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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. To effectively drive growth, it is important to keep the customer at the center of everything we do. We believe that good corporate governance serves the long-term interests of stockholders, strengthens the Board and management, and further enhances the public trust 3M has earned from more than a century of operating with uncompromising integrity and doing business the right way. With more than 25 years of extensive experience leading the financial operations of industrial and healthcare businesses, Monish Patolawala, 3Ms executive vice president and chief financial and transformation officer, understands what it takes to drive profitable growth in an ever-changing environment. John came to 3M in 1995 as a research chemist in the corporate R&D organization, working primarily on acrylic adhesives and tapes. You'll want to pursue networking both online and offline. Eric Hammes is 3Ms executive vice president, chief country governance and services officer. 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. 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. Tel: (651) 737-6523 investorrelations@3M.com. 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. You must click the activation link in order to complete your subscription. Its members include current board members, aspiring board members, and corporations looking to hire board members. Leadership is about serving more than yourself, he says. The more qualifications you can bring to the table, the better. endobj The average salary for a Director is $129,368 per year in United States, which is 62% lower than the average 3M salary of $346,118 per year for this job. Get a free, personalized salary estimate based on today's job market. St. Paul, MN 55144-1000 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. 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). c/o Abbott Corporate Secretary. In recent years, companies have also begun to seek ethnic and gender diversity on their boards. Dr. Ashish Khandpur is group president of 3Ms Transportation and Electronics Business Group. Know Your Worth. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Hood is responsible for leading the companys worldwide finance organization, including business operations, acquisitions, treasury, tax planning, global real estate, accounting and reporting, internal audit and investor relations. 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. 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. 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. Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. 102 0 obj <> endobj 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 . 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? Fixed retainers remain more prevalent than meeting fees as the means to deliver additional compensation. He returned to the Visual Systems Division before another posting in Italy as a laboratory and project manager. He served as Coca-Colas Chief Executive Officer from July 2008 to April 2017. In connection with Ms. Chow and Mr. Pizarro's election, the Board of Directors increased its size from 11 to 13 members. 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. So what does he do when hes not in the office? 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. 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. She is co-principal of Versaca Investments, a family office focused on growth investing globally she co-founded in 2021. Inside directors, who are mostly C-suite level executives, don't receive additional compensation. He is a member of the Marketing Leadership Council and serves on several non-profit and community boards. Sales Compensation Trends Revealed in New Survey. Retired Chief Financial Officer, Accenture plc., a global management consulting, technology services and outsourcing company. The estimated total pay for a Director at 3M is $346,118 per year. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. 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. He served in that role until 2012, when he became global business director for 3M's Industrial Adhesives and Tapes Division. 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. You can learn more about the standards we follow in producing accurate, unbiased content in our. 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 . These descriptions are fairly generic. Your strategy to get noticed and be considered for board membership should be similar to the strategy it takes to secure any high-level position. In connection with Ms. Kereere's election, the Board of Directors . 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. 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. He then led Research & Development for the formerly Industrial Business Group initially in Asia Pacific and later globally. 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. Similar to last year, 63% of companies provide additional compensation to committee members. Ms. 3M CO annual reports of executive compensation and pay are most commonly found in the Def 14a documents. In his spare time, he dedicates himself to being a loving husband and father and growing his family. The Company assumes no obligation to update or revise any forward-looking statements. 3 0 obj Ms. Lynch has helmed CVS Health since February 2021 and leads more than 300,000 employees, according to a . 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? Dr. Moyo served as Global Economist & Capital Markets at Goldman Sachs from 2001 to 2008. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Aptiv PLC (Compensation and Human Resources, and Nominating and Governance committees) Additional Positions. Country Governance and Services comprises Global Country Leadership, the Workplace Group, Global Service Centers, and 3Ms Emerging Markets. As a member of Board of Directors at 3M CO, Muhtar Kent made $340,917 in total compensation. 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, This would be in addition to the peer group benchmarks (what other CEOs make) that the company uses to determine CEO compensation. 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. As executive vice president and chief human resources officer, Zoe Dickson leads 3Ms transformative agenda for people and culture. Engage in conversations about Director pay with other professionals in the community. He received his J.D., magna cum laude, from Northwestern University; and his B.A. The estimated additional pay is $170,007 per year. 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 approves the compensation for the CEO and other senior executives, . I have been trying to get a review ever since and no one will say what is going on. You must click the activation link in order to complete your subscription. 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. 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. 3M CO income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. 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. 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. At 3M, we promise to treat your data with respect and will not share your information with any third party. The following chart summarizes total non-employee director pay levels and market capitalizations of the 300 companies in our study (100 companies in each size grouping): The complete publication is available here. Outside of work, Karina is an experience seeker, avid traveler and food lover who enjoys dancing and yoga. In January 2020, Environmental Responsibility was added to his role, including the Environment, Health and Safety organization. You must click the activation link in order to complete your subscription. Coronavirus Tips Working and Protection, For its 2021 fiscal year, 3M CO, listed the following executives on its annual proxy statement to the SEC. He has held a wide range of other senior executive positions at the Edison International companies since joining in 1999. 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. Executive Vice President and Chief Financial Officer of Microsoft Corporation, a global technology company. 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 . The information on this website, including any documents posted herein, contains a significant amount of information about 3M. That year's top payer was Goldman Sachs Group Inc., which paid its directors an average of $599,279. Edison International is also the parent company of Edison Energy, a portfolio of competitive businesses providing commercial and industrial customers with energy management and procurement services. Director compensation structure remains consistent with prior years, with an average mix of 57% equity and 43% cash across the entire sample. This is an opportunity for us to shape what were going to be for the next 100 years., We need to act with purpose: One 3Mer's passion is shaping 3M's approach to addressing equity in STEM, Averages based on self-reported salaries. President and CEO, Edison International, the parent company of Southern California Edison (SCE), one of the nations largest electric utilities, since 2016. endstream endobj startxref 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, MN 55144-1000 "2020 Proxy Statement," Page 12. Bldg. Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? At 3M, we promise to treat your data with respect and will not share your information with any third party. Make sure you develop a board resume that positions you as qualified for the corporations board, says Rene Hornbaker, who currently serves on the boards of Eastman Chemical Company, The Freeman Company, and Tri Global Energy. 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.". 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. Mr. Fitterling is also a passionate advocate for inclusion and diversity with a focus on diversifying Dows global talent, enhancing innovation and the customer experience, and strengthening relationships in the communities the company serves. 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. View SAI KRISHNA.docx from STAT 5561 at University of Missouri, Kansas City. Mr. Pizarro is a member of Edison International's Board of Directors. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Outside of work, Monish enjoys reading, music, watching cricket, playing tennis or badminton and spending time with his family. 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. The estimated additional pay is $169,271 per year. Prior to that, Mr. Roman served as Executive Vice President and Chief Operating Officer of 3M Company from July 2017 to June 2018, Executive Vice President of 3Ms Industrial Business from May 2014 to June 2017, and Senior Vice President of Business Development from May 2013 to May 2014, with responsibility for 3Ms strategic roadmap. 3M shareholders today elected 11 directors for one-year terms that expire at the company's 2021 Annual Meeting: Thomas "Tony" K. Brown, retired group vice president, Global Purchasing, Ford Motor Company Pamela J. Craig, retired chief financial officer, Accenture plc David B. Dillon, retired chairman of the board and CEO, The Kroger Co. Mark Murphy has more than two decades of experience developing and leading global technology organizations across multiple industries including healthcare, medical device, retail and financial services. He was a senior research chemist in the Visual Systems Division before joining 3M Italy as a product development engineer. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. 3M Investor Relations Department We continue to observe an increasing number of women on Boards: 94% of companies in the study have at least one woman on the Board (90% last year), 59% of large-cap companies have three or more women on the Board (50% last year) and 25% of both mid-cap and small-cap companies have three or more female members (22% and 13% last year, respectively). President Joe Biden intends to name Karen Lynch, CEO of CVS Health, to his Export Council. [Br*L7r/Nv&rrzDGx0V:o,eIY^'(O >vXT cct"o3jvYEfp.w$}0BirMZIHI6M)9z?eOtp'pON{~YN>=mCs:a'heTb\G. Ms. Kereere has over 20 years of experience leading global businesses around the world, including in Europe, Australia, Asia and North America. You will compete for board positions with people who have been extremely successful at a young age. 3M Investor Relations Department He previously worked at St. Jude Medical for more than 15 years, holding multiple technology roles of increasing responsibility. Karina led strategic planning for the companys international operations and served as managing director for 3M Indonesia. 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. The Boston Globe reports that the average time commitment to serve on a board is fewer than five hours per week. The charts on this page feature a breakdown of the total annual pay for the top executives at 3M CO as reported in their proxy statements. 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. During his assignment as the laboratory head in India, Ashish was responsible for establishing its first product development laboratory and capabilities.
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