3m board of directors compensation

Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? 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. The companys financial objectives include continuing to grow above the markets it serves, expand margins and generate strong cash flow. 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. 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. Outside of work, Monish enjoys reading, music, watching cricket, playing tennis or badminton and spending time with his family. Hood joined Microsoft in 2002, and through her tenure with the company has advanced momentum in cloud and helped digitally transform the company. In 2017 she was named global business director for 3Ms home improvement business, until 2020 when she became senior vice president for customer operations. 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. Throughout his career he has led large technology transformations including SAP implementations, digital initiatives and cybersecurity. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. After spending almost two years with Aearo integrating it into 3M, Mike became managing director of 3M Brazil in 2009. St. Paul, MN 55144-1000 So what does he do when hes not in the office? Chairman and Chief Executive Officer of Dow, Inc., a leading global materials science company. 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. 224-1W-02 They also recommended doing away with pension and . 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. He previously served as chief operating officer, led 3Ms largest business group and was chief strategist. 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. A leadership position had been created to advance more of the companys equity initiatives and they wanted to know if he would like to be considered. Chicago, IL 60603. stream "Definitive Proxy Statement, Apple 2021. Investopedia does not include all offers available in the marketplace. 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. Mr. Pizarro earned his bachelor's degree in chemistry from Harvard University and his Ph.D. in chemistry from the California Institute of Technology. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. He previously had led 3Ms Digital Transformation, one of the companys three value creation levers. Ferguson & Co, a former KPMG affiliate. 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. As a former Big, Mike is a long-time supporter of Big Brothers Big Sisters of America. 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 . On Fishbowl, you can share insights and advice anonymously with 3M employees and get real answers from people on the inside. Once you find a good prospect, you must be nominated by the nomination committee, then approved by shareholder election. 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. Look for a gap in expertise that might be left when a current board member steps down. For the past eight years, Ms. Higher-paying sectors tend to place a greater weighting on equity; Energy and Technology companies have the most equity-heavy mix while Financial Services organizations have the least. I am extremely thankful for the company and leaders I work for at 3M, Eric says. These include white papers, government data, original reporting, and interviews with industry experts. Similar to last year, 63% of companies provide additional compensation to committee members. Approximately 94% of companies denominate equity awards as a dollar value rather than as a fixed number of shares. The company is strengthening environmental stewardship with a $1 billion commitment to achieve carbon neutrality, reduce water use, improve water quality and reduce its use of plastics. She also worked at the World Bank in Washington, D.C. from 1993 to 1995. IBM Board of Directors (PAGE 10) Director Nominees IBM's Board is composed of a diverse, experienced group of global Retired Chairman of the Board and Chief Executive Officer The Kroger Co., a large retailer that operates retail food and drug stores, multi-department stores, jewelry stores, and convenience stores throughout the U.S. Mr. Dillon retired as Krogers Chairman of the Board on December 31, 2014, where he was Chairman of the Board since 2004 and was the Chief Executive Officer from 2003 through 2013. hbbd``b`$fH0@= , VDtbc a`$2012| Investopedia requires writers to use primary sources to support their work. Corporate boards are made up of highly successful executive outsiders. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. Dr. Moyo earned a bachelors degree in chemistry and MBA degree in Business Administration from American University, an M.P.A. 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 . Get a free, personalized salary estimate based on today's job market. 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. 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. 123 0 obj <>stream 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. Mike became chairman of the board in May 2019 and chief executive officer in July 2018. As executive vice president and chief human resources officer, Zoe Dickson leads 3Ms transformative agenda for people and culture. The estimated total pay for a Director at 3M is $345,577 per year. During his assignment as the laboratory head in India, Ashish was responsible for establishing its first product development laboratory and capabilities. Retired Chairman of the Board and Chief Executive Officer, The Kroger Co. The Boston Globe reports that the average time commitment to serve on a board is fewer than five hours per week. He previously led the construction and home improvement business, and the companys corporate marketing and sales organization. Inspired, passionate leaders have the power to transform, Jeff says. hb```e``3,00```T~s@@(` 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. periodically receive reports on the status of Board compensation in relation to other large U.S. companies and is responsible for recommending to . 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 . Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor tax expert. Head of Global Business Solutions, Fiserv, Inc., a leading fintech and payments company. 3M Investor Relations Department 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. ", Boston Globe. Bldg. Zoe joined 3M in 1998, and has held roles of increasing responsibility in human resources across the companys businesses and geographic areas. During his leadership, this business was transformed through a thorough portfolio prioritization and diversification in fast growth segments, becoming a strong contributor to the company results. She earned her degree in manufacturing engineering from Brunel University London, and diploma in personnel management from Thames Valley University. The Board is mainly comprised of outside, independent directors. This post is based on their FW Cook memorandum. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. endstream endobj startxref His growth mindset, inclusive leadership, and orientation toward developing talent and culture has helped him lead highly successful complex changes and significant transformation. 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. "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.". 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. 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. Prior to her current role, she served as senior vice president of Talent, Learning and Insights. 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. He received his J.D., magna cum laude, from Northwestern University; and his B.A. Retired Chairman of the Board and Chief Executive Officer, The Coca-Cola Company, the worlds largest beverage company. Prior to 3M, Mark served as Chief Information Officer for Abbott Laboratories where he had global responsibilities for Abbotts technology landscape. 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. At 3M, we promise to treat your data with respect and will not share your information with any third party. Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. Mike joined the company in 1992, shortly after earning a Ph.D. in chemistry from M.I.T. Only outside directors get compensation specifically for serving on the board. The brands listed above are trademarks of 3M. 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. Mr. Roman served as Chief Executive Officer of 3M Company from July 2018 to May 2019. The most common director ownership guideline is 5x the annual cash retainer with a 5-year timeframe to meet the guideline. 3M Investor Relations Department CleanLink News. You can sign up for additional alert options at any time. "3M is a globally diverse company in so many dimensions," Ashish says. 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 He led 3Ms International Finance organization, and also served four years as 3Ms Senior Vice President of FP&A and Chief Accounting Officer. The proxy statement also says the company isseekingexpertise in governance, strategy, development, and execution; people who understand financial, operational and strategic issues facing large retail companies; global or international business experience; technology and e-commerce experience; marketing, brand management or public relations experience; finance, accounting, or financial reporting experience; or regulatory or legal experience. News & Views 2/17/2022 3M Adds To Board Of Directors. Kevin Rhodes is Executive Vice President and Chief Legal Affairs Officer, overseeing legal, compliance, government affairs and global security matters for 3M. from Grinnell College. You may also find the annual proxy statement by going directly to the company's website. 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: the large-cap median increased 1.6% to $290,000, the mid-cap median increased 1.7% to $216,950, and the small-cap median increased 5.1% to $163,500. Eric serves on the boards of the U.S. Chamber of Commerce, St. Paul & Minnesota Foundation, and National Association of Manufacturing. Its that excitement, mixed with his incredible passion and leadership, that has led to some of 3Ms biggest equitable actions in the past year. Executive Vice President and Chief Financial Officer of Microsoft Corporation, a global technology company. Average compensation in 2018 at those firms was $304,856, according to Reuters. 3M (NYSE: MMM) announced today that Anne H. Chow, retired chief executive officer of ATT 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. Anne Chow's career in the technology and business sectors spans over three decades. 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, Director Compensation Practices offers a comprehensive set of benchmarking data and analysis needed to inform the board pay design process. 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. For him, that comes down to business/market analysis and team success. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. He holds a bachelors degree in Physics from University of Edinburgh and a masters degree in Business Administration from Strathclyde Business School in Glasgow, Scotland. It begins with actively listening and then relentlessly working to deliver outcomes to solve customer problems, says Monish. St. Paul, MN 55144-1000 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). Leaders serve by creating an inclusive environment which values diverse perspectives, teamwork and innovation. 3M Expands Board of Directors February 14, 2022. 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. He joined 3M in 1987 as a health care sales representative. 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. Complement your online networking with face-to-face connections at events, conferences, and social gatherings, he says. Prior to 3M, Peter served as chief executive officer of TireHub, a joint venture last mile distributor between Bridgestone and Goodyear. Mr. Brown served in various leadership capacities in global purchasing since joining Ford in 1999. 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 In his free time, Kevin enjoys travel, outdoor activities including fishing, hiking and gardening, and spending time with his family. In his spare time, he dedicates himself to being a loving husband and father and growing his family. 3M CO income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Bldg. I feel blessed and give everything I have to leave 3M in a better place, every day.. 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.

3m board of directors compensation 2023