Effective April 1, 2019, Ashish was appointed to lead the newly created 3Ms Transportation and Electronics Business Group, with total revenues of approximately $10B. 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 . FW Cook's 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. U.S. company directors compensated more than ever, but now risk backlash, Few Hours, Soaring Pay for Corporate Board Members. The Company assumes no obligation to update or revise any forward-looking statements. 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. John came to 3M in 1995 as a research chemist in the corporate R&D organization, working primarily on acrylic adhesives and tapes. Fixed retainers remain more prevalent than meeting fees as the means to deliver additional compensation. 224-1W-02 Pedro Pizarro has been President and CEO of Edison International, the parent company of Southern California Edison (SCE), one of the nation's largest electric utilities, since 2016. endstream endobj startxref Zoe is a chartered member of Chartered Institute of Personnel & Development. For its 2021 fiscal year, 3M CO, listed the following board members on its annual proxy statement to the SEC. The estimated total pay for a Director at 3M is $345,577 per year. 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. 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. . Bldg. Not surprisingly, the most lucrative seats go to directors at S&P 500 companies. Formal board meetings where all the directors are present typically occur four to six times per year, depending on the company. You must click the activation link in order to complete your subscription. As a member of Board of Directors at 3M CO , Vance D. Coffman made $107,459 in total compensation. hbbd``b`$fH0@= , VDtbc a`$2012| 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. 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. In 2017 she was named global business director for 3Ms home improvement business, until 2020 when she became senior vice president for customer operations. 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. %PDF-1.6 % He joined 3M in 1988 as a senior design engineer. An audit committee is the part of a company's board of directors in charge financial reporting and disclosure. 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 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). Retired Chairman of the Board and Chief Executive Officer, United Parcel Service, Inc., a provider of specialized transportation and logistics services. 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.". Average compensation in 2018 at those firms was $304,856, according to Reuters. CVS Health CEO tapped for Biden's Export Council 2 0 obj The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. I have been an Office Manager 21 yrs. 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. On Fishbowl, you can share insights and advice anonymously with 3M employees and get real answers from people on the inside. To effectively drive growth, it is important to keep the customer at the center of everything we do. Before joining the Edison International companies, Mr. Pizarro was a senior engagement manager with McKinsey & Company. The Company assumes no obligation to update or revise any forward-looking statements. 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 Mr. Pizarro earned his bachelor's degree in chemistry from Harvard University and his Ph.D. in chemistry from the California Institute of Technology. Ashish has a strong technical background and has authored 10 patents. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. In this role, he leverages his many years of experience as both a technology and business leader. Exelon Corporation. The information shown here is a reporting of information included in the company's proxy statement. He was most recently head of 3Ms Health Care Business Group, and prior to that led the companys Consumer Business Group. He has held a wide range of other senior executive positions at the Edison International companies since joining in 1999. Kevin is a champion for diversity and inclusion in the legal profession, growing talent and serving communities. 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. 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. [email protected]. Tel: (651) 737-6523 Mr. Fitterling is also a passionate advocate for inclusion and diversity with a focus on diversifying Dows global talent, enhancing innovation and the customer experience, and strengthening relationships in the communities the company serves. 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. 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.. PDF The Board of Directors (the "Board") of 3M Company ("3M" or the Apples non-employee directors each receive approximately $250,000 worth of restricted stock units per year, which are granted at the annual shareholder meeting and vest on Feb. 1 of the following year. 3M CO Board Member Vance D. Coffman | Salary.com The brands listed above are trademarks of 3M. 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. Ms. Chow 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. So what does he do when hes not in the office? 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 . This would be in addition to the peer group benchmarks (what other CEOs make) that the company uses to determine CEO compensation. 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. 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. 224-1W-02 Make sure you develop a board resume that positions you as qualified for the corporations board, says Rene Hornbaker, who currently serves on the boards of Eastman Chemical Company, The Freeman Company, and Tri Global Energy. 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. Why Investors Should Look at the Proxy Statement, Disney Names New Chair, Eases Park Rules Amid Proxy Battle. Mike is most proud of seeing the success of coworkers and people he has mentored during his time at the company. Eric Hammes is 3Ms executive vice president, chief country governance and services officer. He is a member of the Marketing Leadership Council and serves on several non-profit and community boards. 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. Ashish is a trained Chemical Engineer, with a bachelors degree from Indian Institute of Technology, Delhi, and a Ph.D. from the University of Minnesota. Throughout his 20-year 3M career, Kevin has led legal teams in areas of increasing responsibility. Mike holds a masters degree in Electrical Engineering from the University of Southern California, and a bachelors degree from the University of Minnesota. Averages based on self-reported salaries. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. 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. Abbott Laboratories, Dept 364, Bldg. After spending almost two years with Aearo integrating it into 3M, Mike became managing director of 3M Brazil in 2009. Board of directors - Leadership and Governance - Exelon Your strategy to get noticed and be considered for board membership should be similar to the strategy it takes to secure any high-level position. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. "People achieve great things when they are embraced and valued; when they are connected, not isolated; and when their intelligence and imagination are unleashed". In 2003 he joined McKinsey & Company, and in 2007 rejoined 3M and assumed responsibility for the overall planning and implementation of corporate strategic initiatives. 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 . My new VP is in the company less than 6m and in the position 3m. Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? 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 approves the compensation for the CEO and other senior executives, . 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. He previously had led 3Ms Digital Transformation, one of the companys three value creation levers. President and CEO, Edison International, the parent company of Southern California Edison (SCE), one of the nations largest electric utilities, since 2016. About3M St. Paul, MN 55144-1000 ", Veritas. Three years later, he was tapped to lead 3Ms corporate research lab. St. Paul, MN 55144-1000 She also worked at the World Bank in Washington, D.C. from 1993 to 1995. That's actually a 5% increase from the year before . Mr. Brown is on the board of the following public company in addition to 3M: Tower International, Inc. The Technology sector provides the highest median equity retainer ($161,595) and Financial Services the lowest ($100,000). 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. The prevalence of committee member retainers has been stable year-over-year, while the use of committee meeting fees continues to decrease. A non-executive director is a member of a company's board of directors who is not part of the executive team. ", Boston Globe. 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. endobj Board members in general, by the way, participated in an average of 7.9 meetings, in person or remotely, during the year. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. As vice president of operational transformation, he led the companys transformation initiatives driving operating rigor and lean management across the company. 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). Description 3M Co. 3M Co. is a technology company, which manufactures industrial, safety, and consumer products. Leonteq publishes agenda and proposal of the Board of Directors for the Non-employee directors also receive an annual cash retainer of $100,000. 3M CO Board Member Muhtar Kent | Salary.com Get a free, personalized salary estimate based on today's job market. 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 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. 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. 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. Bldg. 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. After submitting your request, you will receive an activation email to the requested email address. Dr. Moyo served as Global Economist & Capital Markets at Goldman Sachs from 2001 to 2008. 3M leverages its 51 technology platforms to create differentiated solutions for customers through four business groups: Safety & Industrial, Transportation & Electronics, Health Care, and Consumer. Approximately 85% of companies have director ownership guidelines, while stock retention requirements are less common, present at 42% of companies. Its members include current board members, aspiring board members, and corporations looking to hire board members. Look for a gap in expertise that might be left when a current board member steps down. You can sign up for additional alert options at any time. 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. 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. Bldg. Erics last role was Group President of Enterprise Operations, where he led global Manufacturing and Supply Chain for 3M, driving end-to-end optimization. Dr. Moyo is on the board of the following organizations in addition to 3M: Chevron Corporation and Conde Nast. After submitting your request, you will receive an activation email to the requested email address. Director Compensation Practices offers a comprehensive set of benchmarking data and analysis needed to inform the board pay design process. Engage in conversations about Director pay with other professionals in the community. Mike Vale leads 3Ms Safety & Industrial Business Group, which includes personal safety, adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules. You can learn more about the standards we follow in producing accurate, unbiased content in our. Ms. 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. 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. Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. 3M has added Suzan Kereere to its board of directors. These descriptions are fairly generic. He was appointed 3Ms chief technology officer and senior vice president of research and development in July 2017. You must click the activation link in order to complete your subscription. Ms. Chow 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. 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. SAI KRISHNA.docx - IBM Board of Directors (PAGE 10) In 2018, he was inducted into the Intellectual Property Hall of Fame by the IP Hall of Fame Academy. Coronavirus Tips Working and Protection, For its 2021 fiscal year, 3M CO, listed the following executives on its annual proxy statement to the SEC. 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.