3m board of directors compensation

2 0 obj 3M Company Board of Directors Compensation Committee Charter (As Amended February 10, 2003) A. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Effective July 1, 2022, Jeff is also leading 3Ms Health Care Business Group on an interim basis. News & Views 2/17/2022 3M Adds To Board Of Directors. This report is not for commercial use. You must click the activation link in order to complete your subscription. Jeff earned his bachelor of business administration degree in marketing and finance from the Robert O. Anderson School of Management at the University of New Mexico, Albuquerque. Mike later became general manager of 3M Spain. Throughout Mikes career, he has lived and led businesses around the world, including the United States, Europe and Asia. I have been trying to get a review ever since and no one will say what is going on. The estimated base pay is $176,306 per year. The information shown here is a reporting of information included in the company's proxy statement. Could you fill that gap? 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. 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 . He served in that role until 2012, when he became global business director for 3Ms Industrial Adhesives and Tapes Division. Dont have any other debt - however this expensive mortgage would take half my monthly salary (post tax).. 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. Karina led strategic planning for the companys international operations and served as managing director for 3M Indonesia. 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. The Boston Globe reports that the average time commitment to serve on a board is fewer than five hours per week. 224-1W-02 Prior to her current role, she served as senior vice president of Talent, Learning and Insights. In 2003 he joined McKinsey & Company, and in 2007 rejoined 3M and assumed responsibility for the overall planning and implementation of corporate strategic initiatives. endobj As executive vice president and chief human resources officer, Zoe Dickson leads 3Ms transformative agenda for people and culture. Ms. Lynch has helmed CVS Health since February 2021 and leads more than 300,000 employees, according to a . Hornbaker says attending committee meetings might be another responsibility. Before joining the Edison International companies, Mr. Pizarro was a senior engagement manager with McKinsey & Company. Look for a gap in expertise that might be left when a current board member steps down. Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. 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. 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. For its 2021 fiscal year, 3M CO, listed the following board members on its annual proxy statement to the SEC. 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. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. "I believe that building confidence and removing the fear of failure are key components of leadership," says Peter. 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. St. Paul, MN 55144-1000 St. Paul, MN 55144-1000 Compensation for board members can easily reach $300,000 to $500,000 a year, according to Veritas, an executive compensation consulting service. He was assigned to lead 3Ms $5.5B Electronics & Energy Business Group in July 2017. 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. 3M has increased its dividend for 64 straight years. Sales Compensation Trends Revealed in New Survey. Here are a couple of examples of what Fortune 500 companies pay their board members. At 3M, we promise to treat your data with respect and will not share your information with any third party. Jeff Lavers is the group president of 3Ms Consumer Business Group. Dr. Moyo served as Global Economist & Capital Markets at Goldman Sachs from 2001 to 2008. Leadership is facilitating and embracing evolution, and accompanying the paths for change, Karina says. Bldg. Related Searches:All Director Salaries|All 3M Salaries. Phone: 651-737-6501 or 800-3M-HELPS 3M Investor Relations Department Bldg. She 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. Opening up lines of communication to a second- or even third-degree connection could lead to an excellent fit for the board position you seek. Ferguson & Co, a former KPMG affiliate. Ms. Chow is on the board of the following public company in addition to 3M: FranklinCovey. Prior to 3M, Monish spent 26 years at GE where he held a variety of roles of increasing responsibility across GEs businesses. Mike holds a masters degree in Electrical Engineering from the University of Southern California, and a bachelors degree from the University of Minnesota. The Company assumes no obligation to update or revise any forward-looking statements. Throughout his career he has led large technology transformations including SAP implementations, digital initiatives and cybersecurity. 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, 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. Mike and his family enjoy a variety of physical fitness and outdoor activities. 3M (NYSE: MMM) believes science helps create a brighter world for everyone. I feel blessed and give everything I have to leave 3M in a better place, every day.. Its that excitement, mixed with his incredible passion and leadership, that has led to some of 3Ms biggest equitable actions in the past year. 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. periodically receive reports on the status of Board compensation in relation to other large U.S. companies and is responsible for recommending to . "Anne has decades of experience in technology and business, and a proven track record of transforming global organizations and community engagement. He earned a bachelors degree from St. Josephs College of Commerce in Bangalore, India. Chicago, IL 60603. Download required. Serving on a corporate board of directors can be a lucrative side gig or second career for high-profile executives and recent retirees. Executive Vice President and Chief Financial Officer of Microsoft Corporation, a global technology company. He enjoys pushing himself mentally and physically in a broad range of athletics. Sleep, Mike jokes, though he will say more seriously that he tries to focus his energies where they will do the most good. He previously worked at St. Jude Medical for more than 15 years, holding multiple technology roles of increasing responsibility. Lead, Columbia University's SIPA Tech & Policy Initiative; . 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. Tel: (651) 737-6523 She is also actively involved in charitable organizations, focused on education and on the advancement of women in business, including The Womens Forum of New York, New York University Stern School of Business, Junior Achievement of New Jersey, and is a board member for Smith College Trustees. 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. These descriptions are fairly generic. 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. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. 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. In this role, he leverages his many years of experience as both a technology and business leader. Mr. Pizarro is a member of Edison International's Board of Directors. Pedro Pizarro has been President and CEO of Edison International, the parent company of Southern California Edison (SCE), one of the nation's largest electric utilities, since 2016. He received his J.D., magna cum laude, from Northwestern University; and his B.A. endobj "Few Hours, Soaring Pay for Corporate Board Members.". 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. Country Governance and Services comprises Global Country Leadership, the Workplace Group, Global Service Centers, and 3Ms Emerging Markets. %PDF-1.7 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. 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. He began his professional career as a senior research engineer in 3M laboratories in St. Paul. 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. Thorough reviews have been conducted to assure this data accurately reflects disclosures. 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. 3Ms culture brings together passionate people with purpose and strategy to solve some of the worlds toughest challenges.. We also reference original research from other reputable publishers where appropriate. This compensation may impact how and where listings appear. On Fishbowl, you can share insights and advice anonymously with 3M employees and get real answers from people on the inside. After submitting your request, you will receive an activation email to the requested email address. 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.. 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. He can also be found running, antiquing, reading science fiction and spending time with his family. Monish is a certified chartered accountant and a certified cost accountant from the Institute of Cost and Works Accountants of India. John has a Ph.D. in inorganic chemistry from Stanford University, and a bachelors degree in chemistry from Hamline University. He retired from Ford on August 1, 2013. Mr. Fitterling is also a passionate advocate for inclusion and diversity with a focus on diversifying Dows global talent, enhancing innovation and the customer experience, and strengthening relationships in the communities the company serves. Head of Global Business Solutions, Fiserv, Inc., a leading fintech and payments company. The offers that appear in this table are from partnerships from which Investopedia receives compensation. For online networking, Mark Rogers, CEO of BoardProspects.com, recommends his site, a board-recruitment network akin to LinkedIn. In connection with Ms. Chow and Mr. Pizarro's election, the Board of Directors increased its size from 11 to 13 members. Board membership is less stressful and time-consuming than earlier positions board members have taken on, while still offering an impressive income. Investopedia does not include all offers available in the marketplace. [email protected]. Mr. Kent held the position of Chairman of the Board from April 23, 2009 to April 30, 2019. Under Mikes leadership, 3M has also helped lead the worlds response to COVID-19, which includes distributing more than 4 billion respirators to protect nurses, doctors and first responders. His growth mindset, inclusive leadership, and orientation toward developing talent and culture has helped him lead highly successful complex changes and significant transformation. "People achieve great things when they are embraced and valued; when they are connected, not isolated; and when their intelligence and imagination are unleashed". "Definitive Proxy Statement, Apple 2021. c/o Abbott Corporate Secretary. "We are very pleased to further strengthen 3M's board with two highly accomplished, world-class leaders," said 3M chairman and CEO Mike Roman. You will compete for board positions with people who have been extremely successful at a young age.

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