It regularly meets in executive session, without the presence of Rogers' management. I am starting to look elsewhere but I have great WFH life now. Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. 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. Hood joined Microsoft in 2002, and through her tenure with the company has advanced momentum in cloud and helped digitally transform the company. "Definitive Proxy Statement, Apple 2021. Bldg. Small-cap companies tend to have the highest cash weighting (average of 47%) and large-cap companies tend to have the lowest (average of 37%). One of our four strategic priorities at 3M is People & Culture because we know we will drive growth in our business and change in our communities by developing talent in an inclusive environment, Zoe says. Leaders serve by creating an inclusive environment which values diverse perspectives, teamwork and innovation. <> hb```e``3,00```T~s@@(` Mr. 102 0 obj <> endobj 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. 3M has added Suzan Kereere to its board of directors. An audit committee is the part of a company's board of directors in charge financial reporting and disclosure. 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. 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. You can sign up for additional alert options at any time. 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. This is a defining time for all companies and 3M is no different in that respect, Scott said. 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. Erics last role was Group President of Enterprise Operations, where he led global Manufacturing and Supply Chain for 3M, driving end-to-end optimization. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. 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. Dr. Moyo earned a bachelors degree in chemistry and MBA degree in Business Administration from American University, an M.P.A. 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). Mr. Pizarro served as president of SCE from 2014 to 2016. "Anne has decades of experience in technology and business, and a proven track record of transforming global organizations and community engagement. Mr. Brown served in various leadership capacities in global purchasing since joining Ford in 1999. Mr. Pizarro served as president of SCE from 2014 to 2016. endstream endobj startxref Equity grants most commonly vest immediately, or cliff-vest after one year. Averages based on self-reported salaries. Tel: (651) 737-6523 from Grinnell College. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. Sales Compensation Trends Revealed in New Survey. Chairman and Chief Executive Officer of Dow, Inc., a leading global materials science company. That's a 43% increase over 10 years. 3M has increased its dividend for 64 straight years. In 2003 he joined McKinsey & Company, and in 2007 rejoined 3M and assumed responsibility for the overall planning and implementation of corporate strategic initiatives. He can also be found running, antiquing, reading science fiction and spending time with his family. Serving on a corporate board of directors can be a lucrative side gig or second career for high-profile executives and recent retirees. President and CEO, Edison International, the parent company of Southern California Edison (SCE), one of the nations largest electric utilities, since 2016. "U.S. company directors compensated more than ever, but now risk backlash.". Incorporation is the legal process by which a business entity is formed. The 3M board of directors is mostly composed of former CEOs. 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. Exelon Corporation. View SAI KRISHNA.docx from STAT 5561 at University of Missouri, Kansas City. 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. 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. Kereere has over 20 years of experience in leading global . 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. Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. oYgd=??/_C|72KFSI. Ms. Chow is on the board of the following public company in addition to 3M: FranklinCovey. 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. She earned her degree in manufacturing engineering from Brunel University London, and diploma in personnel management from Thames Valley University. Throughout his career he has led large technology transformations including SAP implementations, digital initiatives and cybersecurity. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. The brands listed above are trademarks of 3M. As vice president of operational transformation, he led the companys transformation initiatives driving operating rigor and lean management across the company. Learn how this feature works. Prior to 3M, she served as a business leader and consultant for various companies in Mexico and Europe. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. Retired Chairman of the Board and Chief Executive Officer, United Parcel Service, Inc., a provider of specialized transportation and logistics services. Of this total $47,843 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 . 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. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. This would be in addition to the peer group benchmarks (what other CEOs make) that the company uses to determine CEO compensation. Mike is most proud of seeing the success of coworkers and people he has mentored during his time at the company. 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. In this role, Kevin led ongoing efforts during the COVID-19 pandemic to combat fraud, counterfeiting, and price gouging of N95 respirators. He enjoys pushing himself mentally and physically in a broad range of athletics. Explore our Directors and their backgrounds. Ms. Chow earned her bachelor's and master's degrees in electrical engineering, and a master's degree in business administration, from Cornell University. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. By learning about the backgrounds of existing board members, you can extrapolate what the company is probably looking for in new ones. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. You can sometimes learn what companies seek in their board members by reading the companys annual proxy statement. Lodestone Global. Lead, Columbia University's SIPA Tech & Policy Initiative; . 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. The Boston Globe reports that the average time commitment to serve on a board is fewer than five hours per week. ", Veritas. Ms. Kereere is also a longtime champion for equity and inclusion in business and society. 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. Kevin and his wife Melinda have three adult children. A fiduciary is a person or organization that acts on behalf of a person or persons and is legally bound to act solely in their best interests. 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. 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. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. Retired Chief Financial Officer, Accenture plc., a global management consulting, technology services and outsourcing company. Our household income is $240k and have $400k for down payment after selling all stocks. 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? "The Types of Directors," Pages 1-2. Prior to 3M, Mark served as Chief Information Officer for Abbott Laboratories where he had global responsibilities for Abbotts technology landscape. He previously served as chief operating officer, led 3Ms largest business group and was chief strategist. 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. Dr. Moyo is a global economist and author who analyzes the macroeconomy and international affairs. 3M Investor Relations Department 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. In 2016, John moved to West Europe to serve as managing director of 3Ms D-A-CH region, which represents the companys combined operations in Germany, Austria and Switzerland. He was elected to the Cargill Board of Directors in 2000 and elected Chairman of the Board in 2007. Complement your online networking with face-to-face connections at events, conferences, and social gatherings, he says. 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. Before joining the Edison International companies, Mr. Pizarro was a senior engagement manager with McKinsey & Company. endstream endobj 103 0 obj <. Boards aren't entirely made up of retirees and people nearing the end of their careers. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. He returned to the Visual Systems Division before another posting in Italy as a laboratory and project manager. 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(NYSE: MMM) believes science helps create a brighter world for everyone. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. 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. Get a free, personalized salary estimate based on today's job market. For its 2021 fiscal year, 3M CO, listed the following board members on its annual proxy statement to the SEC. 3M Expands Board of Directors February 14, 2022. 10 S. Dearborn St., 54th Floor. Jeff has lived and worked internationally for 3M, and always with a great passion on exceeding customer expectations. 3M Company Board of Directors Compensation Committee Charter (As Affirmed February 5, 2019) A. Before that, he served as president and chief operating officer of Dow and also previously served as chief operating officer for the Materials Science division of DowDuPont. A non-executive director is a member of a company's board of directors who is not part of the executive team. The Technology and Industrials sectors have the highest prevalence of stock options at 18% and 10% prevalence, respectively, granted in isolation or in tandem with full-value stock awards. The estimated additional pay is $170,007 per year. Its about creating an environment that unlocks the full potential of teams and individuals and, as a result, achieves even higher performance and more engaged employees..
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