They will provide invaluable insight and perspective to our board as we continue to position 3M for the future.". 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 . Investopedia does not include all offers available in the marketplace. That's actually a 5% increase from the year before. Retired Chairman of the Board and Chief Executive Officer, The Coca-Cola Company, the worlds largest beverage company. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. Aside from the financial compensation, your reward will be having substantial input into major decisions made by the company, such as executive hires, policies on dividends and stock options, and executive payall while representing the best interests of management and shareholders. 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.. 0 From 1997 to 1999 he served in leadership positions at United Technologies Corporation, including its Vice President, Supply Management. The median annual retainer is $30,000, up from $28,000 in 2020. As a member of Board of Directors at 3M CO , Thomas made $320,487 in total compensation. Mr. Roman served as Chief Executive Officer of 3M Company from July 2018 to May 2019. Formal board meetings where all the directors are present typically occur four to six times per year, depending on the company. From January 2006 through December 2006, Mr. Kent served as President of Coca-Cola International. 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. "I believe that building confidence and removing the fear of failure are key components of leadership," says Peter. 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. For its 2021 fiscal year, 3M CO, listed the following CEO pay ratio data on its annual proxy statement to the SEC. According to the company's 2021 proxystatement, Walmarts compensation program for outside directors offers base compensation of a $175,000 annual stock grant and a $100,000 annual retainer. 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 . From December 2006 through June 2008, Mr. Kent served as President and Chief Operating Officer of The Coca-Cola Company. As executive vice president and chief human resources officer, Zoe Dickson leads 3Ms transformative agenda for people and culture. In January 2020, Environmental Responsibility was added to his role, including the Environment, Health and Safety organization. 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. 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. Could you fill that gap? 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. AP6D. 3M - Governance - Committee Composition I have been an Office Manager 21 yrs. Download required. Sleep, Mike jokes, though he will say more seriously that he tries to focus his energies where they will do the most good. He returned to the Visual Systems Division before another posting in Italy as a laboratory and project manager. 224-1W-02 Mr. Brown is on the board of the following public company in addition to 3M: Tower International, Inc. Prior to that, Mr. Roman served as Executive Vice President and Chief Operating Officer of 3M Company from July 2017 to June 2018, Executive Vice President of 3Ms Industrial Business from May 2014 to June 2017, and Senior Vice President of Business Development from May 2013 to May 2014, with responsibility for 3Ms strategic roadmap. Retired Chairman and Chief Executive Officer of Cargill. Inside directors, who are mostly C-suite level executives, don't receive additional compensation. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. He received his J.D., magna cum laude, from Northwestern University; and his B.A. 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). I have been trying to get a review ever since and no one will say what is going on. To effectively drive growth, it is important to keep the customer at the center of everything we do. 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. 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? 3M - Department of Defense Data Reveals No Hearing - investors.3m.com 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. 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. This is a defining time for all companies and 3M is no different in that respect, Scott said. I wanted to make sure that the company was really serious about doing this work and that this was something I could see myself getting behind to make a difference because I have a bias for action. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. The median compensation for members of private company boards of directors was $44,850 in 2021, according to a global study by Lodestone Global. After submitting your request, you will receive an activation email to the requested email address. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. If you experience any issues with this process, please contact us for further assistance. %PDF-1.7 Chairman and Chief Executive Officer of Dow, Inc., a leading global materials science company. CleanLink News. The median decrease in director compensation was 50% at S&P 500 companies and 40% at Russell 3000 companies. Suzan Kereere elected to 3M Board of Directors - Feb 9, 2022 I believe great leaders are great listeners who carry themselves with humility, authenticity, accessibility, transparency and integrity.. Dr. Moyo served as Global Economist & Capital Markets at Goldman Sachs from 2001 to 2008. 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. VUL^07d=xy2 *'..j(( Hs00 Similar to last year, 63% of companies provide additional compensation to committee members. Tel: (651) 737-6523 Jeff Lavers is the group president of 3Ms Consumer Business Group. In November 2021, Karina assumed her current role as senior vice president and chief strategy officer. 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 . 3M CO Board Member Muhtar Kent | Salary.com Leaders serve by creating an inclusive environment which values diverse perspectives, teamwork and innovation. You can sign up for additional alert options at any time. Only outside directors get compensation specifically for serving on the board. 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, 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. You can sign up for additional alert options at any time. Executive Vice President and Chief Financial Officer of Microsoft Corporation, a global technology company. Under Mikes leadership, 3M has also helped lead the worlds response to COVID-19, which includes distributing more than 4 billion respirators to protect nurses, doctors and first responders. 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. 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. The brands listed above are trademarks of 3M. He has held a wide range of other senior executive positions at the Edison International companies since joining in 1999. Walmart. He began his professional career as a senior research engineer in 3M laboratories in St. Paul. 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. It regularly meets in executive session, without the presence of Rogers' management. Director compensation structure remains consistent with prior years, with an average mix of 57% equity and 43% cash across the entire sample. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Learn how we're working to improve lives and make what's next at 3M.com/newsor on Twitter at@3Mor@3MNews. You must click the activation link in order to complete your subscription. Ms. Kereere is also a longtime champion for equity and inclusion in business and society. As a CTO, Ashish led the global 3M team of over 8,000 scientists and engineers. 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. IBM Board of Directors (PAGE 10) Director Nominees IBM's Board is composed of a diverse, experienced group of global She also worked at the World Bank in Washington, D.C. from 1993 to 1995. As a member of Board of Directors at 3M CO , Vance D. Coffman made $107,459 in total compensation. Karina led strategic planning for the companys international operations and served as managing director for 3M Indonesia. Zoe is a chartered member of Chartered Institute of Personnel & Development. 123 0 obj <>stream Companies in all size segments continue to provide more than half of total pay in equity, on average, with equity weighting generally increasing with company size. Throughout his 20-year 3M career, Kevin has led legal teams in areas of increasing responsibility. It goes a lot higher from there. Non-executive board chairs are almost always provided additional compensation for the role, with the median ranging from $72,500 at small-cap companies to $175,000 at large-cap companies. Ferguson & Co, a former KPMG affiliate. John has a Ph.D. in inorganic chemistry from Stanford University, and a bachelors degree in chemistry from Hamline University. 3M Investor Relations Department 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. 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. <> 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. 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. In this role, he leverages his many years of experience as both a technology and business leader. 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 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). Amy Fontinelle has more than 15 years of experience covering personal finance, corporate finance and investing. PDF 3M Company Board of Directors Compensation Committee Charter (As Help make it more accurate by adding yours. 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 Its that excitement, mixed with his incredible passion and leadership, that has led to some of 3Ms biggest equitable actions in the past year. 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. endstream endobj 103 0 obj <. Incorporation is the legal process by which a business entity is formed. PDF 3M Board of Directors Nominating and Governance Committee Charter Mike holds a masters degree in Electrical Engineering from the University of Southern California, and a bachelors degree from the University of Minnesota. "Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? 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. 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. <>/Metadata 125 0 R/ViewerPreferences 126 0 R>> 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. degree from Harvard University and a Ph.D. in Economics from the University of Oxford. He was most recently head of 3Ms Health Care Business Group, and prior to that led the companys Consumer Business Group. investorrelations@3M.com. Exelon Corporation. Head of Global Business Solutions, Fiserv, Inc., a leading fintech and payments company. Hornbaker also recommends becoming educated on the fundamentals of governance and directorship through a program such as the National Association of Corporate Directors Director Professionalism program. 224-1W-02 He previously worked at St. Jude Medical for more than 15 years, holding multiple technology roles of increasing responsibility. 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. The report recommended that companies start compensating board directors with cash and equity. "Definitive Proxy Statement, Apple 2021. Ashish has been with the company for more than 26 years. c/o Abbott Corporate Secretary. 224-1W-02 St. Paul, MN 55144-1000 Tel: (651) 737-6523 investorrelations@3M.com As a former Big, Mike is a long-time supporter of Big Brothers Big Sisters of America. Aptiv PLC (Compensation and Human Resources, and Nominating and Governance committees) Additional Positions.