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Learn how we're working to improve lives and make what's next at 3M.com/newsor on Twitter at@3Mor@3MNews. View SAI KRISHNA.docx from STAT 5561 at University of Missouri, Kansas City. 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. "The Types of Directors," Pages 1-2. It goes a lot higher from there. On Fishbowl, you can share insights and advice anonymously with 3M employees and get real answers from people on the inside. hbbd``b`$fH0@= , VDtbc a`$2012| As a member of Board of Directors at 3M CO, Muhtar Kent made $340,917 in total compensation. 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. 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. Retired Chairman of the Board and Chief Executive Officer, The Coca-Cola Company, the worlds largest beverage company. That's actually a 5% increase from the year before . Changes were relatively stable across industries; we observe that Financial Services, Industrials, and Technology companies had no increases in median total compensation, while Energy and Retail companies had increases of 3% and 2%, respectively. 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. 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. In 2011, he became executive vice president of the Consumer Business Group, and in 2016 was appointed executive vice president of the Health Care Business Group. As a CTO, Ashish led the global 3M team of over 8,000 scientists and engineers. Creating an atmosphere that allows people to perform at their best, collaborate broadly and enrich their own perspective makes for powerful outcomes.. Corporate boards are made up of highly successful executive outsiders. 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. Outside of work he enjoys reading, following college sports and spending time with his family. I am starting to look elsewhere but I have great WFH life now. 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 . Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. Its about creating an environment that unlocks the full potential of teams and individuals and, as a result, achieves even higher performance and more engaged employees.. For online networking, Mark Rogers, CEO of BoardProspects.com, recommends his site, a board-recruitment network akin to LinkedIn. Using 46 technology platforms, our integrated team of scientists and researchers.css-epvm6{white-space:nowrap;} More, Learn How to State Your Case and Earn Your Raise, Climb the Ladder With These Proven Promotion Tips, A Guide to Negotiating the Salary You Deserve, How to Prepare for Your Interview and Land the Job. Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. He retired from Ford on August 1, 2013. Description 3M Co. 3M Co. is a technology company, which manufactures industrial, safety, and consumer products. This would be in addition to the peer group benchmarks (what other CEOs make) that the company uses to determine CEO compensation. For its 2021 fiscal year, 3M CO, listed the following board members on its annual proxy statement to the SEC. After submitting your request, you will receive an activation email to the requested email address. Prior to joining 3M in 2001, Kevin was a partner at Kirkland & Ellis in Chicago. In 2016, John moved to West Europe to serve as managing director of 3Ms D-A-CH region, which represents the companys combined operations in Germany, Austria and Switzerland. For the past eight years, Ms. 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 . 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. Dont have any other debt - however this expensive mortgage would take half my monthly salary (post tax).. Mr. Dillon served as President from 1995 to 2003 and was elected Executive Vice President in 1990. 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. in Economics from Instituto Tecnolgico Autnomo de Mexico, a Masters in Economics for Development from Oxford University in the United Kingdom, and an MBA from Universit Libre de Bruxelles in Belgium. As an outside director, you could bring a fresh perspective to a corporate board and leverage your years of experience as an executive into a satisfying new project that still leaves you with enough time to do your day job or enjoy your retirement. Ms. Kereere has over 20 years of experience leading global businesses around the world, including in Europe, Australia, Asia and North America. The Company assumes no obligation to update or revise any forward-looking statements. Eric serves on the boards of the U.S. Chamber of Commerce, St. Paul & Minnesota Foundation, and National Association of Manufacturing. 3M is not only a world leader in innovation but was built on a foundation of strong ethics, customer centricity, a global mindset and a deep and diverse team, says Monish. 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. In November 2021, Karina assumed her current role as senior vice president and chief strategy officer. VUL^07d=xy2 *'..j(( Hs00 Dr. Moyo earned a bachelors degree in chemistry and MBA degree in Business Administration from American University, an M.P.A. For him, that comes down to business/market analysis and team success. 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. From December 2006 through June 2008, Mr. Kent served as President and Chief Operating Officer of The Coca-Cola Company. 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 You can sign up for additional alert options at any time. Help make it more accurate by adding yours. He previously had led 3Ms Digital Transformation, one of the companys three value creation levers. 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? 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. 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. That year's top payer was Goldman Sachs Group Inc., which paid its directors an average of $599,279. As 3Ms senior vice president and chief strategy officer, Karina Chavez leads several functions including strategy, brand, design, sponsorships and events, and communications for the $32 billion science-based company. 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. 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. "Few Hours, Soaring Pay for Corporate Board Members.". Throughout Mikes career, he has lived and led businesses around the world, including the United States, Europe and Asia. He joined 3M in 1988 as a senior design engineer. 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, . 3M Expands Board of Directors February 14, 2022. (2005-2013) (alternate member of the Board of Directors, (1999 to 2005)) Previous experience. Most recently he served as CFO of GE Healthcare. Director compensation structure remains consistent with prior years, with an average mix of 57% equity and 43% cash across the entire sample. Mike later became general manager of 3M Spain. 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, Prior to GE, Monish gained experience at A.F. 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. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. I have been trying to get a review ever since and no one will say what is going on. 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. 3M leverages its 51 technology platforms to create differentiated solutions for customers through four business groups: Safety & Industrial, Transportation & Electronics, Health Care, and Consumer. 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. 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. For example, audit committees have regular meetings before public filings, she says. 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. Outside of work, Monish enjoys reading, music, watching cricket, playing tennis or badminton and spending time with his family. [Br*L7r/Nv&rrzDGx0V:o,eIY^'(O >vXT cct"o3jvYEfp.w$}0BirMZIHI6M)9z?eOtp'pON{~YN>=mCs:a'heTb\G. In his current position, John remains focused on driving change, challenging the status quo and helping develop the 3M leaders of tomorrow. Dr. Ashish Khandpur is group president of 3Ms Transportation and Electronics Business Group. He began his professional career as a senior research engineer in 3M laboratories in St. Paul. 4 0 obj oYgd=??/_C|72KFSI. 3M has increased its dividend for 64 straight years. Before joining the Edison International companies, Mr. Pizarro was a senior engagement manager with McKinsey & Company. The companys financial objectives include continuing to grow above the markets it serves, expand margins and generate strong cash flow. Throughout her life and career, Karina has lived and worked around the world. 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 can sign up for additional alert options at any time. endstream endobj startxref The estimated base pay is $176,306 per year. 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. Retired Chief Financial Officer, Accenture plc., a global management consulting, technology services and outsourcing company. 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. Ms. Chow 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. Board membership is less stressful and time-consuming than earlier positions board members have taken on, while still offering an impressive income. @,s30_j0 \ 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 Can we afford $1.3M home? If you experience any issues with this process, please contact us for further assistance. Rogers adds, Board members are the representatives of the shareholders, and it is their fiduciary duty to oversee the affairs of the corporation, including overall performance and fiscal strength, and to serve as a consultant for managementparticularly with respect to the strategic and operational directives of the company.. A proxy statement is a document the SEC requires companies to provide shareholders that includes information needed to make decisions at shareholder meetings. 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. These include white papers, government data, original reporting, and interviews with industry experts. As executive vice president, chief technology officer and environmental responsibility, Dr. John Banovetz leads more than 8,000 scientists who connect 3Ms 51 technology platforms to solve the real-world needs of customers around the world. 3M Investor Relations Department A corporation is a separate legal entity from its owners. Chicago, IL 60603. 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. Mr. Pizarro is a member of Edison International's Board of Directors. I took some time to think about it because the emotions of the time were raw and real, Garfield said. Phone: 651-737-6501 or 800-3M-HELPS 3M Investor Relations Department Bldg. In this role, Kevin led ongoing efforts during the COVID-19 pandemic to combat fraud, counterfeiting, and price gouging of N95 respirators. degree from Harvard University and a Ph.D. in Economics from the University of Oxford. These descriptions are fairly generic. 3M CO income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. She is married with two teenage children, and enjoys hiking, baking, and exploring the world with her family. 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. Michael Ferrante and Connor Damon are consultants at FW Cook. You will compete for board positions with people who have been extremely successful at a young age. Engage in conversations about Director pay with other professionals in the community. During his assignment as the laboratory head in India, Ashish was responsible for establishing its first product development laboratory and capabilities. Three years later, he was tapped to lead 3M's corporate research lab. 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. Mr. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. At 3M, we promise to treat your data with respect and will not share your information with any third party. It regularly meets in executive session, without the presence of Rogers' management. "Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? He served in that role until 2012, when he became global business director for 3Ms Industrial Adhesives and Tapes Division. Retired Chairman of the Board and Chief Executive Officer, United Parcel Service, Inc., a provider of specialized transportation and logistics services. Averages based on self-reported salaries. Ashish has been with the company for more than 26 years. St. Paul, MN 55144-1000 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. Mr. Roman is on the board of the following organizations in addition to 3M: Abbott Laboratories, University of Minnesota Foundation Board of Trustees. Download required. Retired Chairman and Chief Executive Officer of Cargill. The 3M board of directors is mostly composed of former CEOs. This post is based on their FW Cook memorandum. Mike joined the company in 1992, shortly after earning a Ph.D. in chemistry from M.I.T. Ms. Chairman of the Board and Chief Executive Officer of 3M Company. 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. 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. Dillon served as a Director of the Kroger Co. from 1995 through 2014. Under his leadership, the company has committed to providing much-needed innovation and resources to address key sustainability challenges such as plastic waste and climate change. The estimated total pay for a Director at 3M is $345,577 per year. He served in that role until 2012, when he became global business director for 3M's Industrial Adhesives and Tapes Division. Monish is a certified chartered accountant and a certified cost accountant from the Institute of Cost and Works Accountants of India. 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. . Prior to 3M, Mark served as Chief Information Officer for Abbott Laboratories where he had global responsibilities for Abbotts technology landscape. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. 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 executive officer of Edison International, have been elected to 3M's Board of Directors, effective Feb. 9, 2023. In addition to his role at 3M, he is on the Presidents Council of Advisors on Science and Technology (PCAST), the Board of Trustees at the Science Museum of Minnesota and is an emeritus trustee for Hamline University. Approximately 90% of companies in the sample grant full-value stock awards exclusively (i.e., no stock options). hb```e``3,00```T~s@@(` Mr. Dillon is on the board of the following public company in addition to 3M: Union Pacific Corporation. John and his team also oversee 3Ms environmental responsibility efforts, with a focus on advancing environmental stewardship and accelerating 3Ms environmental commitments. 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. Approximately 94% of companies denominate equity awards as a dollar value rather than as a fixed number of shares. As a member of Board of Directors at 3M CO , Vance D. Coffman made $107,459 in total compensation. I am extremely thankful for the company and leaders I work for at 3M, Eric says. "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.". John came to 3M in 1995 as a research chemist in the corporate R&D organization, working primarily on acrylic adhesives and tapes. He returned to the Visual Systems Division before another posting in Italy as a laboratory and project manager. Mike and his family enjoy a variety of physical fitness and outdoor activities. He serves on the board of Abbott Laboratories and on the University of Minnesota Foundation Board of Trustees. 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. 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.. It claims that including the USW proposal would involve "significant time, cost and resource . Exelon Corporation. To effectively drive growth, it is important to keep the customer at the center of everything we do. Tel: (651) 737-6523 Its about supporting constant iteration, until a point you make yourself obsolete.. I believe great leaders are great listeners who carry themselves with humility, authenticity, accessibility, transparency and integrity.. Equity grants most commonly vest immediately, or cliff-vest after one year. 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. 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. Explore our Directors and their backgrounds. Boards aren't entirely made up of retirees and people nearing the end of their careers. As a member of Board of Directors at 3M CO , Thomas made $320,487 in total compensation. 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. ", Veritas. 3M (NYSE: MMM) believes science helps create a brighter world for everyone. You must click the activation link in order to complete your subscription. 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. The most common director ownership guideline is 5x the annual cash retainer with a 5-year timeframe to meet the guideline. 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 . Mr. Pizarro is on the board of the following public company in addition to 3M: Edison International. 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. The offers that appear in this table are from partnerships from which Investopedia receives compensation. The Company assumes no obligation to update or revise any forward-looking statements. Look for a gap in expertise that might be left when a current board member steps down. She also worked at the World Bank in Washington, D.C. from 1993 to 1995. 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. Kevin Rhodes is Executive Vice President and Chief Legal Affairs Officer, overseeing legal, compliance, government affairs and global security matters for 3M. John has a Ph.D. in inorganic chemistry from Stanford University, and a bachelors degree in chemistry from Hamline University. Mike became chairman of the board in May 2019 and chief executive officer in July 2018. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. Its that excitement, mixed with his incredible passion and leadership, that has led to some of 3Ms biggest equitable actions in the past year. It begins with actively listening and then relentlessly working to deliver outcomes to solve customer problems, says Monish. 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.". 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. He joined 3M in 1987 as a health care sales representative. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. The Health Care Business Group makes better health possible by delivering proven innovations in medical and oral care, health information systems, and food safety, enabling healthcare professionals to improve quality of care for millions of people around the globe. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Effective April 1, 2019, Ashish was appointed to lead the newly created 3Ms Transportation and Electronics Business Group, with total revenues of approximately $10B. Personal health and fitness are his passion. %PDF-1.7 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 . In 2018, he was inducted into the Intellectual Property Hall of Fame by the IP Hall of Fame Academy. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. 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. % Why Investors Should Look at the Proxy Statement, Disney Names New Chair, Eases Park Rules Amid Proxy Battle. By learning about the backgrounds of existing board members, you can extrapolate what they may be looking for in new ones. In connection with Ms. Chow and Mr. Pizarro's election, the Board of Directors increased its size from 11 to 13 members. Could you fill that gap? Coronavirus Tips Working and Protection, For its 2021 fiscal year, 3M CO, listed the following executives on its annual proxy statement to the SEC. 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. Yang Lagi Viral Di Media Sosial 2021, Safie Frankenstein Quotes, Casitas De Renta En Lynwood, Does Pots Go Away After Covid, Stewart's Iced Coffee Recipe, Articles OTHER

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