3m board of directors compensation3m board of directors compensation

St. Paul, MN 55144-1000 You can sign up for additional alert options at any time. 3M Expands Board of Directors February 14, 2022. Throughout her life and career, Karina has lived and worked around the world. Corporate boards are made up of highly successful executive outsiders. Hornbaker says attending committee meetings might be another responsibility. He has held a wide range of other senior executive positions at the Edison International companies since joining in 1999. This report is not for commercial use. President and CEO, Edison International, the parent company of Southern California Edison (SCE), one of the nations largest electric utilities, since 2016. Retired Chairman of the Board and Chief Executive Officer, United Parcel Service, Inc., a provider of specialized transportation and logistics services. Ashish has a strong technical background and has authored 10 patents. As vice president of operational transformation, he led the companys transformation initiatives driving operating rigor and lean management across the company. Prior to 3M, Peter served as chief executive officer of TireHub, a joint venture last mile distributor between Bridgestone and Goodyear. If you experience any issues with this process, please contact us for further assistance. You can sign up for additional alert options at any time. 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. 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. Chairman of the Board and Chief Executive Officer of 3M Company. The estimated additional pay is $170,007 per year. 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. Effective July 1, 2022, Jeff is also leading 3Ms Health Care Business Group on an interim basis. Ferguson & Co, a former KPMG affiliate. Prior to her current role, she served as senior vice president of Talent, Learning and Insights. 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. Ashish serves as a member of the board of directors of Constellation and on the Deans advisory board for the College of Science and Engineering at the University of Minnesota. 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. 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. Ms. Board of Directors: What It Is, What Its Role Is, Incorporation: Definition, How It Works, and Advantages, Audit Committee: Definition, How They're Used, and Purpose, What Is a Proxy Statement? 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. Lead, Columbia University's SIPA Tech & Policy Initiative; . 1 0 obj In January 2020, Environmental Responsibility was added to his role, including the Environment, Health and Safety organization. He was assigned to lead 3Ms $5.5B Electronics & Energy Business Group in July 2017. My new VP is in the company less than 6m and in the position 3m. He returned to the Visual Systems Division before another posting in Italy as a laboratory and project manager. 102 0 obj <> endobj Averages based on self-reported salaries. Zoe joined 3M in 1998, and has held roles of increasing responsibility in human resources across the companys businesses and geographic areas. Know Your Worth. These descriptions are fairly generic. 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. The information shown here is a reporting of information included in the company's proxy statement. "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.". 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. She is married with two teenage children, and enjoys hiking, baking, and exploring the world with her family. 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. 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). Mr. Brown served in various leadership capacities in global purchasing since joining Ford in 1999. Effective April 1, 2019, Ashish was appointed to lead the newly created 3Ms Transportation and Electronics Business Group, with total revenues of approximately $10B. Ms. Lynch has helmed CVS Health since February 2021 and leads more than 300,000 employees, according to a . Throughout Mikes career, he has lived and led businesses around the world, including the United States, Europe and Asia. 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. 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. Erics last role was Group President of Enterprise Operations, where he led global Manufacturing and Supply Chain for 3M, driving end-to-end optimization. AP6D. stream In connection with Ms. Chow and Mr. Pizarro's election, the Board of Directors increased its size from 11 to 13 members. IBM Board of Directors (PAGE 10) Director Nominees IBM's Board is composed of a diverse, experienced group of global Download required. During his assignment as the laboratory head in India, Ashish was responsible for establishing its first product development laboratory and capabilities. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. A board of directors (B of D) is the governing body of a company, elected by shareholders to set strategy and oversee management. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. "People achieve great things when they are embraced and valued; when they are connected, not isolated; and when their intelligence and imagination are unleashed". ", Boston Globe. "Private Company Board Compensation Survey. Explore our Directors and their backgrounds. Dr. Ashish Khandpur is group president of 3Ms Transportation and Electronics Business Group. He retired from Ford on August 1, 2013. For its 2021 fiscal year, 3M CO, listed the following board members on its annual proxy statement to the SEC. Bldg. Look for a gap in expertise that might be left when a current board member steps down. Hood joined Microsoft in 2002, and through her tenure with the company has advanced momentum in cloud and helped digitally transform the company. 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.. Coronavirus Tips Working and Protection, For its 2021 fiscal year, 3M CO, listed the following executives on its annual proxy statement to the SEC. Using 46 technology platforms, our integrated team of scientists and researchers.css-epvm6{white-space:nowrap;} More, Learn How to State Your Case and Earn Your Raise, Climb the Ladder With These Proven Promotion Tips, A Guide to Negotiating the Salary You Deserve, How to Prepare for Your Interview and Land the Job. She previously held executive leadership roles in global merchant sales and acquiring at Visa from 2016 to 2021. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. 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. 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. 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, The median decrease in director compensation was 50% at S&P 500 companies and 40% at Russell 3000 companies. 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 Ms. Kereere is also a longtime champion for equity and inclusion in business and society. 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. He received his J.D., magna cum laude, from Northwestern University; and his B.A. 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. 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. Incorporation is the legal process by which a business entity is formed. Mike and his family enjoy a variety of physical fitness and outdoor activities. 3 0 obj The prevalence of committee member retainers has been stable year-over-year, while the use of committee meeting fees continues to decrease. As a member of Board of Directors at 3M CO, Muhtar Kent made $340,917 in total compensation. 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. endstream endobj 103 0 obj <. Inspired, passionate leaders have the power to transform, Jeff says. degree from Harvard University and a Ph.D. in Economics from the University of Oxford. "Anne has decades of experience in technology and business, and a proven track record of transforming global organizations and community engagement. You can sign up for additional alert options at any time. 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. That's a 43% increase over 10 years. U.S. company directors compensated more than ever, but now risk backlash, Few Hours, Soaring Pay for Corporate Board Members. 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 . That's actually a 5% increase from the year before . Eric serves on the boards of the U.S. Chamber of Commerce, St. Paul & Minnesota Foundation, and National Association of Manufacturing. It begins with actively listening and then relentlessly working to deliver outcomes to solve customer problems, says Monish. 3M CO income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. After submitting your request, you will receive an activation email to the requested email address. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. 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. 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. Personal health and fitness are his passion. 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.". 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. 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. Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. Approximately 94% of companies denominate equity awards as a dollar value rather than as a fixed number of shares. Hornbaker says pay depends on the complexity of the company, whether it's public or private, the number of meetings it entails, and the amount of responsibility involved. He served in that role until 2012, when he became global business director for 3M's Industrial Adhesives and Tapes Division. 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. 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. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Unsurprisingly, the board disagrees with the USW proposal. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. 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. John and his team also oversee 3Ms environmental responsibility efforts, with a focus on advancing environmental stewardship and accelerating 3Ms environmental commitments. 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. 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. 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. He can also be found running, antiquing, reading science fiction and spending time with his family. Ms. Chow is on the board of the following public company in addition to 3M: FranklinCovey. Why Investors Should Look at the Proxy Statement, Disney Names New Chair, Eases Park Rules Amid Proxy Battle. 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. For him, that comes down to business/market analysis and team success. View original content to download multimedia:https://www.prnewswire.com/news-releases/anne-chow-and-pedro-pizarro-elected-to-3m-board-of-directors-301741429.html. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Serving on a corporate board of directors can be a lucrative side gig or second career for high-profile executives and recent retirees. 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. Zoe is a chartered member of Chartered Institute of Personnel & Development. Before joining the Edison International companies, Mr. Pizarro was a senior engagement manager with McKinsey & Company. 3M shareholders today elected 11 directors for one-year terms that expire at the company's 2021 Annual Meeting: Thomas "Tony" K. Brown, retired group vice president, Global Purchasing, Ford Motor Company Pamela J. Craig, retired chief financial officer, Accenture plc David B. Dillon, retired chairman of the board and CEO, The Kroger Co. Our household income is $240k and have $400k for down payment after selling all stocks. In 2018, he was inducted into the Intellectual Property Hall of Fame by the IP Hall of Fame Academy. You can sometimes learn what companies seek in their board members by reading the companys annual proxy statement.

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