"U.S. company directors compensated more than ever, but now risk backlash.". 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. Non-employee directors also receive an annual cash retainer of $100,000. During his assignment as the laboratory head in India, Ashish was responsible for establishing its first product development laboratory and capabilities. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. 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.. A proxy statement is a document the SEC requires companies to provide shareholders that includes information needed to make decisions at shareholder meetings. (2005-2013) (alternate member of the Board of Directors, (1999 to 2005)) Previous experience. 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. Incorporation is the legal process by which a business entity is formed. Additional pay could include bonus, stock, commission, profit sharing or tips. She earned her degree in manufacturing engineering from Brunel University London, and diploma in personnel management from Thames Valley University. "Definitive Proxy Statement, Apple 2021. He has held a wide range of other senior executive positions at the Edison International companies since joining in 1999. In this role, he leverages his many years of experience as both a technology and business leader. Director Compensation Practices offers a comprehensive set of benchmarking data and analysis needed to inform the board pay design process.
2020 Director Compensation Report - The Harvard Law School Forum on 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. 3M shareholders today elected 11 directors for one-year terms that expire at the company's 2021 Annual Meeting: Thomas "Tony" K. Brown, retired group vice president, Global Purchasing, Ford Motor Company Pamela J. Craig, retired chief financial officer, Accenture plc David B. Dillon, retired chairman of the board and CEO, The Kroger Co. 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. Jeff Lavers is the group president of 3Ms Consumer Business Group. 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. Eric Hammes is 3Ms executive vice president, chief country governance and services officer. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. As a member of Board of Directors at 3M CO , Thomas made $320,487 in total compensation. Lead, Columbia University's SIPA Tech & Policy Initiative; . To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Kereere has over 20 years of experience in leading global . Karina led strategic planning for the companys international operations and served as managing director for 3M Indonesia. 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 . Under his leadership, the company has committed to providing much-needed innovation and resources to address key sustainability challenges such as plastic waste and climate change. 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.
3M Director Salaries | Glassdoor At 3M, we promise to treat your data with respect and will not share your information with any third party. Dow's Board of Directors exemplifies good governance with solid, diverse experience and credentials. 3M Expands Board of Directors February 14, 2022. Year-over-year increases to total compensation, at the median, were modest among large-cap and mid-cap companies compared to small-cap companies, which had a relatively significant increase . Retired Group Vice President, Global Purchasing, Ford Motor Company, Retired Chief Executive Officer, AT&T Business, Retired Chief Financial Officer, Accenture. I feel blessed and give everything I have to leave 3M in a better place, every day..
3M - Governance - Corporate Officers - 3M - IR Home Similar to last year, 63% of companies provide additional compensation to committee members. The brands listed above are trademarks of 3M. 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. 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. FW Cooks 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. In 2008, he became Ford's Group Vice President, Global Purchasing, with responsibility for approximately $90 billion of production and non-production procurement for Ford operations worldwide. Tel: (651) 737-6523
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Corporate Governance - Board of Directors - Mastercard That's actually a 5% increase from the year before. Non-employee directors also get every new Apple product for free on request and can purchase more at a discount. 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. Eric joined 3M in 1997, and held several leadership positions in the Finance organization, primarily in Health Care and Electronics. Mr. In recent years, companies have also begun to seek ethnic and gender diversity on their boards. 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.
How Should Board of Directors' Compensation Be Handled? - Diligent In 2008, he returned to the U.S. to become vice president and general manager of Aearo Technologies LLC, which 3M acquired that year. Averages based on self-reported salaries. Mr. You must click the activation link in order to complete your subscription. 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.
3M - Governance - Committee Composition Hornbaker suggests giving your resume to search firms youve dealt with in the past and letting them know you're interested in obtaining a board position.
3M - Department of Defense Data Reveals No Hearing - investors.3m.com When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. Executive search firms can streamline the process since theyll know about available positions. Dr. Ashish Khandpur is group president of 3Ms Transportation and Electronics Business Group. <>/Metadata 125 0 R/ViewerPreferences 126 0 R>>
A. 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. 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. To address this data deficiency, Compensation Advisory Partners (CAP) and Family Business and Private Company Director magazines conducts our Private Company Board Compensation and Governance Survey. <>/ExtGState<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>>
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Leonteq publishes agenda and proposal of the Board of Directors for the The Boston Globe reports that the average time commitment to serve on a board is fewer than five hours per week. Anne Chow and Pedro Pizarro elected to 3M Board of Directors, Caution Concerning Forward-Looking Statements, https://www.prnewswire.com/news-releases/anne-chow-and-pedro-pizarro-elected-to-3m-board-of-directors-301741429.html, SDS, RDS, More Regulatory & Compliance Information. 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. On Fishbowl, you can share insights and advice anonymously with 3M employees and get real answers from people on the inside. Its about supporting constant iteration, until a point you make yourself obsolete.. For him, that comes down to business/market analysis and team success. 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. from Grinnell College. In 2001, Mike returned to the U.S. as one of 3Ms first Six Sigma master black belts. Those two years, he says, are what really grounded him in company-wide priorities. investorrelations@3M.com. Its that excitement, mixed with his incredible passion and leadership, that has led to some of 3Ms biggest equitable actions in the past year. In this role, Kevin led ongoing efforts during the COVID-19 pandemic to combat fraud, counterfeiting, and price gouging of N95 respirators.
Anne Chow and Pedro Pizarro elected to 3M Board of Directors 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. Dr. Moyo served as Global Economist & Capital Markets at Goldman Sachs from 2001 to 2008. Retired Chairman and Chief Executive Officer of Cargill. He was most recently head of 3Ms Health Care Business Group, and prior to that led the companys Consumer Business Group.
Anne Chow and Pedro Pizarro elected to 3M Board of Directors Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Deloitte. Effective April 1, 2019, Ashish was appointed to lead the newly created 3Ms Transportation and Electronics Business Group, with total revenues of approximately $10B. 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). 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. I have been an Office Manager 21 yrs. He was a senior research chemist in the Visual Systems Division before joining 3M Italy as a product development engineer. The offers that appear in this table are from partnerships from which Investopedia receives compensation. If you experience any issues with this process, please contact us for further assistance. AP6D. Mr. Pizarro is a member of Edison International's Board of Directors. Zoe is a chartered member of Chartered Institute of Personnel & Development.
3M Adds To Board Of Directors - CleanLink Erics last role was Group President of Enterprise Operations, where he led global Manufacturing and Supply Chain for 3M, driving end-to-end optimization. Ashish has a strong technical background and has authored 10 patents. 6 yrs at my current company. In 2011, he became executive vice president of the Consumer Business Group, and in 2016 was appointed executive vice president of the Health Care Business Group. Tel: (651) 737-6523
224-1W-02 St. Paul, MN 55144-1000 Tel: (651) 737-6523 investorrelations@3M.com CleanLink News. An audit committee is the part of a company's board of directors in charge financial reporting and disclosure. 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. John came to 3M in 1995 as a research chemist in the corporate R&D organization, working primarily on acrylic adhesives and tapes. 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. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Abbott Laboratories, Dept 364, Bldg. 3Ms culture brings together passionate people with purpose and strategy to solve some of the worlds toughest challenges.. 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. 3M announced that Suzan Kereere, head of Global Business Solutions at Fiserv, Inc., has been elected to 3M's Board of Directors, effective Feb. 10, 2022. 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. St. Paul, MN 55144-1000
Eric serves on the boards of the U.S. Chamber of Commerce, St. Paul & Minnesota Foundation, and National Association of Manufacturing. President Joe Biden intends to name Karen Lynch, CEO of CVS Health, to his Export Council. 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 . Can we afford $1.3M home? Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. endstream
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He served as Coca-Colas Chief Executive Officer from July 2008 to April 2017. 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. 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).
PDF The Board of Directors (the "Board") of 3M Company ("3M" or the He serves on the board of Abbott Laboratories and on the University of Minnesota Foundation Board of Trustees. The average salary for a Director is $129,368 per year in United States, which is 62% lower than the average 3M salary of $346,118 per year for this job. She has lived and worked around the world for 3M, including in Asia Pacific, Europe and the United States. 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. 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.
Suzan Kereere elected to 3M Board of Directors - Feb 9, 2022 ", Reuters. Outside of work, Monish enjoys reading, music, watching cricket, playing tennis or badminton and spending time with his family. Throughout his 20-year 3M career, Kevin has led legal teams in areas of increasing responsibility. President and CEO, Edison International, the parent company of Southern California Edison (SCE), one of the nations largest electric utilities, since 2016. 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. Ms. A board of directors (B of D) is the governing body of a company, elected by shareholders to set strategy and oversee management. That's actually a 5% increase from the year before . These descriptions are fairly generic. If you experience any issues with this process, please contact us for further assistance. Tel: (651) 737-6523
Ashish has been with the company for more than 26 years. Head of Global Business Solutions, Fiserv, Inc. 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. For the past eight years, Ms. My new VP is in the company less than 6m and in the position 3m. Mike later became general manager of 3M Spain. Every day her team is focused on attracting, supporting, and developing talent, and ensuring 3M is a place where everyone belongs, learns, innovates and thrives. Mr. Fitterling was named CEO-elect of Dow in March 2018 prior to becoming CEO in July 2018, and he was elected chairman in April 2020. Learn how this feature works. Chairman and Chief Executive Officer of Dow, Inc., a leading global materials science company. Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. She earned a B.A. stream
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. 118 0 obj
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"The Types of Directors," Pages 1-2. 3M Company Board of Directors Compensation Committee Charter (As Amended February 10, 2003) A. The information shown here is a reporting of information included in the company's proxy statement. 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. hb```e``3,00```T~s@@(` 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. The new 2022 third edition of the survey contains over 1,200 responses, an increase of about 300 participants from the prior full version of the . Director compensation structure remains consistent with prior years, with an average mix of 57% equity and 43% cash across the entire sample. 224-1W-02
Mr. Dillon is on the board of the following public company in addition to 3M: Union Pacific Corporation. In connection with Ms. Kereere's election, the Board of Directors . The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. 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. He was elected to the Cargill Board of Directors in 2000 and elected Chairman of the Board in 2007. 224-1W-02
In connection with Ms. Chow and Mr. Pizarro's election, the Board of Directors increased its size from 11 to 13 members. Complement your online networking with face-to-face connections at events, conferences, and social gatherings, he says. Amy Fontinelle has more than 15 years of experience covering personal finance, corporate finance and investing. Help make it more accurate by adding yours. In 2017 she was named global business director for 3Ms home improvement business, until 2020 when she became senior vice president for customer operations. ", Veritas. Personal health and fitness are his passion. You may communicate with the board of directors by writing a letter to the chairman of the board, to the chairman of the nominations and governance committee, who acts as the lead director at the meetings of the independent directors, or to the independent directors. It goes a lot higher from there. Leaders serve by creating an inclusive environment which values diverse perspectives, teamwork and innovation. 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. Here are a couple of examples of what Fortune 500 companies pay their board members. 3M has increased its dividend for 64 straight years. Mike holds a masters degree in Electrical Engineering from the University of Southern California, and a bachelors degree from the University of Minnesota. 3M (NYSE: MMM) believes science helps create a brighter world for everyone. 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. Over the years, his career with 3M has sent him abroad four times for varied roles, including research chemist, manufacturing director and general manager. Prior to 3M, Peter served as chief executive officer of TireHub, a joint venture last mile distributor between Bridgestone and Goodyear. How accurate is this most likely Total Pay range (base + additional) of $270K-$455K/yr?
PDF 3M Company Board of Directors Compensation and Talent Committee Charter Mr. Kent held the position of Chairman of the Board from April 23, 2009 to April 30, 2019. 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.. After submitting your request, you will receive an activation email to the requested email address. John has a Ph.D. in inorganic chemistry from Stanford University, and a bachelors degree in chemistry from Hamline University. Prior to 3M, Monish spent 26 years at GE where he held a variety of roles of increasing responsibility across GEs businesses. 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. IBM Board of Directors (PAGE 10) Director Nominees IBM's Board is composed of a diverse, experienced group of global
The 2022 Private Company Board Compensation Survey 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 . After submitting your request, you will receive an activation email to the requested email address. 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.
3M News Center - Press Releases So what does he do when hes not in the office? Posted by Michael Ferrante and Connor Damon, FW Cook, on, Harvard Law School Forum on Corporate Governance, Prevalence of annual limits on director compensation remains high, with equity-only limits continuing to be the most common approach, though use of total compensation limits. endstream
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Prior to 3M, she served as a business leader and consultant for various companies in Mexico and Europe. 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. 3 0 obj
Kevin is a champion for diversity and inclusion in the legal profession, growing talent and serving communities. Unsurprisingly, the board disagrees with the USW proposal. 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. "3M is a globally diverse company in so many dimensions," Ashish says. 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. 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.
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