That's actually a 5% increase from the year before. Dr. Moyo is a global economist and author who analyzes the macroeconomy and international affairs. Incorporation is the legal process by which a business entity is formed. Over the years, his career with 3M has sent him abroad four times for varied roles, including research chemist, manufacturing director and general manager. 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. 123 0 obj <>stream Approximately 94% of companies denominate equity awards as a dollar value rather than as a fixed number of shares. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. Outside of work he enjoys reading, following college sports and spending time with his family. 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). oYgd=??/_C|72KFSI. Karina led strategic planning for the companys international operations and served as managing director for 3M Indonesia. Ive been fortunate enough to see this company from many, many anglesand 3M is impressive no matter where you are in the world.. They will provide invaluable insight and perspective to our board as we continue to position 3M for the future.". As an outside director, you could bring a fresh perspective to a corporate board and leverage your years of experience as an executive into a satisfying new project that still leaves you with enough time to do your day job or enjoy your retirement. 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. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. In recent years, companies have also begun to seek ethnic and gender diversity on their boards. Mike holds a masters degree in Electrical Engineering from the University of Southern California, and a bachelors degree from the University of Minnesota. Could you fill that gap? Learn how this feature works. In connection with Ms. Chow and Mr. Pizarro's election, the Board of Directors increased its size from 11 to 13 members. 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. In November 2021, Karina assumed her current role as senior vice president and chief strategy officer. John has a Ph.D. in inorganic chemistry from Stanford University, and a bachelors degree in chemistry from Hamline University. In his free time, Kevin enjoys travel, outdoor activities including fishing, hiking and gardening, and spending time with his family. 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.". 3M has increased its dividend for 64 straight years. 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. It regularly meets in executive session, without the presence of Rogers' management. Complement your online networking with face-to-face connections at events, conferences, and social gatherings, he says. Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. Ms. Kereere is also a longtime champion for equity and inclusion in business and society. During his assignment as the laboratory head in India, Ashish was responsible for establishing its first product development laboratory and capabilities. 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. After submitting your request, you will receive an activation email to the requested email address. Ashish has a strong technical background and has authored 10 patents. 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. Anne Chow's career in the technology and business sectors spans over three decades. Aside from the financial compensation, your reward will be having substantial input into major decisions made by the company, such as executive hires, policies on dividends and stock options, and executive payall while representing the best interests of management and shareholders. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. 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. For its 2021 fiscal year, 3M CO, listed the following board members on its annual proxy statement to the SEC. Mike became chairman of the board in May 2019 and chief executive officer in July 2018. It operates through the following segments: Safety and Industrial,. Its about supporting constant iteration, until a point you make yourself obsolete.. Page is on the board of the following public companies in addition to 3M: Eaton Corporation, Deere & Company. View SAI KRISHNA.docx from STAT 5561 at University of Missouri, Kansas City. I feel blessed and give everything I have to leave 3M in a better place, every day.. 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. She currently serves as Lead Director on the Board of Directors for FranklinCovey and as Adjunct Professor of Executive Education at the Kellogg School of Management, Northwestern University. As a member of Board of Directors at 3M CO, Muhtar Kent made $340,917 in total compensation. Mr. Pizarro served as president of SCE from 2014 to 2016. 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. After submitting your request, you will receive an activation email to the requested email address. Ferguson & Co, a former KPMG affiliate. 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. Can we afford $1.3M home? "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 this role, Kevin led ongoing efforts during the COVID-19 pandemic to combat fraud, counterfeiting, and price gouging of N95 respirators. Zoe joined 3M in 1998, and has held roles of increasing responsibility in human resources across the companys businesses and geographic areas. 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. From December 2006 through June 2008, Mr. Kent served as President and Chief Operating Officer of The Coca-Cola Company. Amy Fontinelle has more than 15 years of experience covering personal finance, corporate finance and investing. 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.. endobj Dr. Ashish Khandpur is group president of 3Ms Transportation and Electronics Business Group. Its that excitement, mixed with his incredible passion and leadership, that has led to some of 3Ms biggest equitable actions in the past year. He joined 3M in October 2021 as executive vice president and chief information & digital officer, helping lead the digital transformation of the $32 billion science-based company. 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. endobj Approximately 90% of companies in the sample grant full-value stock awards exclusively (i.e., no stock options). 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. 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. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. St. Paul, MN 55144-1000 Why Investors Should Look at the Proxy Statement, Disney Names New Chair, Eases Park Rules Amid Proxy Battle. endstream endobj startxref Serving on a corporate board of directors can be a lucrative side gig or second career for high-profile executives and recent retirees. "Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? 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. You must click the activation link in order to complete your subscription. %PDF-1.6 % For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. 3M (NYSE: MMM) believes science helps create a brighter world for everyone. 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. Ms. Lynch has helmed CVS Health since February 2021 and leads more than 300,000 employees, according to a . 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. The 3M board of directors is mostly composed of former CEOs. "We are very pleased to further strengthen 3M's board with two highly accomplished, world-class leaders," said 3M chairman and CEO Mike Roman. In addition to his role at 3M, he is on the Presidents Council of Advisors on Science and Technology (PCAST), the Board of Trustees at the Science Museum of Minnesota and is an emeritus trustee for Hamline University. You can sometimes learn what companies seek in their board members by reading the companys annual proxy statement. <>/Metadata 125 0 R/ViewerPreferences 126 0 R>> 3M Investor Relations Department His team supports the success of the 3M Operating Model, ensuring strong customer and employee engagement globally, protecting the reputation of 3M, providing world global services, while driving the companys workplace transformation strategy. 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. The median annual retainer is $30,000, up from $28,000 in 2020. 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 . 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. We also reference original research from other reputable publishers where appropriate. 0 So what does he do when hes not in the office? He returned to the Visual Systems Division before another posting in Italy as a laboratory and project manager. 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). Creating an atmosphere that allows people to perform at their best, collaborate broadly and enrich their own perspective makes for powerful outcomes.. 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. Leadership is about connecting with and inspiring others to achieve their best, Mark says. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. 6 yrs at my current company. From May 2005 through January 2006, he was President and Chief Operating Officer of The Coca-Cola Companys North Asia, Eurasia and Middle East Group. "I believe that building confidence and removing the fear of failure are key components of leadership," says Peter. A. Three years later, he was tapped to lead 3Ms corporate research lab. investorrelations@3M.com. On Fishbowl, you can share insights and advice anonymously with 3M employees and get real answers from people on the inside. 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.. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. [Br*L7r/Nv&rrzDGx0V:o,eIY^'(O >vXT cct"o3jvYEfp.w$}0BirMZIHI6M)9z?eOtp'pON{~YN>=mCs:a'heTb\G. 224-1W-02 Compensation for board members can easily reach $300,000 to $500,000 a year, according to Veritas, an executive compensation consulting service. It claims that including the USW proposal would involve "significant time, cost and resource . Mr. Roman served as Chief Executive Officer of 3M Company from July 2018 to May 2019. You can learn more about the standards we follow in producing accurate, unbiased content in our. 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. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. hb```e``3,00```T~s@@(` For nine straight years, 3M has been recognized by Ethisphere as one of the Worlds Most Ethical Companies. Before joining the Edison International companies, Mr. Pizarro was a senior engagement manager with McKinsey & Company. 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. Unsurprisingly, the board disagrees with the USW proposal. 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 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. Bldg. Retired Chairman of the Board and Chief Executive Officer, United Parcel Service, Inc., a provider of specialized transportation and logistics services. Prior to 3M, Peter served as chief executive officer of TireHub, a joint venture last mile distributor between Bridgestone and Goodyear. These include white papers, government data, original reporting, and interviews with industry experts. 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 (subject to ratification by the independent directors of the Board) the compensation for Eric serves on the boards of the U.S. Chamber of Commerce, St. Paul & Minnesota Foundation, and National Association of Manufacturing. 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. Ms. "Anne has decades of experience in technology and business, and a proven track record of transforming global organizations and community engagement. He serves on the boards of Special Olympics International, Cambridge China Development Trust, Council on Foreign Relations, and Emory University. 3M leverages its 51 technology platforms to create differentiated solutions for customers through four business groups: Safety & Industrial, Transportation & Electronics, Health Care, and Consumer. He began his professional career as a senior research engineer in 3M laboratories in St. Paul. Mr. Pizarro earned his bachelor's degree in chemistry from Harvard University and his Ph.D. in chemistry from the California Institute of Technology. Ms. Kereere has over 20 years of experience leading global businesses around the world, including in Europe, Australia, Asia and North America. Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. 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. 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. Averages based on self-reported salaries. CleanLink News. 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.
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