Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Erics last role was Group President of Enterprise Operations, where he led global Manufacturing and Supply Chain for 3M, driving end-to-end optimization. 10 S. Dearborn St., 54th Floor. By learning about the backgrounds of existing board members, you can extrapolate what the company is probably looking for in new ones. The median annual retainer is $30,000, up from $28,000 in 2020. 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. 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. Additional pay could include bonus, stock, commission, profit sharing or tips. Country Governance and Services comprises Global Country Leadership, the Workplace Group, Global Service Centers, and 3Ms Emerging Markets. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. In connection with Ms. Chow and Mr. Pizarro's election, the Board of Directors increased its size from 11 to 13 members. She earned her degree in manufacturing engineering from Brunel University London, and diploma in personnel management from Thames Valley University. The companys 96,000 employees are united by a common purpose: unlocking the value of people, science, and ideas to re-imagine what is possible. The estimated base pay is $176,111 per year. 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. He was most recently head of 3Ms Health Care Business Group, and prior to that led the companys Consumer Business Group. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. For nine straight years, 3M has been recognized by Ethisphere as one of the Worlds Most Ethical Companies. Mr. Dillon is on the board of the following public company in addition to 3M: Union Pacific Corporation. 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. By learning about the backgrounds of existing board members, you can extrapolate what they may be looking for in new ones. 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, . Mark Murphy has more than two decades of experience developing and leading global technology organizations across multiple industries including healthcare, medical device, retail and financial services. He previously had led 3Ms Digital Transformation, one of the companys three value creation levers. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. Dr. Moyo was Chief Executive of Officer of Mildstorm LLC, a financial and economics firm, from 2015 to 2021. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Its about supporting constant iteration, until a point you make yourself obsolete.. Ms. Kereere has over 20 years of experience leading global businesses around the world, including in Europe, Australia, Asia and North America. Throughout his career Jeff has held leadership roles spanning all four of 3Ms business groups, including positions in the companys health care and industrial businesses, and most recently as leader of the automotive and aerospace business. The median decrease in director compensation was 50% at S&P 500 companies and 40% at Russell 3000 companies. They also recommended doing away with pension and . Compensation for board members can easily reach $300,000 to $500,000 a year, according to Veritas, an executive compensation consulting service. Mike serves as a member of the board of directors of The Toro Company and is a former trustee of the Science Museum of Minnesota. Dr. Moyo served as Global Economist & Capital Markets at Goldman Sachs from 2001 to 2008. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. Ms. Chow is on the board of the following public company in addition to 3M: FranklinCovey. Can we afford $1.3M home? Zoe is a chartered member of Chartered Institute of Personnel & Development. 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. Lead, Columbia University's SIPA Tech & Policy Initiative; . VUL^07d=xy2 *'..j(( Hs00 Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. He retired as Chairman of the Board and Chief Executive Officer at the end of 2007 but remained as a director of UPS until December 31, 2014. Its members include current board members, aspiring board members, and corporations looking to hire board members. Ive been fortunate enough to see this company from many, many anglesand 3M is impressive no matter where you are in the world.. 3 0 obj Chairman and Chief Executive Officer of Dow, Inc., a leading global materials science company. 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. After submitting your request, you will receive an activation email to the requested email address. Throughout her life and career, Karina has lived and worked around the world. Retired, Chief Executive Officer of AT&T Business, an organization that provided a full suite of business services across wireless, networking, cybersecurity, and advanced solutions, serving nearly 3 million business customers in more than 200 countries and territories around the world. This compensation may impact how and where listings appear. Page is on the board of the following public companies in addition to 3M: Eaton Corporation, Deere & Company. 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. . We also reference original research from other reputable publishers where appropriate. Incorporation is the legal process by which a business entity is formed. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Prior to 3M, Peter served as chief executive officer of TireHub, a joint venture last mile distributor between Bridgestone and Goodyear. Investopedia requires writers to use primary sources to support their work. Under Mikes leadership, 3M has also helped lead the worlds response to COVID-19, which includes distributing more than 4 billion respirators to protect nurses, doctors and first responders. "We are very pleased to further strengthen 3M's board with two highly accomplished, world-class leaders," said 3M chairman and CEO Mike Roman. 4 0 obj 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. "Private Company Board Compensation Survey. "3M is a globally diverse company in so many dimensions," Ashish says. 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. You'll want to pursue networking both online and offline. You must click the activation link in order to complete your subscription. At 3M, we promise to treat your data with respect and will not share your information with any third party. Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. She is married with two teenage children, and enjoys hiking, baking, and exploring the world with her family. 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. Mike and his family enjoy a variety of physical fitness and outdoor activities. Most recently he served as CFO of GE Healthcare. 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. Lead directors are also almost always provided with additional compensation, ranging from approximately $20,000 to $35,000 at the median across all size and sector groups. This is a defining time for all companies and 3M is no different in that respect, Scott said. After submitting your request, you will receive an activation email to the requested email address. Walmart. 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. 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. Head of Global Business Solutions, Fiserv, Inc. Averages based on self-reported salaries. Mr. Pizarro is on the board of the following public company in addition to 3M: Edison International. John and his team also oversee 3Ms environmental responsibility efforts, with a focus on advancing environmental stewardship and accelerating 3Ms environmental commitments. This post is based on their FW Cook memorandum. 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. The estimated total pay for a Director at 3M is $346,118 per year. 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? Outside directors who hold certain board positions receive an additional annual retainer:$35,000 for the lead independent director; $25,000 for audit committee members and for compensation, nominating, and governance committee members; and $20,000 for strategic planning and finance committee chairs and for technology and eCommerce committee chairs. In his free time, Kevin enjoys travel, outdoor activities including fishing, hiking and gardening, and spending time with his family. After submitting your request, you will receive an activation email to the requested email address. He previously led the construction and home improvement business, and the companys corporate marketing and sales organization. The brands listed above are trademarks of 3M. 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. In 2018, he was inducted into the Intellectual Property Hall of Fame by the IP Hall of Fame Academy. Bldg. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. I feel blessed and give everything I have to leave 3M in a better place, every day..
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