He is a member of the Marketing Leadership Council and serves on several non-profit and community boards. She is co-principal of Versaca Investments, a family office focused on growth investing globally she co-founded in 2021. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. 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. The estimated base pay is $176,306 per year. For online networking, Mark Rogers, CEO of BoardProspects.com, recommends his site, a board-recruitment network akin to LinkedIn. 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. ", Reuters. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. 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. Retired Chairman of the Board and Chief Executive Officer, The Coca-Cola Company, the worlds largest beverage company. 3M CO Executive Salaries & Other Compensation | Salary.com PDF The Board of Directors (the "Board") of 3M Company ("3M" or the "We are very pleased to further strengthen 3M's board with two highly accomplished, world-class leaders," said 3M chairman and CEO Mike Roman. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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 . In 2003 he joined McKinsey & Company, and in 2007 rejoined 3M and assumed responsibility for the overall planning and implementation of corporate strategic initiatives. In 2016, John moved to West Europe to serve as managing director of 3Ms D-A-CH region, which represents the companys combined operations in Germany, Austria and Switzerland. Chicago, IL 60603. 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.". 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. Our household income is $240k and have $400k for down payment after selling all stocks. Walmart's current board members include Cesar Conde, 47, chair of NBCUniversal, and Marissa Mayer, 46, who is well-known for the high positions she achieved at Google and Yahoo. Anne Chow's career in the technology and business sectors spans over three decades. 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. From January 2006 through December 2006, Mr. Kent served as President of Coca-Cola International. For him, that comes down to business/market analysis and team success. 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. 3M (NYSE: MMM) believes science helps create a brighter world for everyone. degree from Harvard University and a Ph.D. in Economics from the University of Oxford. Kereere has over 20 years of experience in leading global . You can sometimes learn what companies seek in their board members by reading the companys annual proxy statement. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Mr. Pizarro is on the board of the following public company in addition to 3M: Edison International. In his free time, Kevin enjoys travel, outdoor activities including fishing, hiking and gardening, and spending time with his family. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. "People from all backgrounds and experiences work together and create new and differentiated solutions to solve our customers' and their customers' problems -- across so many industries and geographies.". The estimated additional pay is $170,007 per year. hbbd``b`$fH0@= , VDtbc a`$2012| Its that excitement, mixed with his incredible passion and leadership, that has led to some of 3Ms biggest equitable actions in the past year. "U.S. company directors compensated more than ever, but now risk backlash.". He served as Coca-Colas Chief Executive Officer from July 2008 to April 2017. 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 leverages its 51 technology platforms to create differentiated solutions for customers through four business groups: Safety & Industrial, Transportation & Electronics, Health Care, and Consumer. Leadership is about connecting with and inspiring others to achieve their best, Mark says. President and CEO, Edison International, the parent company of Southern California Edison (SCE), one of the nations largest electric utilities, since 2016. 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. St. Paul, MN 55144-1000 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. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Country Governance and Services comprises Global Country Leadership, the Workplace Group, Global Service Centers, and 3Ms Emerging Markets. Three years later, he was tapped to lead 3M's corporate research lab. Help make it more accurate by adding yours. 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. Ms. Lynch has helmed CVS Health since February 2021 and leads more than 300,000 employees, according to a . He serves on the boards of Special Olympics International, Cambridge China Development Trust, Council on Foreign Relations, and Emory University. Retired Chairman of the Board and Chief Executive Officer, United Parcel Service, Inc., a provider of specialized transportation and logistics services. In this role, he leverages his many years of experience as both a technology and business leader. The average mix across the entire sample is 43% cash and 57% equity. Inspired, passionate leaders have the power to transform, Jeff says. Mike became chairman of the board in May 2019 and chief executive officer in July 2018. You must click the activation link in order to complete your subscription. Mr. Pizarro earned his bachelor's degree in chemistry from Harvard University and his Ph.D. in chemistry from the California Institute of Technology. These include white papers, government data, original reporting, and interviews with industry experts. 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. Ms. Kereere is also a longtime champion for equity and inclusion in business and society. 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 . 3M Adds To Board Of Directors - CleanLink 3M Expands Board of Directors February 14, 2022. Ms. Chow earned her bachelor's and master's degrees in electrical engineering, and a master's degree in business administration, from Cornell University. Personal health and fitness are his passion. He previously worked at St. Jude Medical for more than 15 years, holding multiple technology roles of increasing responsibility. How Should Board of Directors' Compensation Be Handled? - Diligent For its 2021 fiscal year, 3M CO, listed the following board members on its annual proxy statement to the SEC. In his spare time, he dedicates himself to being a loving husband and father and growing his family. Effective July 1, 2022, Jeff is also leading 3Ms Health Care Business Group on an interim basis. Serving on a corporate board of directors can be a lucrative side gig or second career for high-profile executives and recent retirees. 224-1W-02 The companys financial objectives include continuing to grow above the markets it serves, expand margins and generate strong cash flow. He leads a global Legal Affairs team that helps guide business opportunities, address enterprise risks, protect intellectual property, shape the development of law and policy, and strengthen compliance and security. Bldg. She has lived and worked around the world for 3M, including in Asia Pacific, Europe and the United States. 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.. 3M CO Board Member Thomas | Salary.com Retired Group Vice President, Global Purchasing, Ford Motor Company, Retired Chief Executive Officer, AT&T Business, Retired Chief Financial Officer, Accenture. The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. You will compete for board positions with people who have been extremely successful at a young age. Description 3M Co. 3M Co. is a technology company, which manufactures industrial, safety, and consumer products. 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). 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). 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. Zoe has been the architect of 3Ms talent and organization effectiveness strategies, and a passionate advocate for embedding diversity, equity and inclusion across the company. The brands listed above are trademarks of 3M. We also reference original research from other reputable publishers where appropriate. Mr. Pizarro served as president of SCE from 2014 to 2016. 224-1W-02 Anne Chow and Pedro Pizarro elected to 3M Board of Directors Most recently he served as CFO of GE Healthcare. Mike and his family enjoy a variety of physical fitness and outdoor activities. 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. 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. 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. 3M Definitive Proxy Statement The Technology and Industrials sectors have the highest prevalence of stock options at 18% and 10% prevalence, respectively, granted in isolation or in tandem with full-value stock awards. 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. Page also serves as non-executive Chairman of the Board of Corteva Agriscience. You can learn more about the standards we follow in producing accurate, unbiased content in our. 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. 0 Jeff has lived and worked internationally for 3M, and always with a great passion on exceeding customer expectations. After spending almost two years with Aearo integrating it into 3M, Mike became managing director of 3M Brazil in 2009. How Much Board of Directors Members Get Paid and What They Do Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Dr. Moyo is a global economist and author who analyzes the macroeconomy and international affairs. Mark holds a bachelors degree in electrical engineering from Purdue University, and an M.B.A. from Indiana University. 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. Chairman and Chief Executive Officer of Dow, Inc., a leading global materials science company. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. Executive Vice President and Chief Financial Officer of Microsoft Corporation, a global technology company. Before that, he served as president and chief operating officer of Dow and also previously served as chief operating officer for the Materials Science division of DowDuPont. Mr. Dillon served as a Director of the Kroger Co. from 1995 through 2014. Throughout her life and career, Karina has lived and worked around the world. 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. 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. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. Retired Group Vice President, Global Purchasing, Ford Motor Company, a global automotive industry leader. 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, . 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. periodically receive reports on the status of Board compensation in relation to other large U.S. companies and is responsible for recommending to . 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. Director Compensation Practices offers a comprehensive set of benchmarking data and analysis needed to inform the board pay design process.
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