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 the CEO, annually reviews and approves the compensation for the other senior executives, Karina led strategic planning for the companys international operations and served as managing director for 3M Indonesia. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. 10 S. Dearborn St., 54th Floor. 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. Page is on the board of the following public companies in addition to 3M: Eaton Corporation, Deere & Company. Outside of work, Karina is an experience seeker, avid traveler and food lover who enjoys dancing and yoga. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. He can also be found running, antiquing, reading science fiction and spending time with his family. Fixed retainers remain more prevalent than meeting fees as the means to deliver additional compensation. 3 0 obj
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. 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. The brands listed above are trademarks of 3M. Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. A. Over the years, his career with 3M has sent him abroad four times for varied roles, including research chemist, manufacturing director and general manager. 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. Get a free, personalized salary estimate based on today's job market. They will provide invaluable insight and perspective to our board as we continue to position 3M for the future.". I feel blessed and give everything I have to leave 3M in a better place, every day.. As a former Big, Mike is a long-time supporter of Big Brothers Big Sisters of America. Mike is most proud of seeing the success of coworkers and people he has mentored during his time at the company. 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. John has a Ph.D. in inorganic chemistry from Stanford University, and a bachelors degree in chemistry from Hamline University. That's a 43% increase over 10 years. 3M CO income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. In his 35-year career with the company, he has played a key role in its transformation, from lower-margin, commodity businesses to one more deeply focused on higher-growth consumer demand-driven markets that value innovation. The estimated additional pay is $170,007 per year. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. 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. 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 . 1 0 obj
If you experience any issues with this process, please contact us for further assistance. From January 2006 through December 2006, Mr. Kent served as President of Coca-Cola International. Prior to GE, Monish gained experience at A.F. Hornbaker says attending committee meetings might be another responsibility. 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. Kevin is a champion for diversity and inclusion in the legal profession, growing talent and serving communities. Prior to her current role, she served as senior vice president of Talent, Learning and Insights. The Company assumes no obligation to update or revise any forward-looking statements. 0
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Engage in conversations about Director pay with other professionals in the community. 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. The Company assumes no obligation to update or revise any forward-looking statements. Could you fill that gap? Ms. Craig is on the boards of the following public companies in addition to 3M: Corning, Inc.; Merck & Company; Progressive (Insurance) Corporation. Tel: (651) 737-6523
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. A director elected to the Board after the beginning of a Plan Year may elect, by written notice to 3M within 30 days after such director's term begins, to participate in the Compensation alternatives for the remainder of that Plan Year, and election for succeeding years shall be on the same basis as for other directors. Chairman and Chief Executive Officer of Dow, Inc., a leading global materials science company. <>/Metadata 125 0 R/ViewerPreferences 126 0 R>>
You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). Mike became chairman of the board in May 2019 and chief executive officer in July 2018. All proxy statements are public filings made available to the general public by the SEC. 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. Make sure your resume states what you will specifically bring to the table as a board member.. 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. 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. 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. Kevin and his wife Melinda have three adult children. 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 . CleanLink News. Download required. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. @,s30_j0 \
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3M(NYSE: MMM) believes science helps create a brighter world for everyone. Various senior positions at Ita Unibanco Group , including CEO (January 2017 . The median decrease in director compensation was 50% at S&P 500 companies and 40% at Russell 3000 companies. %%EOF
It claims that including the USW proposal would involve "significant time, cost and resource . This compensation may impact how and where listings appear. These descriptions are fairly generic. He enjoys pushing himself mentally and physically in a broad range of athletics. He began his professional career as a senior research engineer in 3M laboratories in St. Paul. At 3M, we promise to treat your data with respect and will not share your information with any third party. Pedro brings skills and experience in leading large companies and driving strategic improvements, and a deep understanding of the power of materials science to improve the world. 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, . I have been trying to get a review ever since and no one will say what is going on. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. We also reference original research from other reputable publishers where appropriate. The median annual retainer is $30,000, up from $28,000 in 2020. 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. 224-1W-02
The information on this website, including any documents posted herein, contains a significant amount of information about 3M. For him, that comes down to business/market analysis and team success. Country Governance and Services comprises Global Country Leadership, the Workplace Group, Global Service Centers, and 3Ms Emerging Markets. After spending almost two years with Aearo integrating it into 3M, Mike became managing director of 3M Brazil in 2009. As a member of Board of Directors at 3M CO , Thomas made $320,487 in total compensation. Executive search firms can streamline the process since theyll know about available positions. Chairman of the Board and Chief Executive Officer of 3M Company. Mark holds a bachelors degree in electrical engineering from Purdue University, and an M.B.A. from Indiana University. Know Your Worth. The Company assumes no obligation to update or revise any forward-looking statements. 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. 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. 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. He served as Coca-Colas Chief Executive Officer from July 2008 to April 2017. Boards aren't entirely made up of retirees and people nearing the end of their careers. 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. 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. Monish is a certified chartered accountant and a certified cost accountant from the Institute of Cost and Works Accountants of India. 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. 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? Leadership is about serving more than yourself, he says. Additional pay could include bonus, stock, commission, profit sharing or tips. Ms. Chow earned her bachelor's and master's degrees in electrical engineering, and a master's degree in business administration, from Cornell University. "People achieve great things when they are embraced and valued; when they are connected, not isolated; and when their intelligence and imagination are unleashed". Mr. In November 2021, Karina assumed her current role as senior vice president and chief strategy officer. 123 0 obj
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periodically receive reports on the status of Board compensation in relation to other large U.S. companies and is responsible for recommending to . 224-1W-02 St. Paul, MN 55144-1000 Tel: (651) 737-6523 investorrelations@3M.com Lodestone Global. 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 . Throughout Mikes career, he has lived and led businesses around the world, including the United States, Europe and Asia. 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. I have been an Office Manager 21 yrs. This employer has claimed their Employer Profile and is engaged in the Glassdoor community. In 2018, he was inducted into the Intellectual Property Hall of Fame by the IP Hall of Fame Academy. Here are a couple of examples of what Fortune 500 companies pay their board members. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. She is married with two teenage children, and enjoys hiking, baking, and exploring the world with her family. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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%). It regularly meets in executive session, without the presence of Rogers' management. He was elected to the Cargill Board of Directors in 2000 and elected Chairman of the Board in 2007. He most recently was Senior Vice President and Deputy General Counsel, advising senior management and the Board of Directors on legal issues. The median compensation for members of private company boards of directors was $44,850 in 2021, according to a global study by Lodestone Global. 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. 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. Mr. Roman is on the board of the following organizations in addition to 3M: Abbott Laboratories, University of Minnesota Foundation Board of Trustees. Retired Chief Financial Officer, Accenture plc., a global management consulting, technology services and outsourcing company. He has held a wide range of other senior executive positions at the Edison International companies since joining in 1999. The Energy sector provides the highest median cash retainer for board service ($86,250) and Technology the lowest ($60,000). Head of Global Business Solutions, Fiserv, Inc. Our household income is $240k and have $400k for down payment after selling all stocks. Mr. Roman served as Chief Executive Officer of 3M Company from July 2018 to May 2019. Leaders serve by creating an inclusive environment which values diverse perspectives, teamwork and innovation. Using 46 technology platforms, our integrated team of scientists and researchers.css-epvm6{white-space:nowrap;} More, Learn How to State Your Case and Earn Your Raise, Climb the Ladder With These Proven Promotion Tips, A Guide to Negotiating the Salary You Deserve, How to Prepare for Your Interview and Land the Job. Ashish serves as a member of the board of directors of Constellation and on the Deans advisory board for the College of Science and Engineering at the University of Minnesota. She is deeply involved in the companys operations, as well as the strategy development and overall execution of the companys successful acquisitions of LinkedIn and GitHub.