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For example, audit committees have regular meetings before public filings, she says. 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: the large-cap median increased 1.6% to $290,000, the mid-cap median increased 1.7% to $216,950, and the small-cap median increased 5.1% to $163,500. 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. We believe that good corporate governance serves the long-term interests of stockholders, strengthens the Board and management, and further enhances the public trust 3M has earned from more than a century of operating with uncompromising integrity and doing business the right way. They will provide invaluable insight and perspective to our board as we continue to position 3M for the future.". 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. In this role, Kevin led ongoing efforts during the COVID-19 pandemic to combat fraud, counterfeiting, and price gouging of N95 respirators. After submitting your request, you will receive an activation email to the requested email address. Engage in conversations about Director pay with other professionals in the community. 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. Dr. Moyo earned a bachelors degree in chemistry and MBA degree in Business Administration from American University, an M.P.A. 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. Page also serves as non-executive Chairman of the Board of Corteva Agriscience. On Fishbowl, you can share insights and advice anonymously with 3M employees and get real answers from people on the inside. 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. Head of Global Business Solutions, Fiserv, Inc. ST. PAUL, Minn., Feb. 8, 2023 /PRNewswire/ -- 3M (NYSE: MMM) announced today that Anne H. Chow, retired chief executive officer of AT&T 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. Country Governance and Services comprises Global Country Leadership, the Workplace Group, Global Service Centers, and 3Ms Emerging Markets. "2020 Proxy Statement," Page 12. In January 2020, Environmental Responsibility was added to his role, including the Environment, Health and Safety organization. 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. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. A proxy statement is a document the SEC requires companies to provide shareholders that includes information needed to make decisions at shareholder meetings. 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. 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. 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. 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 The prevalence of committee member retainers has been stable year-over-year, while the use of committee meeting fees continues to decrease. investorrelations@3M.com. 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. 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. Mr. Brown served in various leadership capacities in global purchasing since joining Ford in 1999. Changes were relatively stable across industries; we observe that Financial Services, Industrials, and Technology companies had no increases in median total compensation, while Energy and Retail companies had increases of 3% and 2%, respectively. Ms. Chow earned her bachelor's and master's degrees in electrical engineering, and a master's degree in business administration, from Cornell University. So what does he do when hes not in the office? When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. As a member of Board of Directors at 3M CO , Thomas made $320,487 in total compensation. Mr. Kent held the position of Chairman of the Board from April 23, 2009 to April 30, 2019. Its that excitement, mixed with his incredible passion and leadership, that has led to some of 3Ms biggest equitable actions in the past year. We also reference original research from other reputable publishers where appropriate. "Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? hbbd``b`$fH0@= , VDtbc a`$2012| Bldg. In November 2021, Karina assumed her current role as senior vice president and chief strategy officer. VUL^07d=xy2 *'..j(( Hs00 For him, that comes down to business/market analysis and team success. John came to 3M in 1995 as a research chemist in the corporate R&D organization, working primarily on acrylic adhesives and tapes. 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. 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 have been an Office Manager 21 yrs. 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. 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. This compensation may impact how and where listings appear. After submitting your request, you will receive an activation email to the requested email address. 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. 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. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Lodestone Global. During his assignment as the laboratory head in India, Ashish was responsible for establishing its first product development laboratory and capabilities. hb```e``3,00```T~s@@(` She has been in the accounting, audit, and tax profession for more than 13 years, working with individuals and a variety of companies in the health care, banking, and accounting industries. 3M leverages its 51 technology platforms to create differentiated solutions for customers through four business groups: Safety & Industrial, Transportation & Electronics, Health Care, and Consumer. That year's top payer was Goldman Sachs Group Inc., which paid its directors an average of $599,279. For its 2021 fiscal year, 3M CO, listed the following CEO pay ratio data on its annual proxy statement to the SEC. About3M 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. Mr. Pizarro is a member of Edison International's Board of Directors. Hornbaker says attending committee meetings might be another responsibility. President and CEO, Edison International, the parent company of Southern California Edison (SCE), one of the nations largest electric utilities, since 2016. The Boston Globe reports that the average time commitment to serve on a board is fewer than five hours per week. Download required. 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. Prior to joining 3M in 2001, Kevin was a partner at Kirkland & Ellis in Chicago. Dr. Moyo served as Global Economist & Capital Markets at Goldman Sachs from 2001 to 2008. The offers that appear in this table are from partnerships from which Investopedia receives compensation. This would be in addition to the peer group benchmarks (what other CEOs make) that the company uses to determine CEO compensation. Ms. Lynch has helmed CVS Health since February 2021 and leads more than 300,000 employees, according to a . Here are a couple of examples of what Fortune 500 companies pay their board members. 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. <> Prior to 3M, Monish spent 26 years at GE where he held a variety of roles of increasing responsibility across GEs businesses. 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, . The Company assumes no obligation to update or revise any forward-looking statements. endstream endobj startxref 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.. CleanLink News. A. Of this total $155,000 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 was awarded as stock and $917 came from other . Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Investopedia does not include all offers available in the marketplace. Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor tax expert. Various senior positions at Ita Unibanco Group , including CEO (January 2017 . I believe great leaders are great listeners who carry themselves with humility, authenticity, accessibility, transparency and integrity.. Monish is a certified chartered accountant and a certified cost accountant from the Institute of Cost and Works Accountants of India. She previously held executive leadership roles in global merchant sales and acquiring at Visa from 2016 to 2021. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Zoe is a chartered member of Chartered Institute of Personnel & Development. 3M Expands Board of Directors February 14, 2022. All proxy statements are public filings made available to the general public by the SEC. He earned a bachelors degree from St. Josephs College of Commerce in Bangalore, India. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. 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. Additional pay could include bonus, stock, commission, profit sharing or tips. 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. 03.03.2023 - Leonteq AG / Key word(s): AGMEGM Press release: Leonteq publishes agenda and proposal of the Board of Directors for the Annual General Meeting 2023 03.03.2023 / 07:00 CET/CEST PRESS . By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. Executive Vice President and Chief Financial Officer of Microsoft Corporation, a global technology company. He served in that role until 2012, when he became global business director for 3M's Industrial Adhesives and Tapes Division. Obviously, if there is a crisis or a strategic issuefor example, an acquisitionthe number of hours for a director can dramatically increase, Rogers says. Mike holds a masters degree in Electrical Engineering from the University of Southern California, and a bachelors degree from the University of Minnesota. 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. 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%). Learn how this feature works. Prior to GE, Monish gained experience at A.F. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. 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. He began his professional career as a senior research engineer in 3M laboratories in St. Paul. Edison International is also the parent company of Edison Energy, a portfolio of competitive businesses providing commercial and industrial customers with energy management and procurement services. Tel: (651) 737-6523 Ms. Kereere has over 20 years of experience leading global businesses around the world, including in Europe, Australia, Asia and North America. 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 . Mr. Dillon served as a Director of the Kroger Co. from 1995 through 2014. Eric Hammes is 3Ms executive vice president, chief country governance and services officer. She has lived and worked around the world for 3M, including in Asia Pacific, Europe and the United States. He previously had led 3Ms Digital Transformation, one of the companys three value creation levers. She joined 3M in 2008 as a marketing and public affairs manager for 3M Mexico, and has held roles of increasing responsibility in the United States, Asia and Latin America. Eric joined 3M in 1997, and held several leadership positions in the Finance organization, primarily in Health Care and Electronics. I took some time to think about it because the emotions of the time were raw and real, Garfield said. 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. At 3M, we promise to treat your data with respect and will not share your information with any third party. 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 . At 3M, we promise to treat your data with respect and will not share your information with any third party. 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.