Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. For nine straight years, 3M has been recognized by Ethisphere as one of the Worlds Most Ethical Companies. 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. The brands listed above are trademarks of 3M. 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. endobj Tel: (651) 737-6523 He is a member of the Marketing Leadership Council and serves on several non-profit and community boards. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. In his free time, he enjoys spending time with his wife and three kids, as well as a variety of outdoor activities including hiking, biking and fishing. Investopedia does not include all offers available in the marketplace. Make sure your resume states what you will specifically bring to the table as a board member.. Non-employee directors also get every new Apple product for free on request and can purchase more at a discount. 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, . Eric joined 3M in 1997, and held several leadership positions in the Finance organization, primarily in Health Care and Electronics. 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. 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. 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. Our household income is $240k and have $400k for down payment after selling all stocks. 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. During his assignment as the laboratory head in India, Ashish was responsible for establishing its first product development laboratory and capabilities. She earned a B.A. This is an opportunity for us to shape what were going to be for the next 100 years., We need to act with purpose: One 3Mer's passion is shaping 3M's approach to addressing equity in STEM, Averages based on self-reported salaries. In 2018, he was inducted into the Intellectual Property Hall of Fame by the IP Hall of Fame Academy. Most recently he served as CFO of GE Healthcare. 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. IBM Board of Directors (PAGE 10) Director Nominees IBM's Board is composed of a diverse, experienced group of global 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. You must click the activation link in order to complete your subscription. Hood is responsible for leading the companys worldwide finance organization, including business operations, acquisitions, treasury, tax planning, global real estate, accounting and reporting, internal audit and investor relations. 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.". St. Paul, MN 55144-1000 The compensation analysis excludes any temporary reductions to director compensation implemented due to the pandemic. 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. Retired Chairman of the Board and Chief Executive Officer, The Coca-Cola Company, the worlds largest beverage company. endstream endobj 103 0 obj <. Corporate boards are made up of highly successful executive outsiders. 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 . I have been trying to get a review ever since and no one will say what is going on. "Anne has decades of experience in technology and business, and a proven track record of transforming global organizations and community engagement. It operates through the following segments: Safety and Industrial,. At 3M, we promise to treat your data with respect and will not share your information with any third party. Over the years, his career with 3M has sent him abroad four times for varied roles, including research chemist, manufacturing director and general manager. Chairman of the Board and Chief Executive Officer of 3M Company. He leads a team that, among other things, helps to keep the world connected by improving efficiency in electronic devices and data centers, enables e-mobility, and advances transportation and its safety. He then led Research & Development for the formerly Industrial Business Group initially in Asia Pacific and later globally. 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. 3Ms culture brings together passionate people with purpose and strategy to solve some of the worlds toughest challenges.. 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. 224-1W-02 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 . As a member of Board of Directors at 3M CO , Vance D. Coffman made $107,459 in total compensation. Jeff Lavers is the group president of 3Ms Consumer Business Group. Zoe is a chartered member of Chartered Institute of Personnel & Development. The Company assumes no obligation to update or revise any forward-looking statements. In 1996, the National Association of Corporate Directors (NACD) issued the Blue Ribbon Commission Report on Director Professionalism, which had a great influence on board member compensation practices. Mr. Kent held the position of Chairman of the Board from April 23, 2009 to April 30, 2019. Additional pay could include bonus, stock, commission, profit sharing or tips. The estimated additional pay is $170,007 per year. 224-1W-02 Mr. Pizarro earned his bachelor's degree in chemistry from Harvard University and his Ph.D. in chemistry from the California Institute of Technology. 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. 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.. At 3M, we promise to treat your data with respect and will not share your information with any third party. He received his J.D., magna cum laude, from Northwestern University; and his B.A. Dr. Moyo is a global economist and author who analyzes the macroeconomy and international affairs. All proxy statements are public filings made available to the general public by the SEC. Retired Chief Financial Officer, Accenture plc., a global management consulting, technology services and outsourcing company. Investopedia requires writers to use primary sources to support their work. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. 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. Page also serves as non-executive Chairman of the Board of Corteva Agriscience. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. At 3M, we promise to treat your data with respect and will not share your information with any third party. Download required. 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 . 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. The prevalence of committee member retainers has been stable year-over-year, while the use of committee meeting fees continues to decrease. 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. 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. Why Investors Should Look at the Proxy Statement, Disney Names New Chair, Eases Park Rules Amid Proxy Battle. "People achieve great things when they are embraced and valued; when they are connected, not isolated; and when their intelligence and imagination are unleashed". By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. 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. Outside of work he enjoys reading, following college sports and spending time with his family. He returned to the Visual Systems Division before another posting in Italy as a laboratory and project manager. Board membership is less stressful and time-consuming than earlier positions board members have taken on, while still offering an impressive income. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. He began his professional career as a senior research engineer in 3M laboratories in St. Paul. Equity grants most commonly vest immediately, or cliff-vest after one year. You can sometimes learn what companies seek in their board members by reading the companys annual proxy statement. 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. Mr. Anderson served without compensation as the President and Chief Executive Officer of Amtrak, an intercity passenger rail service provider, from July 2017 until his retirement on April 15, 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. They will provide invaluable insight and perspective to our board as we continue to position 3M for the future.". 3 0 obj That's a 43% increase over 10 years. This post is based on their FW Cook memorandum. That's actually a 5% increase from the year before. I took some time to think about it because the emotions of the time were raw and real, Garfield said. Monish is a certified chartered accountant and a certified cost accountant from the Institute of Cost and Works Accountants of India. If you experience any issues with this process, please contact us for further assistance. 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. 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. My new VP is in the company less than 6m and in the position 3m. The median annual retainer is $30,000, up from $28,000 in 2020. He has held a wide range of other senior executive positions at the Edison International companies since joining in 1999. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. Throughout her life and career, Karina has lived and worked around the world. endstream endobj startxref To effectively drive growth, it is important to keep the customer at the center of everything we do. 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. Three years later, he was tapped to lead 3M's corporate research lab. 118 0 obj <>/Filter/FlateDecode/ID[<7EC0A6CD8E76974B8000B812351B4C61><50CA0BECC4E50243A657300F9E70214C>]/Index[102 22]/Info 101 0 R/Length 82/Prev 76119/Root 103 0 R/Size 124/Type/XRef/W[1 2 1]>>stream Zoe joined 3M in 1998, and has held roles of increasing responsibility in human resources across the companys businesses and geographic areas. The Energy sector provides the highest median cash retainer for board service ($86,250) and Technology the lowest ($60,000). In his current position, John remains focused on driving change, challenging the status quo and helping develop the 3M leaders of tomorrow. The median compensation for members of private company boards of directors was $44,850 in 2021, according to a global study by Lodestone Global. Unsurprisingly, the board disagrees with the USW proposal. investorrelations@3M.com. How can I negotiate if they say the offer is off, Planning to bid on a house - 1.3M, with a base salary of 210K - in Seattle.. Worth it? The estimated total pay for a Director at 3M is $346,118 per year. Leadership is about serving more than yourself, he says. 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.
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