Its members include current board members, aspiring board members, and corporations looking to hire board members. endstream endobj startxref 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. 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. 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. 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. 102 0 obj <> endobj PDF 3M Company Board of Directors Compensation and Talent Committee Charter Once you find a good prospect, you must be nominated by the nomination committee, then approved by shareholder election. 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. My new VP is in the company less than 6m and in the position 3m. USW Proposal Spotlights Excessive 3M CEO Compensation The following chart summarizes total non-employee director pay levels and market capitalizations of the 300 companies in our study (100 companies in each size grouping): The complete publication is available here. 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. I am extremely thankful for the company and leaders I work for at 3M, Eric says. Kevin and his wife Melinda have three adult children. endstream endobj 103 0 obj <. 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. He then led Research & Development for the formerly Industrial Business Group initially in Asia Pacific and later globally. Mike serves as a member of the board of directors of The Toro Company and is a former trustee of the Science Museum of Minnesota. He was elected to the Cargill Board of Directors in 2000 and elected Chairman of the Board in 2007. Equity grants most commonly vest immediately, or cliff-vest after one year. Board membership is less stressful and time-consuming than earlier positions board members have taken on, while still offering an impressive income. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Mr. investorrelations@3M.com. Here are a couple of examples of what Fortune 500 companies pay their board members. "Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? 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. Walmart. Of this total $135,000 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, $185,000 . "People from all backgrounds and experiences work together and create new and differentiated solutions to solve our customers' and their customers' problems -- across so many industries and geographies.". You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. Page is on the board of the following public companies in addition to 3M: Eaton Corporation, Deere & Company. Complement your online networking with face-to-face connections at events, conferences, and social gatherings, he says. They range from recent retirees and people nearing retirement to younger people who've experienced early successes in business. Erics last role was Group President of Enterprise Operations, where he led global Manufacturing and Supply Chain for 3M, driving end-to-end optimization. This post is based on their FW Cook memorandum. He joined 3M in 1988 as a senior design engineer. [Br*L7r/Nv&rrzDGx0V:o,eIY^'(O >vXT cct"o3jvYEfp.w$}0BirMZIHI6M)9z?eOtp'pON{~YN>=mCs:a'heTb\G. 3M (NYSE: MMM) believes science helps create a brighter world for everyone. In January 2020, Environmental Responsibility was added to his role, including the Environment, Health and Safety organization. Non-employee directors also receive an annual cash retainer of $100,000. She is married with two teenage children, and enjoys hiking, baking, and exploring the world with her family. 3M Expands Board of Directors February 14, 2022. Tel: (651) 737-6523 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. 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. 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 . 3M Investor Relations Department 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. Before joining the Edison International companies, Mr. Pizarro was a senior engagement manager with McKinsey & Company. 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. Its about supporting constant iteration, until a point you make yourself obsolete.. 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. 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. Throughout his 20-year 3M career, Kevin has led legal teams in areas of increasing responsibility. He returned to the Visual Systems Division before another posting in Italy as a laboratory and project manager. Explore our Directors and their backgrounds. 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? Mike joined the company in 1992, shortly after earning a Ph.D. in chemistry from M.I.T. Thorough reviews have been conducted to assure this data accurately reflects disclosures. 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. You can sign up for additional alert options at any time. 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. Average compensation in 2018 at those firms was $304,856, according to Reuters. Working globally, and having led in United States, West Europe, and Asia Pacific, he has always focused on maximizing value for customers, employees, and shareholders. If you experience any issues with this process, please contact us for further assistance. 224-1W-02 St. Paul, MN 55144-1000 Tel: (651) 737-6523 investorrelations@3M.com During his assignment as the laboratory head in India, Ashish was responsible for establishing its first product development laboratory and capabilities. The Board of Directors (the "Board") of 3M Company ("3M" or the "Company") has adopted these guidelines, which in conjunction with the Certificate of Incorporation, Bylaws, and Board . She has lived and worked around the world for 3M, including in Asia Pacific, Europe and the United States. On Fishbowl, you can share insights and advice anonymously with 3M employees and get real answers from people on the inside. 224-1W-02 Outside of work, Peter enjoys hiking, reading, and supporting the Glasgow Celtic soccer club and serves on the boards of CP Kelco and the Jesuit School of Theology of Santa Clara University. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. 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. By learning about the backgrounds of existing board members, you can extrapolate what the company is probably looking for in new ones. In November 2021, Karina assumed her current role as senior vice president and chief strategy officer. Ms. Kereere served in leadership positions at American Express from 1988 to 2016, including as head of its U.S. National Merchant Business and Global Network Business. A. 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. Home to some of 3Ms most iconic brands, this business serves global consumers and consists of construction and home improvement, stationery and office supplies, home care, and consumer health care. Ownership guidelines are typically enforced via a years-to-achieve rule (66% prevalence), a retention/holding requirement (11% prevalence), or a combination of the two (23% prevalence). 3M Company Board of Directors Compensation Committee Charter (As Amended February 10, 2003) A. In recent years, companies have also begun to seek ethnic and gender diversity on their boards. That's a 43% increase over 10 years. 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. It regularly meets in executive session, without the presence of Rogers' management. Dont have any other debt - however this expensive mortgage would take half my monthly salary (post tax).. 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. 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. . Ms. Kereere is also a longtime champion for equity and inclusion in business and society. Ms. Chow earned her bachelor's and master's degrees in electrical engineering, and a master's degree in business administration, from Cornell University. Mr. Dillon served as a Director of the Kroger Co. from 1995 through 2014. ", Reuters. As a board member, your responsibilities would typically include preparing for and attending board meetings, and reviewing company filings and materials, she says, as well as advising management on a wide range of matters, including succession, strategy, compensation, and acquisitions. Dr. Moyo earned a bachelors degree in chemistry and MBA degree in Business Administration from American University, an M.P.A. He served as Coca-Colas Chief Executive Officer from July 2008 to April 2017. The Boston Globe reports that the average time commitment to serve on a board is fewer than five hours per week. Chairman of the Board and Chief Executive Officer, Executive Vice President, Chief Technology Officer and Environmental Responsibility, Senior Vice President and Chief Strategy Officer, Executive Vice President and Chief Human Resources Officer, Executive Vice President, Chief Country Governance and Services Officer, Group President, Transportation & Electronics, Group President, Consumer and Interim Group President, Health Care, Executive Vice President, Chief Information and Digital Officer, Executive Vice President, Chief Financial and Transformation Officer, Executive Vice President and Chief Legal Affairs Officer, Caution Concerning Forward-Looking Statements, SDS, RDS, More Regulatory & Compliance Information. As a member of Board of Directors at 3M CO, Muhtar Kent made $340,917 in total compensation. In his 35-year career with the company, he has played a key role in its transformation, from lower-margin, commodity businesses to one more deeply focused on higher-growth consumer demand-driven markets that value innovation. St. Paul, MN 55144-1000 By learning about the backgrounds of existing board members, you can extrapolate what they may be looking for in new ones. 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? Anne Chow and Pedro Pizarro elected to 3M Board of Directors The average mix across the entire sample is 43% cash and 57% equity. In his free time, he enjoys spending time with his wife and three kids, as well as a variety of outdoor activities including hiking, biking and fishing. <> 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. 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. "Definitive Proxy Statement, Apple 2021. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. Mark holds a bachelors degree in electrical engineering from Purdue University, and an M.B.A. from Indiana University. 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).
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