It goes a lot higher from there. She is co-principal of Versaca Investments, a family office focused on growth investing globally she co-founded in 2021. He previously worked at St. Jude Medical for more than 15 years, holding multiple technology roles of increasing responsibility. He can also be found running, antiquing, reading science fiction and spending time with his family. Kevin is a champion for diversity and inclusion in the legal profession, growing talent and serving communities. periodically receive reports on the status of Board compensation in relation to other large U.S. companies and is responsible for recommending to . 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. 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. Lead, Columbia University's SIPA Tech & Policy Initiative; . My new VP is in the company less than 6m and in the position 3m. After submitting your request, you will receive an activation email to the requested email address. Country Governance and Services comprises Global Country Leadership, the Workplace Group, Global Service Centers, and 3Ms Emerging Markets. Dr. Moyo is a global economist and author who analyzes the macroeconomy and international affairs. Outside of work, Peter enjoys hiking, reading, and supporting the Glasgow Celtic soccer club and serves on the boards of CP Kelco and the Jesuit School of Theology of Santa Clara University. This is a defining time for all companies and 3M is no different in that respect, Scott said. The most common director ownership guideline is 5x the annual cash retainer with a 5-year timeframe to meet the guideline. Bldg. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. The prevalence of committee member retainers has been stable year-over-year, while the use of committee meeting fees continues to decrease. In recent years, companies have also begun to seek ethnic and gender diversity on their boards. "People achieve great things when they are embraced and valued; when they are connected, not isolated; and when their intelligence and imagination are unleashed". Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. 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 is on the board of the following organizations in addition to 3M: Abbott Laboratories, University of Minnesota Foundation Board of Trustees. After submitting your request, you will receive an activation email to the requested email address. You must click the activation link in order to complete your subscription. News & Views 2/17/2022 3M Adds To Board Of Directors. Explore our Directors and their backgrounds. Approximately 90% of companies in the sample grant full-value stock awards exclusively (i.e., no stock options). 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 A proxy statement is a document the SEC requires companies to provide shareholders that includes information needed to make decisions at shareholder meetings. Ms. Kereere served in leadership positions at American Express from 1988 to 2016, including as head of its U.S. National Merchant Business and Global Network Business. The estimated total pay for a Director at 3M is $345,577 per year. endobj He has held a wide range of other senior executive positions at the Edison International companies since joining in 1999. Executive search firms can streamline the process since theyll know about available positions. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Various senior positions at Ita Unibanco Group , including CEO (January 2017 . 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. Dr. Moyo was Chief Executive of Officer of Mildstorm LLC, a financial and economics firm, from 2015 to 2021. Effective July 1, 2022, Jeff is also leading 3Ms Health Care Business Group on an interim basis. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Retired Group Vice President, Global Purchasing, Ford Motor Company, Retired Chief Executive Officer, AT&T Business, Retired Chief Financial Officer, Accenture. Zoe joined 3M in 1998, and has held roles of increasing responsibility in human resources across the companys businesses and geographic areas. 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%). A non-executive director is a member of a company's board of directors who is not part of the executive team. Incorporation is the legal process by which a business entity is formed. Leadership is about connecting with and inspiring others to achieve their best, Mark says. Eric joined 3M in 1997, and held several leadership positions in the Finance organization, primarily in Health Care and Electronics. investorrelations@3M.com. U.S. Securities and Exchange Commission. 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. 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. Outside of work, Monish enjoys reading, music, watching cricket, playing tennis or badminton and spending time with his family. Throughout Mikes career, he has lived and led businesses around the world, including the United States, Europe and Asia. @,s30_j0 \ Learn how we're working to improve lives and make what's next at 3M.com/newsor on Twitter at@3Mor@3MNews. The compensation analysis excludes any temporary reductions to director compensation implemented due to the pandemic. 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 . You can sign up for additional alert options at any time. For him, that comes down to business/market analysis and team success. From January 2006 through December 2006, Mr. Kent served as President of Coca-Cola International. Coronavirus Tips Working and Protection, For its 2021 fiscal year, 3M CO, listed the following executives on its annual proxy statement to the SEC. The Technology and Industrials sectors have the highest prevalence of stock options at 18% and 10% prevalence, respectively, granted in isolation or in tandem with full-value stock awards. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. "The Types of Directors," Pages 1-2. For the past eight years, Ms. 3M CO annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Throughout his 20-year 3M career, Kevin has led legal teams in areas of increasing responsibility. Monish joined 3M as senior vice president and chief financial officer in July 2020 and was drawn to the company for its history of innovation, ethics and global reach. That's actually a 5% increase from the year before. He joined 3M in 1987 as a health care sales representative. Mike Roman is chairman of the board and chief executive officer of 3M, a $35 billion science and manufacturing company that improves lives around the world. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Before joining the Edison International companies, Mr. Pizarro was a senior engagement manager with McKinsey & Company. The more qualifications you can bring to the table, the better. Retired Chairman of the Board and Chief Executive Officer, The Kroger Co. In his 35-year career with the company, he has played a key role in its transformation, from lower-margin, commodity businesses to one more deeply focused on higher-growth consumer demand-driven markets that value innovation. An audit committee is the part of a company's board of directors in charge financial reporting and disclosure. 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 . stream "We are very pleased to further strengthen 3M's board with two highly accomplished, world-class leaders," said 3M chairman and CEO Mike Roman. He was assigned to lead 3Ms $5.5B Electronics & Energy Business Group in July 2017. Additional pay could include bonus, stock, commission, profit sharing or tips. A director elected to the Board after the beginning of a Plan Year may elect, by written notice to 3M within 30 days after such director's term begins, to participate in the Compensation alternatives for the remainder of that Plan Year, and election for succeeding years shall be on the same basis as for other directors. You can sign up for additional alert options at any time. Definition, What's In It, and Voting, Non-Executive Director Role and Responsibilities Defined, Fiduciary Definition: Examples and Why They Are Important, Private Company Board Compensation Survey. The brands listed above are trademarks of 3M. 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 . 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. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. <> FW Cooks 2020 Director Compensation Report studies non-employee director compensation at 300 companies of various sizes and industries to analyze market practices in pay levels and program structure. "Definitive Proxy Statement, Apple 2021. In connection with Ms. Chow and Mr. Pizarro's election, the Board of Directors increased its size from 11 to 13 members. Exelon Corporation. At 3M, we promise to treat your data with respect and will not share your information with any third party. Pedro brings skills and experience in leading large companies and driving strategic improvements, and a deep understanding of the power of materials science to improve the world. Ms. Chow 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 Boston Globe reports that the average time commitment to serve on a board is fewer than five hours per week. In 2001, Mike returned to the U.S. as one of 3Ms first Six Sigma master black belts. Those two years, he says, are what really grounded him in company-wide priorities. 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 joined 3M in 1988 as a senior design engineer. 3M CO income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Director compensation structure remains consistent with prior years, with an average mix of 57% equity and 43% cash across the entire sample. He retired from Ford on August 1, 2013. 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. We also reference original research from other reputable publishers where appropriate. Ms. Lynch has helmed CVS Health since February 2021 and leads more than 300,000 employees, according to a . A decades-long career at 3M can span a diverse range of businesses, market segments and geographies, Mike says. 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. . By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. To effectively drive growth, it is important to keep the customer at the center of everything we do. As vice president of operational transformation, he led the companys transformation initiatives driving operating rigor and lean management across the company. "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.". Ms. Kereere has over 20 years of experience leading global businesses around the world, including in Europe, Australia, Asia and North America. In 2018, he was inducted into the Intellectual Property Hall of Fame by the IP Hall of Fame Academy. John has a Ph.D. in inorganic chemistry from Stanford University, and a bachelors degree in chemistry from Hamline University. Boards aren't entirely made up of retirees and people nearing the end of their careers. You will compete for board positions with people who have been extremely successful at a young age. 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. c/o Abbott Corporate Secretary. 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. About3M Non-employee directors also get every new Apple product for free on request and can purchase more at a discount. By learning about the backgrounds of existing board members, you can extrapolate what they may be looking for in new ones. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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.. 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. U.S. company directors compensated more than ever, but now risk backlash, Few Hours, Soaring Pay for Corporate Board Members. 3M (NYSE: MMM) believes science helps create a brighter world for everyone. At 3M, we promise to treat your data with respect and will not share your information with any third party. 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. 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. Equity grants most commonly vest immediately, or cliff-vest after one year. Mr. Dillon served as President from 1995 to 2003 and was elected Executive Vice President in 1990. She earned a B.A. 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. To address this data deficiency, Compensation Advisory Partners (CAP) and Family Business and Private Company Director magazines conducts our Private Company Board Compensation and Governance Survey. 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. 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? 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. 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). Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. Mr. Pizarro is a member of Edison International's Board of Directors. 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. Obviously, if there is a crisis or a strategic issuefor example, an acquisitionthe number of hours for a director can dramatically increase, Rogers says. (2005-2013) (alternate member of the Board of Directors, (1999 to 2005)) Previous experience. 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. Board members in general, by the way, participated in an average of 7.9 meetings, in person or remotely, during the year. View SAI KRISHNA.docx from STAT 5561 at University of Missouri, Kansas City. They range from recent retirees and people nearing retirement to younger people who've experienced early successes in business. 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 3M board of directors is mostly composed of former CEOs. 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. 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. Ive been fortunate enough to see this company from many, many anglesand 3M is impressive no matter where you are in the world.. He served in that role until 2012, when he became global business director for 3Ms Industrial Adhesives and Tapes Division. Page also serves as non-executive Chairman of the Board of Corteva Agriscience. She also has a long track record of community leadership involvement in strategic board and advisory work focused on driving success at the intersection of people, culture, and technology.

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