3m board of directors compensation

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. Dr. Ashish Khandpur is group president of 3Ms Transportation and Electronics Business Group. 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. Boards aren't entirely made up of retirees and people nearing the end of their careers. %%EOF degree from Harvard University and a Ph.D. in Economics from the University of Oxford. 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. They also recommended doing away with pension and . The information on this website, including any documents posted herein, contains a significant amount of information about 3M. Executive search firms can streamline the process since theyll know about available positions. "We are very pleased to further strengthen 3M's board with two highly accomplished, world-class leaders," said 3M chairman and CEO Mike Roman. Before joining the Edison International companies, Mr. Pizarro was a senior engagement manager with McKinsey & Company. I have been trying to get a review ever since and no one will say what is going on. In connection with Ms. Chow and Mr. Pizarro's election, the Board of Directors increased its size from 11 to 13 members. Help make it more accurate by, Get started with your Free Employer Profile, average salary for a Director is $129,368 per year in United States, The Ultimate Job Interview Preparation Guide. Hornbaker suggests giving your resume to search firms youve dealt with in the past and letting them know you're interested in obtaining a board position. Prior to joining 3M in 2001, Kevin was a partner at Kirkland & Ellis in Chicago. 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. He oversaw annual R&D investments of nearly $2 billion, while building 3Ms digital capabilities and bringing the companys technology expertise even closer to customers around the world. 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. 3M Company Board of Directors Compensation Committee Charter (As Affirmed February 5, 2019) A. The 3M board of directors is mostly composed of former CEOs. <> Kereere has over 20 years of experience in leading global . John has a Ph.D. in inorganic chemistry from Stanford University, and a bachelors degree in chemistry from Hamline University. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. I am starting to look elsewhere but I have great WFH life now. 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 They range from recent retirees and people nearing retirement to younger people who've experienced early successes in business. 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. "Definitive Proxy Statement, Apple 2021. He served in that role until 2012, when he became global business director for 3Ms Industrial Adhesives and Tapes Division. 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. 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. If you experience any issues with this process, please contact us for further assistance. Page is on the board of the following public companies in addition to 3M: Eaton Corporation, Deere & Company. About3M Mr. Kent is a member of the board and past Co-Chair of The Consumer Goods Forum and past Chairman of the International Business Council of the World Economic Forum. 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. U.S. company directors compensated more than ever, but now risk backlash, Few Hours, Soaring Pay for Corporate Board Members. Head of Global Business Solutions, Fiserv, Inc., a leading fintech and payments company. At 3M, we promise to treat your data with respect and will not share your information with any third party. 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. 3M has added Suzan Kereere to its board of directors. Outside of work he enjoys reading, following college sports and spending time with his family. To find out what any publicly held company pays its board members, read the companys annual proxystatement, available from its corporate website or the Securities and Exchange Commission website. Make sure your resume states what you will specifically bring to the table as a board member.. 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. 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 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. This report is not for commercial use. 3M CO income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. Prior to 3M, Monish spent 26 years at GE where he held a variety of roles of increasing responsibility across GEs businesses. Hornbaker says attending committee meetings might be another responsibility. He earned a bachelors degree from St. Josephs College of Commerce in Bangalore, India. Its about supporting constant iteration, until a point you make yourself obsolete.. As executive vice president and chief human resources officer, Zoe Dickson leads 3Ms transformative agenda for people and culture. John and his team also oversee 3Ms environmental responsibility efforts, with a focus on advancing environmental stewardship and accelerating 3Ms environmental commitments. He was elected to the Cargill Board of Directors in 2000 and elected Chairman of the Board in 2007. He led 3Ms International Finance organization, and also served four years as 3Ms Senior Vice President of FP&A and Chief Accounting Officer. Walmart. 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. Amy Fontinelle has more than 15 years of experience covering personal finance, corporate finance and investing. 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. 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. (2005-2013) (alternate member of the Board of Directors, (1999 to 2005)) Previous experience. Retired Chairman of the Board and Chief Executive Officer, United Parcel Service, Inc., a provider of specialized transportation and logistics services. She has lived and worked around the world for 3M, including in Asia Pacific, Europe and the United States. Mr. Pizarro is a member of Edison International's Board of Directors. That's actually a 5% increase from the year before. "I believe that building confidence and removing the fear of failure are key components of leadership," says Peter. Dr. Moyo was Chief Executive of Officer of Mildstorm LLC, a financial and economics firm, from 2015 to 2021. Incorporation is the legal process by which a business entity is formed. Board membership is less stressful and time-consuming than earlier positions board members have taken on, while still offering an impressive income. 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. Ms. Kereere is also a longtime champion for equity and inclusion in business and society. 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. 3M announced that Suzan Kereere, head of Global Business Solutions at Fiserv, Inc., has been elected to 3M's Board of Directors, effective Feb. 10, 2022. 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. 224-1W-02 0 You may also find the annual proxy statement by going directly to the company's website. Formal board meetings where all the directors are present typically occur four to six times per year, depending on the company. Mr. Pizarro is on the board of the following public company in addition to 3M: Edison International. 3M provides a match up to a certain percent, 3M is a global science company that never stops inventing. Apples non-employee directors each receive approximately $250,000 worth of restricted stock units per year, which are granted at the annual shareholder meeting and vest on Feb. 1 of the following year. This would be in addition to the peer group benchmarks (what other CEOs make) that the company uses to determine CEO compensation. From January 2006 through December 2006, Mr. Kent served as President of Coca-Cola International. We also reference original research from other reputable publishers where appropriate. %PDF-1.7 Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? Mr. Eskew was appointed Executive Vice President in 1999 and Vice Chairman in 2000 before becoming Chairman of the Board and Chief Executive Officer of UPS in January 2002. 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 . He retired as Chairman of the Board and Chief Executive Officer at the end of 2007 but remained as a director of UPS until December 31, 2014. U.S. Securities and Exchange Commission. 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 . That's a 43% increase over 10 years. 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. 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. It begins with actively listening and then relentlessly working to deliver outcomes to solve customer problems, says Monish. 1 0 obj The brands listed above are trademarks of 3M. He previously had led 3Ms Digital Transformation, one of the companys three value creation levers. 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). 10 S. Dearborn St., 54th Floor. 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. Erics last role was Group President of Enterprise Operations, where he led global Manufacturing and Supply Chain for 3M, driving end-to-end optimization. Shareholders can communicate with the Chairman of the Corporate Governance Committee or with the independent directors as a group by writing to them c/o: Gayle Littleton, Executive Vice President, General Counsel. 224-1W-02 Explore our Directors and their backgrounds. 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. President Joe Biden intends to name Karen Lynch, CEO of CVS Health, to his Export Council. You can sign up for additional alert options at any time. For him, that comes down to business/market analysis and team success. The most common director ownership guideline is 5x the annual cash retainer with a 5-year timeframe to meet the guideline.

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