3m board of directors compensation

Outside of work he enjoys reading, following college sports and spending time with his family. CleanLink News. 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. 3M (NYSE: MMM) believes science helps create a brighter world for everyone. A. 224-1W-02 She earned a B.A. 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. You can sometimes learn what companies seek in their board members by reading the companys annual proxy statement. 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. 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. periodically receive reports on the status of Board compensation in relation to other large U.S. companies and is responsible for recommending to . 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. President and CEO, Edison International, the parent company of Southern California Edison (SCE), one of the nations largest electric utilities, since 2016. 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. How accurate is this most likely Total Pay range (base + additional) of $270K-$455K/yr? Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. 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. Explore our Directors and their backgrounds. He leads a global Legal Affairs team that helps guide business opportunities, address enterprise risks, protect intellectual property, shape the development of law and policy, and strengthen compliance and security. 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. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. For online networking, Mark Rogers, CEO of BoardProspects.com, recommends his site, a board-recruitment network akin to LinkedIn. You can sign up for additional alert options at any time. ", Boston Globe. Mr. Dillon served as a Director of the Kroger Co. from 1995 through 2014. 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. Board of Directors | Corporate Governance | Dow Investor Relations He is a member of the Marketing Leadership Council and serves on several non-profit and community boards. In this role, Kevin led ongoing efforts during the COVID-19 pandemic to combat fraud, counterfeiting, and price gouging of N95 respirators. The most common director ownership guideline is 5x the annual cash retainer with a 5-year timeframe to meet the guideline. The information shown here is a reporting of information included in the company's proxy statement. So what does he do when hes not in the office? Related Searches:All Director Salaries|All 3M Salaries. Ms. Lynch has helmed CVS Health since February 2021 and leads more than 300,000 employees, according to a . She has lived and worked around the world for 3M, including in Asia Pacific, Europe and the United States. Hornbaker also recommends becoming educated on the fundamentals of governance and directorship through a program such as the National Association of Corporate Directors Director Professionalism program. You will compete for board positions with people who have been extremely successful at a young age. Possessing a wealth of experience in manufacturing and supply chain operations, Peter previously held senior-level executive positions at Mattel, Starbucks and ICI Paints North America. 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. Anne Chow and Pedro Pizarro elected to 3M Board of Directors He has held a wide range of other senior executive positions at the Edison International companies since joining in 1999. 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. Another example would be compensation meetings to discuss compensation plans and awards.. 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. He has held a wide range of other senior executive positions at the Edison International companies since joining in 1999. Director Compensation - The Conference Board Tel: (651) 737-6523 What Is the Salary of the Federal Reserve Chair? Bldg. 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 $917 came from other . Could you fill that gap? This employer has claimed their Employer Profile and is engaged in the Glassdoor community. Words such as plan, expect, aim, believe, project, target, anticipate, intend, estimate, will, should, could, forecast and other words and terms of similar meaning, typically identify such forward-looking statements. hbbd``b`$fH0@= , VDtbc a`$2012| 224-1W-02 St. Paul, MN 55144-1000 Tel: (651) 737-6523 investorrelations@3M.com Serving on a corporate board of directors can be a lucrative side gig or second career for high-profile executives and recent retirees. Leadership is about connecting with and inspiring others to achieve their best, Mark says. <> Mr. Dillon served as President from 1995 to 2003 and was elected Executive Vice President in 1990. 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. 3M (NYSE: MMM) announced today that Anne H. Chow, retired chief executive officer of ATT 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. In his free time, Kevin enjoys travel, outdoor activities including fishing, hiking and gardening, and spending time with his family. 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. 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. She has been married more than 20 years, with two teenage kids. That year's top payer was Goldman Sachs Group Inc., which paid its directors an average of $599,279. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. 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. St. Paul, MN 55144-1000 oYgd=??/_C|72KFSI. Chairman of the Board and Chief Executive Officer of 3M Company. Similar to last year, 63% of companies provide additional compensation to committee members. 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. She is married with two teenage children, and enjoys hiking, baking, and exploring the world with her family. 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. 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. Edison International is also the parent company of Edison Energy, a portfolio of competitive businesses providing commercial and industrial customers with energy management and procurement services. At 3M, we promise to treat your data with respect and will not share your information with any third party. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. Kevin is a registered patent attorney and has served as President of the Intellectual Property Owners Association and the Association of Corporate Patent Counsel, as well as Chair of the Steering Committee of the Coalition for 21st Century Patent Reform. Mr. "People from all backgrounds and experiences work together and create new and differentiated solutions to solve our customers' and their customers' problems -- across so many industries and geographies.". The prevalence of committee member retainers has been stable year-over-year, while the use of committee meeting fees continues to decrease. 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. He can also be found running, antiquing, reading science fiction and spending time with his family. Mr. Pizarro served as president of SCE from 2014 to 2016. in Economics from Instituto Tecnolgico Autnomo de Mexico, a Masters in Economics for Development from Oxford University in the United Kingdom, and an MBA from Universit Libre de Bruxelles in Belgium. 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. stream 3M Expands Board of Directors - ISSA 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 Prior to 3M, she served as a business leader and consultant for various companies in Mexico and Europe. Karina led strategic planning for the companys international operations and served as managing director for 3M Indonesia. Kevin and his wife Melinda have three adult children. Here are a couple of examples of what Fortune 500 companies pay their board members. Leadership is about serving more than yourself, he says. Mr. Pizarro served as president of SCE from 2014 to 2016. 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. "Anne has decades of experience in technology and business, and a proven track record of transforming global organizations and community engagement. John has a Ph.D. in inorganic chemistry from Stanford University, and a bachelors degree in chemistry from Hamline University. 3M Investor Relations Department Kevin is a champion for diversity and inclusion in the legal profession, growing talent and serving communities. 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. 3m Compensation Plan For Non-employee Directors 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. Dr. Moyo is a global economist and author who analyzes the macroeconomy and international affairs. President Joe Biden intends to name Karen Lynch, CEO of CVS Health, to his Export Council. Tel: (651) 737-6523 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. 0 The median compensation for members of private company boards of directors was $44,850 in 2021, according to a global study by Lodestone Global. From December 2006 through June 2008, Mr. Kent served as President and Chief Operating Officer of The Coca-Cola Company. As vice president of operational transformation, he led the companys transformation initiatives driving operating rigor and lean management across the company. They range from recent retirees and people nearing retirement to younger people who've experienced early successes in business. 3M Expands Board of Directors February 14, 2022. She is deeply involved in the companys operations, as well as the strategy development and overall execution of the companys successful acquisitions of LinkedIn and GitHub. 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.". He served in that role until 2012, when he became global business director for 3M's Industrial Adhesives and Tapes Division. 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. 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. About3M Chairman and Chief Executive Officer of Dow, Inc., a leading global materials science company. Dr. Moyo was Chief Executive of Officer of Mildstorm LLC, a financial and economics firm, from 2015 to 2021. If you experience any issues with this process, please contact us for further assistance. 3M CO annual reports of executive compensation and pay are most commonly found in the Def 14a documents. 3M News Center - Press Releases The Company assumes no obligation to update or revise any forward-looking statements. 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. Sleep, Mike jokes, though he will say more seriously that he tries to focus his energies where they will do the most good. How Much Board of Directors Members Get Paid and What They Do For the past eight years, Ms. Mr. Pizarro earned his bachelor's degree in chemistry from Harvard University and his Ph.D. in chemistry from the California Institute of Technology. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. U.S. company directors compensated more than ever, but now risk backlash, Few Hours, Soaring Pay for Corporate Board Members. Personal health and fitness are his passion. Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. A non-executive director is a member of a company's board of directors who is not part of the executive team. Boards aren't entirely made up of retirees and people nearing the end of their careers. 10 S. Dearborn St., 54th Floor. In his current position, John remains focused on driving change, challenging the status quo and helping develop the 3M leaders of tomorrow. 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 Outside of work, Monish enjoys reading, music, watching cricket, playing tennis or badminton and spending time with his family. Fixed retainers remain more prevalent than meeting fees as the means to deliver additional compensation. Hornbaker says pay depends on the complexity of the company, whether it's public or private, the number of meetings it entails, and the amount of responsibility involved. %PDF-1.6 % Mike became chairman of the board in May 2019 and chief executive officer in July 2018. Not surprisingly, the most lucrative seats go to directors at S&P 500 companies. 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. Rogers adds, Board members are the representatives of the shareholders, and it is their fiduciary duty to oversee the affairs of the corporation, including overall performance and fiscal strength, and to serve as a consultant for managementparticularly with respect to the strategic and operational directives of the company.. Mr. Roman is on the board of the following organizations in addition to 3M: Abbott Laboratories, University of Minnesota Foundation Board of Trustees. Throughout Mikes career, he has lived and led businesses around the world, including the United States, Europe and Asia. Board of Directors: What It Is, What Its Role Is, Incorporation: Definition, How It Works, and Advantages, Audit Committee: Definition, How They're Used, and Purpose, What Is a Proxy Statement? He led 3Ms International Finance organization, and also served four years as 3Ms Senior Vice President of FP&A and Chief Accounting Officer. 3M Company Board of Directors Compensation Committee Charter (As Amended February 10, 2003) A. 3M - Governance - Governance Documents The median decrease in director compensation was 50% at S&P 500 companies and 40% at Russell 3000 companies. Dont have any other debt - however this expensive mortgage would take half my monthly salary (post tax).. Retired Chairman and Chief Executive Officer of Cargill. Prior to 3M, Monish spent 26 years at GE where he held a variety of roles of increasing responsibility across GEs businesses. You can sign up for additional alert options at any time. Mike and his family enjoy a variety of physical fitness and outdoor activities. Prior to her current role, Ms. Kereere served as Fiservs Chief Growth Officer, leading strategy and business development to enhance client value and accelerate growth. Pedro brings skills and experience in leading large companies and driving strategic improvements, and a deep understanding of the power of materials science to improve the world. PDF 3M Company Board of Directors Compensation Committee Charter (As Mr. Dillon is on the board of the following public company in addition to 3M: Union Pacific Corporation. Aptiv PLC (Compensation and Human Resources, and Nominating and Governance committees) Additional Positions. Compensation for board members can easily reach $300,000 to $500,000 a year, according to Veritas, an executive compensation consulting service. Retired Chairman of the Board and Chief Executive Officer, United Parcel Service, Inc., a provider of specialized transportation and logistics services. Corporate boards are made up of highly successful executive outsiders. Retired Chairman of the Board and Chief Executive Officer, Cargill, Chairman of the Board and Chief Executive Officer, Caution Concerning Forward-Looking Statements, SDS, RDS, More Regulatory & Compliance Information. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Only outside directors get compensation specifically for serving on the board. Ms. Investopedia requires writers to use primary sources to support their work. It operates through the following segments: Safety and Industrial,. Most recently he served as CFO of GE Healthcare. endobj 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 most recently was Senior Vice President and Deputy General Counsel, advising senior management and the Board of Directors on legal issues. Description 3M Co. 3M Co. is a technology company, which manufactures industrial, safety, and consumer products. Over the years, he has held various positions of increasing responsibility in corporate research and division labs. Ferguson & Co, a former KPMG affiliate.

3m board of directors compensation 2023