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. "2020 Proxy Statement," Page 12. 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. 3M Company Board of Directors Compensation Committee Charter (As Affirmed February 5, 2019) A. Dr. Moyo was Chief Executive of Officer of Mildstorm LLC, a financial and economics firm, from 2015 to 2021. He was assigned to lead 3Ms $5.5B Electronics & Energy Business Group in July 2017. 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. . 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. About3M Mr. Brown served in various leadership capacities in global purchasing since joining Ford in 1999. Throughout her career she has led successful transformation, sales and customer initiatives at Fortune 100 companies across global business lines and regional high-growth start-ups. 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. In this role, he leverages his many years of experience as both a technology and business leader. 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. 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 . Chairman of the Board and Chief Executive Officer of 3M Company. On Fishbowl, you can share insights and advice anonymously with 3M employees and get real answers from people on the inside. The board chair receives an additional $200,000; the audit committee chair receives an additional $35,000; the compensation committee chair receives an additional $30,000, and the nominating committee chair receives an additional $25,000. Monish is a certified chartered accountant and a certified cost accountant from the Institute of Cost and Works Accountants of India. 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. 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. Leadership is facilitating and embracing evolution, and accompanying the paths for change, Karina says. You can sign up for additional alert options at any time. The information shown here is a reporting of information included in the company's proxy statement. @,s30_j0 \ periodically receive reports on the status of Board compensation in relation to other large U.S. companies and is responsible for recommending to . 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. Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? He was appointed 3Ms chief technology officer and senior vice president of research and development in July 2017. 224-1W-02 For nine straight years, 3M has been recognized by Ethisphere as one of the Worlds Most Ethical Companies. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. How accurate is this most likely Total Pay range (base + additional) of $270K-$455K/yr? Exelon Corporation. In connection with Ms. Chow and Mr. Pizarro's election, the Board of Directors increased its size from 11 to 13 members. (2005-2013) (alternate member of the Board of Directors, (1999 to 2005)) Previous experience. 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. The Company assumes no obligation to update or revise any forward-looking statements. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. He serves on the board of Abbott Laboratories and on the University of Minnesota Foundation Board of Trustees. Engage in conversations about Director pay with other professionals in the community. 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. Board members in general, by the way, participated in an average of 7.9 meetings, in person or remotely, during the year. This report is not for commercial use. A non-executive director is a member of a company's board of directors who is not part of the executive team. He was appointed to the Board of Directors in October 2009, and became Chief Executive Officer of Textron in December 2009 and Chairman of the . He led 3Ms International Finance organization, and also served four years as 3Ms Senior Vice President of FP&A and Chief Accounting Officer. View SAI KRISHNA.docx from STAT 5561 at University of Missouri, Kansas City. U.S. Securities and Exchange Commission. The most common director ownership guideline is 5x the annual cash retainer with a 5-year timeframe to meet the guideline. You must click the activation link in order to complete your subscription. investorrelations@3M.com. This post is based on their FW Cook memorandum. 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. 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. Non-employee directors also receive an annual cash retainer of $100,000. Ms. Lynch has helmed CVS Health since February 2021 and leads more than 300,000 employees, according to a . He returned to the Visual Systems Division before another posting in Italy as a laboratory and project manager. 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). President and CEO, Edison International, the parent company of Southern California Edison (SCE), one of the nations largest electric utilities, since 2016. 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. Related Searches:All Director Salaries|All 3M Salaries. To effectively drive growth, it is important to keep the customer at the center of everything we do. If you experience any issues with this process, please contact us for further assistance. VUL^07d=xy2 *'..j(( Hs00 ST. PAUL, Minn., Feb. 9, 2022 /PRNewswire/ -- 3M (NYSE: MMM) announced today that Suzan Kereere, Head of Global Business Solutions at Fiserv, Inc., has been elected to 3M's Board of Directors, effective February 10, 2022.In connection with Ms. Kereere's election, the Board of Directors increased its size from 12 to 13 members. She earned a B.A. Three years later, he was tapped to lead 3Ms corporate research lab. Investopedia requires writers to use primary sources to support their work. 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. 2 0 obj The companys financial objectives include continuing to grow above the markets it serves, expand margins and generate strong cash flow. ", Boston Globe. 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. 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. Ive been fortunate enough to see this company from many, many anglesand 3M is impressive no matter where you are in the world.. Approximately 94% of companies denominate equity awards as a dollar value rather than as a fixed number of shares. According to the company's 2021 proxystatement, Walmarts compensation program for outside directors offers base compensation of a $175,000 annual stock grant and a $100,000 annual retainer. c/o Abbott Corporate Secretary. John came to 3M in 1995 as a research chemist in the corporate R&D organization, working primarily on acrylic adhesives and tapes. 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 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. A board of directors (B of D) is the governing body of a company, elected by shareholders to set strategy and oversee management. Download required. 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. Throughout her life and career, Karina has lived and worked around the world. 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. The brands listed above are trademarks of 3M. Similar to last year, 63% of companies provide additional compensation to committee members. His growth mindset, inclusive leadership, and orientation toward developing talent and culture has helped him lead highly successful complex changes and significant transformation. Mr. 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.". She previously held executive leadership roles in global merchant sales and acquiring at Visa from 2016 to 2021. I was offered a promotion & salary increase (66k to 96k) in Dec but then in Jan the company fired my country VP who made the offer. It claims that including the USW proposal would involve "significant time, cost and resource . Ms. Kereere is also a longtime champion for equity and inclusion in business and society. In 2008, he returned to the U.S. to become vice president and general manager of Aearo Technologies LLC, which 3M acquired that year. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. I have been trying to get a review ever since and no one will say what is going on. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. % Another example would be compensation meetings to discuss compensation plans and awards.. investorrelations@3M.com. investorrelations@3M.com. Incorporation is the legal process by which a business entity is formed. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. 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 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. Approximately 90% of companies in the sample grant full-value stock awards exclusively (i.e., no stock options). The information on this website, including any documents posted herein, contains a significant amount of information about 3M. This compensation may impact how and where listings appear. They also recommended doing away with pension and . Lead, Columbia University's SIPA Tech & Policy Initiative; . Walmart. Hood joined Microsoft in 2002, and through her tenure with the company has advanced momentum in cloud and helped digitally transform the company. Anne Chow's career in the technology and business sectors spans over three decades. For example, audit committees have regular meetings before public filings, she says. 4 0 obj 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. Ms. Inside directors, who are mostly C-suite level executives, don't receive additional compensation. 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 . 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. You can sign up for additional alert options at any time. Mr. Pizarro served as president of SCE from 2014 to 2016. 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. Dont have any other debt - however this expensive mortgage would take half my monthly salary (post tax).. Ms. Chow is on the board of the following public company in addition to 3M: FranklinCovey. Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. Get a free, personalized salary estimate based on today's job market. He enjoys pushing himself mentally and physically in a broad range of athletics. He received his J.D., magna cum laude, from Northwestern University; and his B.A. Not surprisingly, the most lucrative seats go to directors at S&P 500 companies. "Few Hours, Soaring Pay for Corporate Board Members.". The Company assumes no obligation to update or revise any forward-looking statements. Mike joined the company in 1992, shortly after earning a Ph.D. in chemistry from M.I.T. 3Ms purpose drives its performance, and the company is advancing four strategic priorities to support long-term value creation: Portfolio Management, Transforming the 3M Operating Model, Growth through Innovation, and People and Culture. A proxy statement is a document the SEC requires companies to provide shareholders that includes information needed to make decisions at shareholder meetings. %PDF-1.7 Thorough reviews have been conducted to assure this data accurately reflects disclosures. Amy Fontinelle has more than 15 years of experience covering personal finance, corporate finance and investing. 3M has added Suzan Kereere to its board of directors. 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. A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. 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. oYgd=??/_C|72KFSI. She also worked at the World Bank in Washington, D.C. from 1993 to 1995. For the past eight years, Ms. 3 0 obj 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. 3M(NYSE: MMM) believes science helps create a brighter world for everyone. He most recently was Senior Vice President and Deputy General Counsel, advising senior management and the Board of Directors on legal issues. 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. All proxy statements are public filings made available to the general public by the SEC. Equity grants most commonly vest immediately, or cliff-vest after one year. 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). endstream endobj 103 0 obj <. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Hood has acted as a strategic partner to Microsoft CEO Satya Nadella, propelling long-term financial growth, championing culture and driving corporate initiatives including Microsofts climate and affordable housing commitments, that have bolstered the companys broader ecosystem. 123 0 obj <>stream Our household income is $240k and have $400k for down payment after selling all stocks. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. 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. The estimated base pay is $176,306 per year. Kevin Rhodes is Executive Vice President and Chief Legal Affairs Officer, overseeing legal, compliance, government affairs and global security matters for 3M. "Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? Erics last role was Group President of Enterprise Operations, where he led global Manufacturing and Supply Chain for 3M, driving end-to-end optimization. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. hb```e``3,00```T~s@@(` x\s6(uj L3#inj'Flt?MR4(X,v _u]o_m-W?wpys1_#i5HJ He serves on the boards of Special Olympics International, Cambridge China Development Trust, Council on Foreign Relations, and Emory University. Eric Hammes is 3Ms executive vice president, chief country governance and services officer. That year's top payer was Goldman Sachs Group Inc., which paid its directors an average of $599,279. Mr. The report is complemented by an online dashboard, which enables users to delve into the most recent corporate disclosures by Russell 3000 companies and review individual elements of compensation packages, supplemental compensations for committee service . The 3M board of directors is mostly composed of former CEOs. Ashish has been with the company for more than 26 years. hbbd``b`$fH0@= , VDtbc a`$2012| 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. Mr. Pizarro is a member of Edison International's Board of Directors. 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. 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.. 3M Investor Relations Department Mr. Brown is on the board of the following public company in addition to 3M: Tower International, Inc. Mike became chairman of the board in May 2019 and chief executive officer in July 2018. Approximately 85% of companies have director ownership guidelines, while stock retention requirements are less common, present at 42% of companies. Leadership is about serving more than yourself, he says. 1 0 obj ", Reuters. You must click the activation link in order to complete your subscription. Most recently he served as CFO of GE Healthcare. 3M CO annual reports of executive compensation and pay are most commonly found in the Def 14a documents. This employer has claimed their Employer Profile and is engaged in the Glassdoor community. News & Views 2/17/2022 3M Adds To Board Of Directors. Lodestone Global. 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. Eric serves on the boards of the U.S. Chamber of Commerce, St. Paul & Minnesota Foundation, and National Association of Manufacturing. As a member of Board of Directors at 3M CO, Muhtar Kent made $340,917 in total compensation.

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