I took some time to think about it because the emotions of the time were raw and real, Garfield said. Its members include current board members, aspiring board members, and corporations looking to hire board members. Chicago, IL 60603. hb```e``3,00```T~s@@(` 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? If the company wasnt serious about action, then I wouldnt be the right candidate., Listening to our communities: The diverse voices and perspectives of 3M's Community Coalition, During his 33-year tenure at 3M, Global Diversity and Inclusion Strategist Scott Morris has never been more excited to be a part of a company and movement that is helping affect peoples lives. He returned to the Visual Systems Division before another posting in Italy as a laboratory and project manager. 3M - Governance - Corporate Officers - 3M - IR Home Unsurprisingly, the board disagrees with the USW proposal. 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. Why Investors Should Look at the Proxy Statement, Disney Names New Chair, Eases Park Rules Amid Proxy Battle. Mike later became general manager of 3M Spain. investorrelations@3M.com. 3M Company Board of Directors Compensation Committee Charter (As Amended February 10, 2003) A. The Energy sector provides the highest median cash retainer for board service ($86,250) and Technology the lowest ($60,000). The estimated base pay is $176,111 per year. In 2008, he became Ford's Group Vice President, Global Purchasing, with responsibility for approximately $90 billion of production and non-production procurement for Ford operations worldwide. Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. The Board is mainly comprised of outside, independent directors. This is a defining time for all companies and 3M is no different in that respect, Scott said. Most recently he served as CFO of GE Healthcare. Kevin and his wife Melinda have three adult children. In 2003 he joined McKinsey & Company, and in 2007 rejoined 3M and assumed responsibility for the overall planning and implementation of corporate strategic initiatives. 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. 3M News Center - Press Releases Non-employee directors also get every new Apple product for free on request and can purchase more at a discount. 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. Hornbaker says attending committee meetings might be another responsibility. Prior to that, Mr. Roman served as Executive Vice President and Chief Operating Officer of 3M Company from July 2017 to June 2018, Executive Vice President of 3Ms Industrial Business from May 2014 to June 2017, and Senior Vice President of Business Development from May 2013 to May 2014, with responsibility for 3Ms strategic roadmap. 1 0 obj Throughout his career he has led large technology transformations including SAP implementations, digital initiatives and cybersecurity. Compensation for board members can easily reach $300,000 to $500,000 a year, according to Veritas, an executive compensation consulting service. Help make it more accurate by adding yours. The median annual retainer is $30,000, up from $28,000 in 2020. Walmart's current board members include Cesar Conde, 47, chair of NBCUniversal, and Marissa Mayer, 46, who is well-known for the high positions she achieved at Google and Yahoo. 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. At 3M, we promise to treat your data with respect and will not share your information with any third party. You can sign up for additional alert options at any time. Prior to 3M, she served as a business leader and consultant for various companies in Mexico and Europe. 3M CO Board Member Muhtar Kent | Salary.com If you experience any issues with this process, please contact us for further assistance. News & Views 2/17/2022 3M Adds To Board Of Directors. Similar to last year, 63% of companies provide additional compensation to committee members. Over the years, he has held various positions of increasing responsibility in corporate research and division labs. Serving on a corporate board of directors can be a lucrative side gig or second career for high-profile executives and recent retirees. FW Cook's 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. The 3M board of directors is mostly composed of former CEOs. 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. Prior to 3M, Peter served as chief executive officer of TireHub, a joint venture last mile distributor between Bridgestone and Goodyear. Thorough reviews have been conducted to assure this data accurately reflects disclosures. 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. President and CEO, Edison International, the parent company of Southern California Edison (SCE), one of the nations largest electric utilities, since 2016. Peter Gibbons joined 3M in November 2021 as group president of Enterprise Operations, which brings together manufacturing, supply chain and customer operations, and is focused on optimizing the customer experience through end-to-end aligned and agile operations. <>/Metadata 125 0 R/ViewerPreferences 126 0 R>> Know Your Worth. She earned a B.A. A decades-long career at 3M can span a diverse range of businesses, market segments and geographies, Mike says. IBM Board of Directors (PAGE 10) Director Nominees IBM's Board is composed of a diverse, experienced group of global Eric serves on the boards of the U.S. Chamber of Commerce, St. Paul & Minnesota Foundation, and National Association of Manufacturing. Tel: (651) 737-6523 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. The brands listed above are trademarks of 3M. Retired Chairman and Chief Executive Officer of Cargill. 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. 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 . 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. For him, that comes down to business/market analysis and team success. From December 2006 through June 2008, Mr. Kent served as President and Chief Operating Officer of The Coca-Cola Company. Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. How Much Board of Directors Members Get Paid and What They Do Averages based on self-reported salaries. x\s6(uj L3#inj'Flt?MR4(X,v _u]o_m-W?wpys1_#i5HJ By learning about the backgrounds of existing board members, you can extrapolate what they may be looking for in new ones. Sleep, Mike jokes, though he will say more seriously that he tries to focus his energies where they will do the most good. 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. 3M Investor Relations Department 3M(NYSE: MMM) believes science helps create a brighter world for everyone. 3M - Governance - Governance Documents Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. 6 yrs at my current company. Investopedia does not include all offers available in the marketplace. Engage in conversations about Director pay with other professionals in the community. 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. 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. It regularly meets in executive session, without the presence of Rogers' management. You must click the activation link in order to complete your subscription. MMM | 3M Co. Company Profile & Executives - WSJ 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, Once you find a good prospect, you must be nominated by the nomination committee, then approved by shareholder election. This employer has claimed their Employer Profile and is engaged in the Glassdoor community. 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. 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. Bldg. He was elected to the Cargill Board of Directors in 2000 and elected Chairman of the Board in 2007. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. After spending almost two years with Aearo integrating it into 3M, Mike became managing director of 3M Brazil in 2009. The companys financial objectives include continuing to grow above the markets it serves, expand margins and generate strong cash flow. Mr. Pizarro served as president of SCE from 2014 to 2016. Mr. Pizarro served as president of SCE from 2014 to 2016. 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. U.S. company directors compensated more than ever, but now risk backlash, Few Hours, Soaring Pay for Corporate Board Members. I am starting to look elsewhere but I have great WFH life now. 3M is advancing diversity, equity and inclusion with a pledge to double its representation of underrepresented groups, along with new initiatives to strengthen STEM education. At 3M, we promise to treat your data with respect and will not share your information with any third party. Anne Chow and Pedro Pizarro elected to 3M Board of Directors 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. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Investopedia requires writers to use primary sources to support their work. She has lived and worked around the world for 3M, including in Asia Pacific, Europe and the United States. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. The Company assumes no obligation to update or revise any forward-looking statements. 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 102 0 obj <> endobj [Br*L7r/Nv&rrzDGx0V:o,eIY^'(O >vXT cct"o3jvYEfp.w$}0BirMZIHI6M)9z?eOtp'pON{~YN>=mCs:a'heTb\G. St. Paul, MN 55144-1000 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. Ms. Chow is on the board of the following public company in addition to 3M: FranklinCovey. Dr. Ashish Khandpur is group president of 3Ms Transportation and Electronics Business Group. Corporate boards are made up of highly successful executive outsiders. 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. I have been an Office Manager 21 yrs. Throughout Mikes career, he has lived and led businesses around the world, including the United States, Europe and Asia. 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. 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. 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. After submitting your request, you will receive an activation email to the requested email address. "Anne has decades of experience in technology and business, and a proven track record of transforming global organizations and community engagement. He most recently was Senior Vice President and Deputy General Counsel, advising senior management and the Board of Directors on legal issues. 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 2022 Private Company Board Compensation Survey As vice president of operational transformation, he led the companys transformation initiatives driving operating rigor and lean management across the company. Mr. We also reference original research from other reputable publishers where appropriate. She also worked at the World Bank in Washington, D.C. from 1993 to 1995. ", Reuters. Mr. Board of Directors | Corporate Governance | Dow Investor Relations Mr. Dillon is on the board of the following public company in addition to 3M: Union Pacific Corporation. He serves on the board of Abbott Laboratories and on the University of Minnesota Foundation Board of Trustees. 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. PDF 3M Company Board of Directors Compensation Committee Charter (As 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. After submitting your request, you will receive an activation email to the requested email address. Over the years, his career with 3M has sent him abroad four times for varied roles, including research chemist, manufacturing director and general manager.

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