"I believe that building confidence and removing the fear of failure are key components of leadership," says Peter. The prevalence of committee member retainers has been stable year-over-year, while the use of committee meeting fees continues to decrease. She previously held executive leadership roles in global merchant sales and acquiring at Visa from 2016 to 2021. A board of directors (B of D) is the governing body of a company, elected by shareholders to set strategy and oversee management. <> 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. 3Ms culture brings together passionate people with purpose and strategy to solve some of the worlds toughest challenges.. Corporate boards are made up of highly successful executive outsiders. As vice president of operational transformation, he led the companys transformation initiatives driving operating rigor and lean management across the company. Formal board meetings where all the directors are present typically occur four to six times per year, depending on the company. Retired Chairman of the Board and Chief Executive Officer, The Kroger Co. endstream endobj 103 0 obj <. 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. Dont have any other debt - however this expensive mortgage would take half my monthly salary (post tax).. 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). He previously led the construction and home improvement business, and the companys corporate marketing and sales organization. Coronavirus Tips Working and Protection, For its 2021 fiscal year, 3M CO, listed the following executives on its annual proxy statement to the SEC. 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. ", Boston Globe. At 3M, we promise to treat your data with respect and will not share your information with any third party. 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. Head of Global Business Solutions, Fiserv, Inc., a leading fintech and payments company. 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. It operates through the following segments: Safety and Industrial,. You may also find the annual proxy statement by going directly to the company's website. Prior to 3M, Peter served as chief executive officer of TireHub, a joint venture last mile distributor between Bridgestone and Goodyear. She has been married more than 20 years, with two teenage kids. 1 0 obj You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 3M Company Board of Directors Compensation Committee Charter (As Amended February 10, 2003) A. Bldg. Personal health and fitness are his passion. The estimated base pay is $176,306 per year. "Few Hours, Soaring Pay for Corporate Board Members.". Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. This is a defining time for all companies and 3M is no different in that respect, Scott said. Hornbaker says attending committee meetings might be another responsibility. 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. Dr. Moyo is a global economist and author who analyzes the macroeconomy and international affairs. Mike and his family enjoy a variety of physical fitness and outdoor activities. Help make it more accurate by, Get started with your Free Employer Profile, average salary for a Director is $129,368 per year in United States, The Ultimate Job Interview Preparation Guide. 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. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Dr. Moyo is on the board of the following organizations in addition to 3M: Chevron Corporation and Conde Nast. Throughout her life and career, Karina has lived and worked around the world. A proxy statement is a document the SEC requires companies to provide shareholders that includes information needed to make decisions at shareholder meetings. 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. You can learn more about the standards we follow in producing accurate, unbiased content in our. They also recommended doing away with pension and . Deloitte. Prior to 3M, she served as a business leader and consultant for various companies in Mexico and Europe. 3M Investor Relations Department You can sign up for additional alert options at any time. The compensation analysis excludes any temporary reductions to director compensation implemented due to the pandemic. Ms. <>/Metadata 125 0 R/ViewerPreferences 126 0 R>> 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. Get a free, personalized salary estimate based on today's job market. These include white papers, government data, original reporting, and interviews with industry experts. 3M leverages its 51 technology platforms to create differentiated solutions for customers through four business groups: Safety & Industrial, Transportation & Electronics, Health Care, and Consumer. 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. As a member of Board of Directors at 3M CO , Vance D. Coffman made $107,459 in total compensation. For him, that comes down to business/market analysis and team success. Compensation for board members can easily reach $300,000 to $500,000 a year, according to Veritas, an executive compensation consulting service. 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. endstream endobj startxref 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. Effective April 1, 2019, Ashish was appointed to lead the newly created 3Ms Transportation and Electronics Business Group, with total revenues of approximately $10B. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Description 3M Co. 3M Co. is a technology company, which manufactures industrial, safety, and consumer products. Board membership is less stressful and time-consuming than earlier positions board members have taken on, while still offering an impressive income. If youre interested in pursuing a board seat, heres what you need to know about what boards are looking for, how to get noticed, and what to expect as compensation. He previously served as chief operating officer, led 3Ms largest business group and was chief strategist. He received his J.D., magna cum laude, from Northwestern University; and his B.A. 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. Phone: 651-737-6501 or 800-3M-HELPS 3M Investor Relations Department Bldg. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Finally, make sure you are networking and letting people know what boards you are suitable for, while also leveraging contacts you might have with the companies that you might be interested in, Hornbaker says. 6 yrs at my current company. For its 2021 fiscal year, 3M CO, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Chairman and Chief Executive Officer of Dow, Inc., a leading global materials science company. Another example would be compensation meetings to discuss compensation plans and awards.. Fixed retainers remain more prevalent than meeting fees as the means to deliver additional compensation. I have been an Office Manager 21 yrs. Director Compensation Practices offers a comprehensive set of benchmarking data and analysis needed to inform the board pay design process. Mr. Due to the COVID-19 pandemic, 15% of S&P 500 companies and roughly 13% of Russell 3000 companies reported taking pay actions through the third quarter of 2020, which generally consisted of cash retainer reductions. Jeff has lived and worked internationally for 3M, and always with a great passion on exceeding customer expectations. 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. Exelon Corporation. Kevin Rhodes is Executive Vice President and Chief Legal Affairs Officer, overseeing legal, compliance, government affairs and global security matters for 3M. 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. The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation 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. After submitting your request, you will receive an activation email to the requested email address. Retired Chairman of the Board and Chief Executive Officer, United Parcel Service, Inc. Executive Vice President and Chief Financial Officer, Microsoft Corporation, Retired Chairman of the Board and Chief Executive Officer, The Coca-Cola Company. 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. President and CEO, Edison International, the parent company of Southern California Edison (SCE), one of the nations largest electric utilities, since 2016. 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. 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. 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. Prior to 3M, Monish spent 26 years at GE where he held a variety of roles of increasing responsibility across GEs businesses. Mike later became general manager of 3M Spain. Ashish has been with the company for more than 26 years. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. 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 . The Company assumes no obligation to update or revise any forward-looking statements. 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). Eric serves on the boards of the U.S. Chamber of Commerce, St. Paul & Minnesota Foundation, and National Association of Manufacturing. Mr. Pizarro is a member of Edison International's Board of Directors. The brands listed above are trademarks of 3M. 224-1W-02 St. Paul, MN 55144-1000 Tel: (651) 737-6523 investorrelations@3M.com Retired Group Vice President, Global Purchasing, Ford Motor Company, a global automotive industry leader. 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 Shareholders can communicate with the Chairman of the Corporate Governance Committee or with the independent directors as a group by writing to them c/o: Gayle Littleton, Executive Vice President, General Counsel. Erics last role was Group President of Enterprise Operations, where he led global Manufacturing and Supply Chain for 3M, driving end-to-end optimization. "3M is a globally diverse company in so many dimensions," Ashish says. He previously had led 3Ms Digital Transformation, one of the companys three value creation levers. 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. These descriptions are fairly generic. By learning about the backgrounds of existing board members, you can extrapolate what they may be looking for in new ones. Retired Chairman of the Board and Chief Executive Officer, United Parcel Service, Inc., a provider of specialized transportation and logistics services. Ms. 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. Similar to last year, 63% of companies provide additional compensation to committee members. Mr. Brown is on the board of the following public company in addition to 3M: Tower International, Inc. The Boston Globe reports that the average time commitment to serve on a board is fewer than five hours per week. Over the years, he has held various positions of increasing responsibility in corporate research and division labs. Our household income is $240k and have $400k for down payment after selling all stocks. Ms. Kereere is also a longtime champion for equity and inclusion in business and society. I have been trying to get a review ever since and no one will say what is going on. 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. Bldg. In recent years, companies have also begun to seek ethnic and gender diversity on their boards. Outside directors who hold certain board positions receive an additional annual retainer:$35,000 for the lead independent director; $25,000 for audit committee members and for compensation, nominating, and governance committee members; and $20,000 for strategic planning and finance committee chairs and for technology and eCommerce committee chairs. 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. Why Investors Should Look at the Proxy Statement, Disney Names New Chair, Eases Park Rules Amid Proxy Battle. 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. Non-employee directors also receive an annual cash retainer of $100,000. Leadership is about serving more than yourself, he says. 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. 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. In early 2014, Ashish began leading one of 3Ms biggest businesses the Personal Safety Division and later that same year he was named the chief technology officer (CTO) and senior vice president of research and development of 3M. 3M Investor Relations Department This employer has claimed their Employer Profile and is engaged in the Glassdoor community. U.S. Securities and Exchange Commission. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. Tel: (651) 737-6523 Throughout Mikes career, he has lived and led businesses around the world, including the United States, Europe and Asia. In his free time, Kevin enjoys travel, outdoor activities including fishing, hiking and gardening, and spending time with his family. 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. The average mix across the entire sample is 43% cash and 57% equity. 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. Abbott Laboratories, Dept 364, Bldg. How accurate is this most likely Total Pay range (base + additional) of $270K-$455K/yr? 10 S. Dearborn St., 54th Floor. He returned to the Visual Systems Division before another posting in Italy as a laboratory and project manager. 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. In this role, he leverages his many years of experience as both a technology and business leader. 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. From 1997 to 1999 he served in leadership positions at United Technologies Corporation, including its Vice President, Supply Management. 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. Download required. On Fishbowl, you can share insights and advice anonymously with 3M employees and get real answers from people on the inside. 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. "U.S. company directors compensated more than ever, but now risk backlash.". He began his professional career as a senior research engineer in 3M laboratories in St. Paul. The estimated base pay is $176,111 per year. 4 0 obj In November 2021, Karina assumed her current role as senior vice president and chief strategy officer. 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. 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. Approximately 94% of companies denominate equity awards as a dollar value rather than as a fixed number of shares. Monish is a certified chartered accountant and a certified cost accountant from the Institute of Cost and Works Accountants of India. He led 3Ms International Finance organization, and also served four years as 3Ms Senior Vice President of FP&A and Chief Accounting Officer. Retired Chief Financial Officer, Accenture plc., a global management consulting, technology services and outsourcing company. 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. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. I took some time to think about it because the emotions of the time were raw and real, Garfield said. 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 . Retired Chairman of the Board and Chief Executive Officer, The Coca-Cola Company, the worlds largest beverage company. Chicago, IL 60603. In connection with Ms. Chow and Mr. Pizarro's election, the Board of Directors increased its size from 11 to 13 members. Eric Hammes is 3Ms executive vice president, chief country governance and services officer. He joined 3M in 1987 as a health care sales representative. You can sign up for additional alert options at any time. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. 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). 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. Inside directors, who are mostly C-suite level executives, don't receive additional compensation. Outside of work he enjoys reading, following college sports and spending time with his family. 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 new 2022 third edition of the survey contains over 1,200 responses, an increase of about 300 participants from the prior full version of the . Dr. Ashish Khandpur is group president of 3Ms Transportation and Electronics Business Group. He can also be found running, antiquing, reading science fiction and spending time with his family. 03.03.2023 - Leonteq AG / Key word(s): AGMEGM Press release: Leonteq publishes agenda and proposal of the Board of Directors for the Annual General Meeting 2023 03.03.2023 / 07:00 CET/CEST PRESS . In 2003 he joined McKinsey & Company, and in 2007 rejoined 3M and assumed responsibility for the overall planning and implementation of corporate strategic initiatives. From 1991 to 1997 he served as Executive Director, Purchasing and Transportation at QMS Inc. From 1976 to 1991 he served in various managerial roles at Digital Equipment Corporation. As a member of Board of Directors at 3M CO , Thomas made $320,487 in total compensation. He was appointed 3Ms chief technology officer and senior vice president of research and development in July 2017. 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.
Diablo Pickleball Club, Hcsc Board Of Directors 2020, St Joseph High School South Bend Tuition, Will Hochman Net Worth, Dale Tiffany Antiques Roadshow Collection, Articles OTHER