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. Monish is a certified chartered accountant and a certified cost accountant from the Institute of Cost and Works Accountants of India. endobj CleanLink News. She currently serves as Lead Director on the Board of Directors for FranklinCovey and as Adjunct Professor of Executive Education at the Kellogg School of Management, Northwestern University. <> 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. 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. This post is based on their FW Cook memorandum. Dr. Moyo earned a bachelors degree in chemistry and MBA degree in Business Administration from American University, an M.P.A. 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). The Company assumes no obligation to update or revise any forward-looking statements. Mr. Learn how we're working to improve lives and make what's next at 3M.com/newsor on Twitter at@3Mor@3MNews. Ms. Kereere has over 20 years of experience leading global businesses around the world, including in Europe, Australia, Asia and North America. Mr. Roman is on the board of the following organizations in addition to 3M: Abbott Laboratories, University of Minnesota Foundation Board of Trustees. A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. Non-employee directors also get every new Apple product for free on request and can purchase more at a discount. Retired Chairman of the Board and Chief Executive Officer, Cargill, Chairman of the Board and Chief Executive Officer, Caution Concerning Forward-Looking Statements, SDS, RDS, More Regulatory & Compliance Information. Over the years, he has held various positions of increasing responsibility in corporate research and division labs. Dr. Moyo was Chief Executive of Officer of Mildstorm LLC, a financial and economics firm, from 2015 to 2021. For nine straight years, 3M has been recognized by Ethisphere as one of the Worlds Most Ethical Companies. Bldg. The median compensation for members of private company boards of directors was $44,850 in 2021, according to a global study by Lodestone Global. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. 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. A decades-long career at 3M can span a diverse range of businesses, market segments and geographies, Mike says. Mr. Pizarro earned his bachelor's degree in chemistry from Harvard University and his Ph.D. in chemistry from the California Institute of Technology. Most recently he served as CFO of GE Healthcare. 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 . As a CTO, Ashish led the global 3M team of over 8,000 scientists and engineers. 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. Another example would be compensation meetings to discuss compensation plans and awards.. 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 . 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 joined 3M in October 2021 as executive vice president and chief information & digital officer, helping lead the digital transformation of the $32 billion science-based company. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. 123 0 obj <>stream 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. Ashish has been with the company for more than 26 years. 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. 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. As a member of Board of Directors at 3M CO , Thomas made $320,487 in total compensation. "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.". 10 S. Dearborn St., 54th Floor. By learning about the backgrounds of existing board members, you can extrapolate what they may be looking for in new ones. 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. 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 . Coronavirus Tips Working and Protection, For its 2021 fiscal year, 3M CO, listed the following executives on its annual proxy statement to the SEC. 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 (subject to ratification by the independent directors of the Board) the compensation for Ashish has a strong technical background and has authored 10 patents. She previously held executive leadership roles in global merchant sales and acquiring at Visa from 2016 to 2021. After submitting your request, you will receive an activation email to the requested email address. As vice president of operational transformation, he led the companys transformation initiatives driving operating rigor and lean management across the company. In January 2020, Environmental Responsibility was added to his role, including the Environment, Health and Safety organization. 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. Description 3M Co. 3M Co. is a technology company, which manufactures industrial, safety, and consumer products. 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. 6 yrs at my current company. Michael Ferrante and Connor Damon are consultants at FW Cook. The estimated total pay for a Director at 3M is $345,577 per year. stream 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. 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 . Kevin and his wife Melinda have three adult children. Amy Fontinelle has more than 15 years of experience covering personal finance, corporate finance and investing. 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. Zoe joined 3M in 1998, and has held roles of increasing responsibility in human resources across the companys businesses and geographic areas. 3M is advancing diversity, equity and inclusion with a pledge to double its representation of underrepresented groups, along with new initiatives to strengthen STEM education. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Inspired, passionate leaders have the power to transform, Jeff says. Formal board meetings where all the directors are present typically occur four to six times per year, depending on the company. That year's top payer was Goldman Sachs Group Inc., which paid its directors an average of $599,279. Unsurprisingly, the board disagrees with the USW proposal. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. 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. He leads a team that, among other things, helps to keep the world connected by improving efficiency in electronic devices and data centers, enables e-mobility, and advances transportation and its safety. Dr. Ashish Khandpur is group president of 3Ms Transportation and Electronics Business Group. 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%). % The Boston Globe reports that the average time commitment to serve on a board is fewer than five hours per week. Know Your Worth. 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? 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. I have been trying to get a review ever since and no one will say what is going on. Jeff Lavers is the group president of 3Ms Consumer Business Group. Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. Posted by Michael Ferrante and Connor Damon, FW Cook, on, Harvard Law School Forum on Corporate Governance, Prevalence of annual limits on director compensation remains high, with equity-only limits continuing to be the most common approach, though use of total compensation limits. 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. Ownership guidelines are typically enforced via a years-to-achieve rule (66% prevalence), a retention/holding requirement (11% prevalence), or a combination of the two (23% prevalence). Make sure your resume states what you will specifically bring to the table as a board member.. 3Ms culture brings together passionate people with purpose and strategy to solve some of the worlds toughest challenges.. John has a Ph.D. in inorganic chemistry from Stanford University, and a bachelors degree in chemistry from Hamline University. Kevin Rhodes is Executive Vice President and Chief Legal Affairs Officer, overseeing legal, compliance, government affairs and global security matters for 3M. Approximately 94% of companies denominate equity awards as a dollar value rather than as a fixed number of shares. Mr. Dillon is on the board of the following public company in addition to 3M: Union Pacific Corporation. Really nervous. ", Reuters. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Explore our Directors and their backgrounds. They range from recent retirees and people nearing retirement to younger people who've experienced early successes in business. Head of Global Business Solutions, Fiserv, Inc., a leading fintech and payments company. "Anne has decades of experience in technology and business, and a proven track record of transforming global organizations and community engagement. His team supports the success of the 3M Operating Model, ensuring strong customer and employee engagement globally, protecting the reputation of 3M, providing world global services, while driving the companys workplace transformation strategy. 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. Executive search firms can streamline the process since theyll know about available positions. The Board is mainly comprised of outside, independent directors. Retired Chairman of the Board and Chief Executive Officer, United Parcel Service, Inc. Executive Vice President and Chief Financial Officer, Microsoft Corporation, Retired Chairman of the Board and Chief Executive Officer, The Coca-Cola Company. The estimated base pay is $176,111 per year. As executive vice president and chief human resources officer, Zoe Dickson leads 3Ms transformative agenda for people and culture. She is deeply involved in the companys operations, as well as the strategy development and overall execution of the companys successful acquisitions of LinkedIn and GitHub. Home to some of 3Ms most iconic brands, this business serves global consumers and consists of construction and home improvement, stationery and office supplies, home care, and consumer health care. 3M Investor Relations Department She has been married more than 20 years, with two teenage kids. (2005-2013) (alternate member of the Board of Directors, (1999 to 2005)) Previous experience. IBM Board of Directors (PAGE 10) Director Nominees IBM's Board is composed of a diverse, experienced group of global hbbd``b`$fH0@= , VDtbc a`$2012| Ms. Kereere is also a longtime champion for equity and inclusion in business and society. This would be in addition to the peer group benchmarks (what other CEOs make) that the company uses to determine CEO compensation. 224-1W-02 At 3M, we promise to treat your data with respect and will not share your information with any third party. 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. In this role, Kevin led ongoing efforts during the COVID-19 pandemic to combat fraud, counterfeiting, and price gouging of N95 respirators. Mr. Anderson served without compensation as the President and Chief Executive Officer of Amtrak, an intercity passenger rail service provider, from July 2017 until his retirement on April 15, 2020. . Obviously, if there is a crisis or a strategic issuefor example, an acquisitionthe number of hours for a director can dramatically increase, Rogers says. Chairman and Chief Executive Officer of Dow, Inc., a leading global materials science company. You may also find the annual proxy statement by going directly to the company's website. "We are very pleased to further strengthen 3M's board with two highly accomplished, world-class leaders," said 3M chairman and CEO Mike Roman. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. endstream endobj 103 0 obj <. Kereere has over 20 years of experience in leading global . You'll want to pursue networking both online and offline. 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 . 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. You must click the activation link in order to complete your subscription. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Over the years, his career with 3M has sent him abroad four times for varied roles, including research chemist, manufacturing director and general manager. 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. Jeff has lived and worked internationally for 3M, and always with a great passion on exceeding customer expectations. Kereere currently serves as head of global business solutions for Fiserv Inc. She has more than 20 years of international business leadership experience, previously working in executive leadership positions with such companies as Visa and American Express before joining Fiserv. 3M CO annual reports of executive compensation and pay are most commonly found in the Def 14a documents. The Company assumes no obligation to update or revise any forward-looking statements. 2 0 obj An audit committee is the part of a company's board of directors in charge financial reporting and disclosure. 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. investorrelations@3M.com. Retired, Chief Executive Officer of AT&T Business, an organization that provided a full suite of business services across wireless, networking, cybersecurity, and advanced solutions, serving nearly 3 million business customers in more than 200 countries and territories around the world. Sleep, Mike jokes, though he will say more seriously that he tries to focus his energies where they will do the most good. Help make it more accurate by adding yours. Retired Chairman of the Board and Chief Executive Officer, United Parcel Service, Inc., a provider of specialized transportation and logistics services. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. 3M(NYSE: MMM) believes science helps create a brighter world for everyone. For its 2021 fiscal year, 3M CO, listed the following CEO pay ratio data on its annual proxy statement to the SEC. The companys financial objectives include continuing to grow above the markets it serves, expand margins and generate strong cash flow. Karina led strategic planning for the companys international operations and served as managing director for 3M Indonesia. The report recommended that companies start compensating board directors with cash and equity. Fixed retainers remain more prevalent than meeting fees as the means to deliver additional compensation. Mike became chairman of the board in May 2019 and chief executive officer in July 2018. 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. 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. Mr. Pizarro served as president of SCE from 2014 to 2016. periodically receive reports on the status of Board compensation in relation to other large U.S. companies and is responsible for recommending to . You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. As a member of Board of Directors at 3M CO, Muhtar Kent made $340,917 in total compensation. All proxy statements are public filings made available to the general public by the SEC. He served in that role until 2012, when he became global business director for 3M's Industrial Adhesives and Tapes Division. Deloitte. Average compensation in 2018 at those firms was $304,856, according to Reuters. He is a member of the Marketing Leadership Council and serves on several non-profit and community boards. Country Governance and Services comprises Global Country Leadership, the Workplace Group, Global Service Centers, and 3Ms Emerging Markets. 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. 3M has increased its dividend for 64 straight years. After spending almost two years with Aearo integrating it into 3M, Mike became managing director of 3M Brazil in 2009. 3 0 obj In recent years, companies have also begun to seek ethnic and gender diversity on their boards. 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. You can sometimes learn what companies seek in their board members by reading the companys annual proxy statement. If youre interested in pursuing a board seat, heres what you need to know about what boards are looking for, how to get noticed, and what to expect as compensation. Chicago, IL 60603. 224-1W-02 St. Paul, MN 55144-1000 Tel: (651) 737-6523 investorrelations@3M.com Three years later, he was tapped to lead 3Ms corporate research lab. How accurate is this most likely Total Pay range (base + additional) of $270K-$455K/yr? Lead directors are also almost always provided with additional compensation, ranging from approximately $20,000 to $35,000 at the median across all size and sector groups. Averages based on self-reported salaries. 3M Investor Relations Department Mr. Brown served in various leadership capacities in global purchasing since joining Ford in 1999. President Joe Biden intends to name Karen Lynch, CEO of CVS Health, to his Export Council. As a member of Board of Directors at 3M CO , Vance D. Coffman made $107,459 in total compensation. 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 .