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. Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. 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). c/o Abbott Corporate Secretary. 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. Leaders serve by creating an inclusive environment which values diverse perspectives, teamwork and innovation. To effectively drive growth, it is important to keep the customer at the center of everything we do. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. He enjoys pushing himself mentally and physically in a broad range of athletics. The estimated total pay for a Director at 3M is $345,577 per year. 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. 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. 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. Prior to 3M, she served as a business leader and consultant for various companies in Mexico and Europe. 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. The estimated base pay is $176,111 per year. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. This compensation may impact how and where listings appear. 3M provides a match up to a certain percent, 3M is a global science company that never stops inventing. Ms. Craig served as Accenture's CFO from 2006 through 2013, following her many other leadership roles in line management, consulting and operations at Accenture during her 34 years with the company. A corporation is a separate legal entity from its owners. Mike serves as a member of the board of directors of The Toro Company and is a former trustee of the Science Museum of Minnesota. ", Boston Globe. <>/Metadata 125 0 R/ViewerPreferences 126 0 R>> 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 . Sleep, Mike jokes, though he will say more seriously that he tries to focus his energies where they will do the most good. 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, In January 2020, Environmental Responsibility was added to his role, including the Environment, Health and Safety organization. Serving on a corporate board of directors can be a lucrative side gig or second career for high-profile executives and recent retirees. Could you fill that gap? 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. 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. 3M Expands Board of Directors February 14, 2022. 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. Tel: (651) 737-6523 Hornbaker says attending committee meetings might be another responsibility. Chairman and Chief Executive Officer of Dow, Inc., a leading global materials science company. St. Paul, MN 55144-1000 Anne Chow and Pedro Pizarro elected to 3M Board of Directors, Caution Concerning Forward-Looking Statements, https://www.prnewswire.com/news-releases/anne-chow-and-pedro-pizarro-elected-to-3m-board-of-directors-301741429.html, SDS, RDS, More Regulatory & Compliance Information. The Board is mainly comprised of outside, independent directors. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. Ashish has a strong technical background and has authored 10 patents. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. CleanLink News. You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). The companys 96,000 employees are united by a common purpose: unlocking the value of people, science, and ideas to re-imagine what is possible. endobj 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. 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. Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. Bldg. In this role, he leverages his many years of experience as both a technology and business leader. After spending almost two years with Aearo integrating it into 3M, Mike became managing director of 3M Brazil in 2009. 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. Mike holds a masters degree in Electrical Engineering from the University of Southern California, and a bachelors degree from the University of Minnesota. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. The more qualifications you can bring to the table, the better. A proxy statement is a document the SEC requires companies to provide shareholders that includes information needed to make decisions at shareholder meetings. 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. A board of directors (B of D) is the governing body of a company, elected by shareholders to set strategy and oversee management. He is past-chair of the board of Big Brothers Big Sisters of America, past president of the Northern Star Council of the Boy Scouts of America and continues to serve on both boards as well as the board of Alight (formerly known as the American Refugee Committee). 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. Throughout his 20-year 3M career, Kevin has led legal teams in areas of increasing responsibility. President Joe Biden intends to name Karen Lynch, CEO of CVS Health, to his Export Council. 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. Mr. Roman also has held numerous leadership positions in Asia Pacific and Europe, across multiple businesses. A decades-long career at 3M can span a diverse range of businesses, market segments and geographies, Mike says. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. As vice president of operational transformation, he led the companys transformation initiatives driving operating rigor and lean management across the company. The Company assumes no obligation to update or revise any forward-looking statements. He joined 3M in 1988 as a senior design engineer. 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. Aside from the financial compensation, your reward will be having substantial input into major decisions made by the company, such as executive hires, policies on dividends and stock options, and executive payall while representing the best interests of management and shareholders. Unsurprisingly, the board disagrees with the USW proposal. An audit committee is the part of a company's board of directors in charge financial reporting and disclosure. Mr. 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. 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. Bldg. 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 Effective July 1, 2022, Jeff is also leading 3Ms Health Care Business Group on an interim basis. 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. oYgd=??/_C|72KFSI. 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. 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. 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. For nine straight years, 3M has been recognized by Ethisphere as one of the Worlds Most Ethical Companies. This employer has claimed their Employer Profile and is engaged in the Glassdoor community. 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. Average compensation in 2018 at those firms was $304,856, according to Reuters. Lead, Columbia University's SIPA Tech & Policy Initiative; . You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Look for a gap in expertise that might be left when a current board member steps down. Here are a couple of examples of what Fortune 500 companies pay their board members. She earned a B.A. He previously led the companys litigation function, and served for more than ten years as chief intellectual property counsel, with responsibility for managing the global intellectual property assets of 3M and its worldwide affiliates. Zoe has been the architect of 3Ms talent and organization effectiveness strategies, and a passionate advocate for embedding diversity, equity and inclusion across the company. AP6D. Description 3M Co. 3M Co. is a technology company, which manufactures industrial, safety, and consumer products. 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. Karina led strategic planning for the companys international operations and served as managing director for 3M Indonesia. For its 2021 fiscal year, 3M CO, listed the following CEO pay ratio data on its annual proxy statement to the SEC. <> 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. I have been trying to get a review ever since and no one will say what is going on. 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. 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. 224-1W-02 It begins with actively listening and then relentlessly working to deliver outcomes to solve customer problems, says Monish. 3M Investor Relations Department Mr. Pizarro served as president of SCE from 2014 to 2016. John came to 3M in 1995 as a research chemist in the corporate R&D organization, working primarily on acrylic adhesives and tapes. Executive Vice President and Chief Financial Officer of Microsoft Corporation, a global technology company. He was elected to the Cargill Board of Directors in 2000 and elected Chairman of the Board in 2007. At 3M, we promise to treat your data with respect and will not share your information with any third party. endobj Mr. Dillon began his retailing career at Dillon Companies, Inc. (later a subsidiary of The Kroger Co.) in 1976 and advanced through various management positions, including its President from 1986-1995. 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 . 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. "U.S. company directors compensated more than ever, but now risk backlash.". 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. The median compensation for members of private company boards of directors was $44,850 in 2021, according to a global study by Lodestone Global. Prior to GE, Monish gained experience at A.F. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. 3M CO annual reports of executive compensation and pay are most commonly found in the Def 14a documents. You can sometimes learn what companies seek in their board members by reading the companys annual proxy statement. 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. He previously served as chief operating officer, led 3Ms largest business group and was chief strategist. Retired Chairman of the Board and Chief Executive Officer, United Parcel Service, Inc., a provider of specialized transportation and logistics services. The compensation analysis excludes any temporary reductions to director compensation implemented due to the pandemic. Dr. Ashish Khandpur is group president of 3Ms Transportation and Electronics Business Group. 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. 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? Mr. Pizarro is a member of Edison International's Board of Directors. This would be in addition to the peer group benchmarks (what other CEOs make) that the company uses to determine CEO compensation. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. 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. "People achieve great things when they are embraced and valued; when they are connected, not isolated; and when their intelligence and imagination are unleashed". Ive been fortunate enough to see this company from many, many anglesand 3M is impressive no matter where you are in the world.. 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. Mr. Pizarro earned his bachelor's degree in chemistry from Harvard University and his Ph.D. in chemistry from the California Institute of Technology. Deloitte. The median annual retainer is $30,000, up from $28,000 in 2020. "Private Company Board Compensation Survey. He served in that role until 2012, when he became global business director for 3M's Industrial Adhesives and Tapes Division. Board members in general, by the way, participated in an average of 7.9 meetings, in person or remotely, during the year. Jeff has lived and worked internationally for 3M, and always with a great passion on exceeding customer expectations. She is married with two teenage children, and enjoys hiking, baking, and exploring the world with her family. The Technology sector provides the highest median equity retainer ($161,595) and Financial Services the lowest ($100,000). After submitting your request, you will receive an activation email to the requested email address. In 2016, John moved to West Europe to serve as managing director of 3M's D-A-CH region, which represents the company's combined operations in . Dr. Moyo is on the board of the following organizations in addition to 3M: Chevron Corporation and Conde Nast. Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. Executive search firms can streamline the process since theyll know about available positions. Kevin and his wife Melinda have three adult children. Dr. Moyo was Chief Executive of Officer of Mildstorm LLC, a financial and economics firm, from 2015 to 2021. Dow's Board of Directors exemplifies good governance with solid, diverse experience and credentials. He most recently was Senior Vice President and Deputy General Counsel, advising senior management and the Board of Directors on legal issues. 224-1W-02 President and CEO, Edison International, the parent company of Southern California Edison (SCE), one of the nations largest electric utilities, since 2016. Country Governance and Services comprises Global Country Leadership, the Workplace Group, Global Service Centers, and 3Ms Emerging Markets. VUL^07d=xy2 *'..j(( Hs00 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.. Outside of work, Monish enjoys reading, music, watching cricket, playing tennis or badminton and spending time with his family. He was a senior research chemist in the Visual Systems Division before joining 3M Italy as a product development engineer. 3M Company Board of Directors Compensation Committee Charter (As Affirmed February 5, 2019) A. The information shown here is a reporting of information included in the company's proxy statement. Formal board meetings where all the directors are present typically occur four to six times per year, depending on the company. Help make it more accurate by adding yours. In his spare time, he dedicates himself to being a loving husband and father and growing his family. endstream endobj 103 0 obj <. 3M Company Board of Directors Compensation Committee Charter (As Amended February 10, 2003) A. "We are very pleased to further strengthen 3M's board with two highly accomplished, world-class leaders," said 3M chairman and CEO Mike Roman. Prior to her current role, she served as senior vice president of Talent, Learning and Insights. Leadership is about serving more than yourself, he says. Monish is a certified chartered accountant and a certified cost accountant from the Institute of Cost and Works Accountants of India. In 1996, the National Association of Corporate Directors (NACD) issued the Blue Ribbon Commission Report on Director Professionalism, which had a great influence on board member compensation practices. Head of Global Business Solutions, Fiserv, Inc. She has been married more than 20 years, with two teenage kids. Incorporation is the legal process by which a business entity is formed. 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. St. Paul, MN 55144-1000 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. 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. Eric joined 3M in 1997, and held several leadership positions in the Finance organization, primarily in Health Care and Electronics. 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.
How To Automatically Add Rows In Excel With Formula, Morristown, Tn Most Wanted, Articles OTHER