waste and climate change. 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. It claims that including the USW proposal would involve "significant time, cost and resource . 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. He joined 3M in 1987 as a health care sales representative. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. In 2011, he became executive vice president of the Consumer Business Group, and in 2016 was appointed executive vice president of the Health Care Business Group. For the past eight years, Ms. John and his team also oversee 3Ms environmental responsibility efforts, with a focus on advancing environmental stewardship and accelerating 3Ms environmental commitments. Sleep, Mike jokes, though he will say more seriously that he tries to focus his energies where they will do the most good. Ashish is a trained Chemical Engineer, with a bachelors degree from Indian Institute of Technology, Delhi, and a Ph.D. from the University of Minnesota. Mike joined the company in 1992, shortly after earning a Ph.D. in chemistry from M.I.T. The new 2022 third edition of the survey contains over 1,200 responses, an increase of about 300 participants from the prior full version of the . Walmart's current board members include Cesar Conde, 47, chair of NBCUniversal, and Marissa Mayer, 46, who is well-known for the high positions she achieved at Google and Yahoo. Dow's Board of Directors exemplifies good governance with solid, diverse experience and credentials. They will provide invaluable insight and perspective to our board as we continue to position 3M for the future.". You must click the activation link in order to complete your subscription. His growth mindset, inclusive leadership, and orientation toward developing talent and culture has helped him lead highly successful complex changes and significant transformation. Prior to 3M, Peter served as chief executive officer of TireHub, a joint venture last mile distributor between Bridgestone and Goodyear. Chairman and Chief Executive Officer of Dow, Inc., a leading global materials science company. In November 2021, Karina assumed her current role as senior vice president and chief strategy officer. 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. Retired Group Vice President, Global Purchasing, Ford Motor Company, a global automotive industry leader. He served in that role until 2012, when he became global business director for 3Ms Industrial Adhesives and Tapes Division. The 3M board of directors is mostly composed of former CEOs. Lead, Columbia University's SIPA Tech & Policy Initiative; . The median compensation for members of private company boards of directors was $44,850 in 2021, according to a global study by Lodestone Global. Our household income is $240k and have $400k for down payment after selling all stocks. 0 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. She 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. Dr. Moyo is a global economist and author who analyzes the macroeconomy and international affairs. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Phone: 651-737-6501 or 800-3M-HELPS 3M Investor Relations Department Bldg. endobj Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? 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%). 3M provides a match up to a certain percent, 3M is a global science company that never stops inventing. Kevin and his wife Melinda have three adult children. 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. 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. Mr. Dillon is on the board of the following public company in addition to 3M: Union Pacific Corporation. Board members in general, by the way, participated in an average of 7.9 meetings, in person or remotely, during the year. %PDF-1.7 Unsurprisingly, the board disagrees with the USW proposal. 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 . Make sure your resume states what you will specifically bring to the table as a board member.. After submitting your request, you will receive an activation email to the requested email address. Director Compensation Practices offers a comprehensive set of benchmarking data and analysis needed to inform the board pay design process. He was elected to the Cargill Board of Directors in 2000 and elected Chairman of the Board in 2007. investorrelations@3M.com. Get a free, personalized salary estimate based on today's job market. He serves on the boards of Special Olympics International, Cambridge China Development Trust, Council on Foreign Relations, and Emory University. Explore our Directors and their backgrounds. endstream endobj startxref About3M Ms. Chairman of the Board and Chief Executive Officer of 3M Company. 224-1W-02 If the company wasnt serious about action, then I wouldnt be the right candidate., Listening to our communities: The diverse voices and perspectives of 3M's Community Coalition, During his 33-year tenure at 3M, Global Diversity and Inclusion Strategist Scott Morris has never been more excited to be a part of a company and movement that is helping affect peoples lives. The Board has delegated certain authority to a number of standing committees, including an Audit Committee, Compensation and Organization Committee and Nominating and Governance Committee. Retired Chairman of the Board and Chief Executive Officer, United Parcel Service, Inc., a provider of specialized transportation and logistics services. As a former Big, Mike is a long-time supporter of Big Brothers Big Sisters of America. "Few Hours, Soaring Pay for Corporate Board Members.". By learning about the backgrounds of existing board members, you can extrapolate what they may be looking for in new ones. 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 She is married with two teenage children, and enjoys hiking, baking, and exploring the world with her family. He served as Coca-Colas Chief Executive Officer from July 2008 to April 2017. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. 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. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. Erics last role was Group President of Enterprise Operations, where he led global Manufacturing and Supply Chain for 3M, driving end-to-end optimization. The Technology sector provides the highest median equity retainer ($161,595) and Financial Services the lowest ($100,000). Boards aren't entirely made up of retirees and people nearing the end of their careers. 123 0 obj <>stream 10 S. Dearborn St., 54th Floor. He can also be found running, antiquing, reading science fiction and spending time with his family. %PDF-1.6 % That's a 43% increase over 10 years. Can we afford $1.3M home? endstream endobj 103 0 obj <. Retired Chief Financial Officer, Accenture plc., a global management consulting, technology services and outsourcing company. I am starting to look elsewhere but I have great WFH life now. In his free time, Kevin enjoys travel, outdoor activities including fishing, hiking and gardening, and spending time with his family. 3Ms culture brings together passionate people with purpose and strategy to solve some of the worlds toughest challenges.. All proxy statements are public filings made available to the general public by the SEC. In connection with Ms. Chow and Mr. Pizarro's election, the Board of Directors increased its size from 11 to 13 members. 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. 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 CO income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. 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.. 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. 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. 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. Outside of work he enjoys reading, following college sports and spending time with his family. 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. Leaders serve by creating an inclusive environment which values diverse perspectives, teamwork and innovation. 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. 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. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. 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. In his current position, John remains focused on driving change, challenging the status quo and helping develop the 3M leaders of tomorrow. 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. oYgd=??/_C|72KFSI. Kevin is a champion for diversity and inclusion in the legal profession, growing talent and serving communities. Mr. Dillon served as President from 1995 to 2003 and was elected Executive Vice President in 1990. To effectively drive growth, it is important to keep the customer at the center of everything we do. You may communicate with the board of directors by writing a letter to the chairman of the board, to the chairman of the nominations and governance committee, who acts as the lead director at the meetings of the independent directors, or to the independent directors. Ashish has been with the company for more than 26 years. 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.". 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 . 03.03.2023 - Leonteq AG / Key word(s): AGMEGM Press release: Leonteq publishes agenda and proposal of the Board of Directors for the Annual General Meeting 2023 03.03.2023 / 07:00 CET/CEST PRESS . 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. 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 . In 1996, the National Association of Corporate Directors (NACD) issued the Blue Ribbon Commission Report on Director Professionalism, which had a great influence on board member compensation practices. 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. 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.
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