In this role, he leverages his many years of experience as both a technology and business leader. Mr. Pizarro is on the board of the following public company in addition to 3M: Edison International. Its about supporting constant iteration, until a point you make yourself obsolete.. Erics last role was Group President of Enterprise Operations, where he led global Manufacturing and Supply Chain for 3M, driving end-to-end optimization. Ms. Prior to 3M, Monish spent 26 years at GE where he held a variety of roles of increasing responsibility across GEs businesses. You may also find the annual proxy statement by going directly to the company's website. %PDF-1.6 % Ms. Craig is on the boards of the following public companies in addition to 3M: Corning, Inc.; Merck & Company; Progressive (Insurance) Corporation. John came to 3M in 1995 as a research chemist in the corporate R&D organization, working primarily on acrylic adhesives and tapes. In his current position, John remains focused on driving change, challenging the status quo and helping develop the 3M leaders of tomorrow. Mr. Dillon served as a Director of the Kroger Co. from 1995 through 2014. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. Not surprisingly, the most lucrative seats go to directors at S&P 500 companies. 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 Three years later, he was tapped to lead 3M's corporate research lab. endobj How accurate is this most likely Total Pay range (base + additional) of $270K-$455K/yr? The Company assumes no obligation to update or revise any forward-looking statements. In 2018, he was inducted into the Intellectual Property Hall of Fame by the IP Hall of Fame Academy. View original content to download multimedia:https://www.prnewswire.com/news-releases/anne-chow-and-pedro-pizarro-elected-to-3m-board-of-directors-301741429.html. 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. Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. You can sometimes learn what companies seek in their board members by reading the companys annual proxy statement. 3M CO annual reports of executive compensation and pay are most commonly found in the Def 14a documents. He previously had led 3Ms Digital Transformation, one of the companys three value creation levers. Monish joined 3M as senior vice president and chief financial officer in July 2020 and was drawn to the company for its history of innovation, ethics and global reach. 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. For nine straight years, 3M has been recognized by Ethisphere as one of the Worlds Most Ethical Companies. Personal health and fitness are his passion. They also recommended doing away with pension and . 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. . In January 2020, Environmental Responsibility was added to his role, including the Environment, Health and Safety organization. As a former Big, Mike is a long-time supporter of Big Brothers Big Sisters of America. Throughout Mikes career, he has lived and led businesses around the world, including the United States, Europe and Asia. As 3Ms senior vice president and chief strategy officer, Karina Chavez leads several functions including strategy, brand, design, sponsorships and events, and communications for the $32 billion science-based company. 3M Investor Relations Department In 2001, Mike returned to the U.S. as one of 3Ms first Six Sigma master black belts. Those two years, he says, are what really grounded him in company-wide priorities. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. (2005-2013) (alternate member of the Board of Directors, (1999 to 2005)) Previous experience. He previously served as chief operating officer, led 3Ms largest business group and was chief strategist. Coronavirus Tips Working and Protection, For its 2021 fiscal year, 3M CO, listed the following executives on its annual proxy statement to the SEC. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Similar to last year, 63% of companies provide additional compensation to committee members. He was assigned to lead 3Ms $5.5B Electronics & Energy Business Group in July 2017. He previously led the construction and home improvement business, and the companys corporate marketing and sales organization. St. Paul, MN 55144-1000 Ms. Lynch has helmed CVS Health since February 2021 and leads more than 300,000 employees, according to a . All proxy statements are public filings made available to the general public by the SEC. As a member of Board of Directors at 3M CO , Thomas made $320,487 in total compensation. The Company assumes no obligation to update or revise any forward-looking statements. Exelon Corporation. Incorporation is the legal process by which a business entity is formed. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Mr. Dillon is on the board of the following public company in addition to 3M: Union Pacific Corporation. 3M CO income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Approximately 85% of companies have director ownership guidelines, while stock retention requirements are less common, present at 42% of companies. 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. 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. 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. Head of Global Business Solutions, Fiserv, Inc. Look for a gap in expertise that might be left when a current board member steps down. 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. The companys financial objectives include continuing to grow above the markets it serves, expand margins and generate strong cash flow. I have been trying to get a review ever since and no one will say what is going on. Phone: 651-737-6501 or 800-3M-HELPS 3M Investor Relations Department Bldg. Engage in conversations about Director pay with other professionals in the community. He is a member of the Marketing Leadership Council and serves on several non-profit and community boards. 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%). Opening up lines of communication to a second- or even third-degree connection could lead to an excellent fit for the board position you seek. His growth mindset, inclusive leadership, and orientation toward developing talent and culture has helped him lead highly successful complex changes and significant transformation. He began his professional career as a senior research engineer in 3M laboratories in St. Paul. For the past eight years, Ms. You will compete for board positions with people who have been extremely successful at a young age. Effective April 1, 2019, Ashish was appointed to lead the newly created 3Ms Transportation and Electronics Business Group, with total revenues of approximately $10B. Retired Chairman of the Board and Chief Executive Officer, United Parcel Service, Inc., a provider of specialized transportation and logistics services. 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. Outside of work, Karina is an experience seeker, avid traveler and food lover who enjoys dancing and yoga. U.S. Securities and Exchange Commission. Kevin and his wife Melinda have three adult children. Board membership is less stressful and time-consuming than earlier positions board members have taken on, while still offering an impressive income. Eric serves on the boards of the U.S. Chamber of Commerce, St. Paul & Minnesota Foundation, and National Association of Manufacturing. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. 3M United States Investor Relations Governance Board of Directors Investor Relations IR Home About 3M Stock Information Financials Events & Presentations News Governance Resources Board of Directors Thomas K. Brown Retired Group Vice President, Global Purchasing, Ford Motor Company Anne H. Chow Retired Chief Executive Officer, AT&T Business Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? 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. 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. investorrelations@3M.com. Leadership is about serving more than yourself, he says. As a CTO, Ashish led the global 3M team of over 8,000 scientists and engineers. Its members include current board members, aspiring board members, and corporations looking to hire board members. He was appointed to the Board of Directors in October 2009, and became Chief Executive Officer of Textron in December 2009 and Chairman of 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. Prior to joining 3M in 2001, Kevin was a partner at Kirkland & Ellis in Chicago. Most recently he served as CFO of GE Healthcare. An audit committee is the part of a company's board of directors in charge financial reporting and disclosure. Kevin is a registered patent attorney and has served as President of the Intellectual Property Owners Association and the Association of Corporate Patent Counsel, as well as Chair of the Steering Committee of the Coalition for 21st Century Patent Reform. 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. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. The average mix across the entire sample is 43% cash and 57% equity. After spending almost two years with Aearo integrating it into 3M, Mike became managing director of 3M Brazil in 2009. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. from Grinnell College. In 2008, he returned to the U.S. to become vice president and general manager of Aearo Technologies LLC, which 3M acquired that year. Abbott Laboratories, Dept 364, Bldg. 3M Expands Board of Directors February 14, 2022. "The Types of Directors," Pages 1-2. 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. At 3M, we promise to treat your data with respect and will not share your information with any third party. 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. He has held a wide range of other senior executive positions at the Edison International companies since joining in 1999. We also reference original research from other reputable publishers where appropriate. 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. Chicago, IL 60603. Monish is a certified chartered accountant and a certified cost accountant from the Institute of Cost and Works Accountants of India. 224-1W-02 St. Paul, MN 55144-1000 Tel: (651) 737-6523 investorrelations@3M.com Michael Ferrante and Connor Damon are consultants at FW Cook. <> For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. President and CEO, Edison International, the parent company of Southern California Edison (SCE), one of the nations largest electric utilities, since 2016. Ive been fortunate enough to see this company from many, many anglesand 3M is impressive no matter where you are in the world.. From 1991 to 1997 he served as Executive Director, Purchasing and Transportation at QMS Inc. From 1976 to 1991 he served in various managerial roles at Digital Equipment Corporation. If you experience any issues with this process, please contact us for further assistance. Ferguson & Co, a former KPMG affiliate. 3Ms culture brings together passionate people with purpose and strategy to solve some of the worlds toughest challenges.. Leaders serve by creating an inclusive environment which values diverse perspectives, teamwork and innovation. As a member of Board of Directors at 3M CO, Muhtar Kent made $340,917 in total compensation. Download required. Retired Chairman of the Board and Chief Executive Officer The Kroger Co., a large retailer that operates retail food and drug stores, multi-department stores, jewelry stores, and convenience stores throughout the U.S. Mr. Dillon retired as Krogers Chairman of the Board on December 31, 2014, where he was Chairman of the Board since 2004 and was the Chief Executive Officer from 2003 through 2013. 3M provides a match up to a certain percent, 3M is a global science company that never stops inventing. Here are a couple of examples of what Fortune 500 companies pay their board members. 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. Non-employee directors also get every new Apple product for free on request and can purchase more at a discount. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. "I believe that building confidence and removing the fear of failure are key components of leadership," says Peter. Investopedia does not include all offers available in the marketplace. He can also be found running, antiquing, reading science fiction and spending time with his family. Due to the COVID-19 pandemic, 15% of S&P 500 companies and roughly 13% of Russell 3000 companies reported taking pay actions through the third quarter of 2020, which generally consisted of cash retainer reductions. <>/Metadata 125 0 R/ViewerPreferences 126 0 R>> Leadership is facilitating and embracing evolution, and accompanying the paths for change, Karina says. Mr. Fitterling was named CEO-elect of Dow in March 2018 prior to becoming CEO in July 2018, and he was elected chairman in April 2020. Dr. Moyo served as Global Economist & Capital Markets at Goldman Sachs from 2001 to 2008. He previously led the companys litigation function, and served for more than ten years as chief intellectual property counsel, with responsibility for managing the global intellectual property assets of 3M and its worldwide affiliates. The Technology sector provides the highest median equity retainer ($161,595) and Financial Services the lowest ($100,000). 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. Ms. Chow 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. 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. 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. @,s30_j0 \ %%EOF Mr. Eskew was appointed Executive Vice President in 1999 and Vice Chairman in 2000 before becoming Chairman of the Board and Chief Executive Officer of UPS in January 2002. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. ", Reuters. In connection with Ms. Chow and Mr. Pizarro's election, the Board of Directors increased its size from 11 to 13 members. Chairman of the Board and Chief Executive Officer, Executive Vice President, Chief Technology Officer and Environmental Responsibility, Senior Vice President and Chief Strategy Officer, Executive Vice President and Chief Human Resources Officer, Executive Vice President, Chief Country Governance and Services Officer, Group President, Transportation & Electronics, Group President, Consumer and Interim Group President, Health Care, Executive Vice President, Chief Information and Digital Officer, Executive Vice President, Chief Financial and Transformation Officer, Executive Vice President and Chief Legal Affairs Officer, Caution Concerning Forward-Looking Statements, SDS, RDS, More Regulatory & Compliance Information. 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. Dont have any other debt - however this expensive mortgage would take half my monthly salary (post tax).. She previously held executive leadership roles in global merchant sales and acquiring at Visa from 2016 to 2021. Approximately 94% of companies denominate equity awards as a dollar value rather than as a fixed number of shares. Mark holds a bachelors degree in electrical engineering from Purdue University, and an M.B.A. from Indiana University. In his free time, Kevin enjoys travel, outdoor activities including fishing, hiking and gardening, and spending time with his family. Description 3M Co. 3M Co. is a technology company, which manufactures industrial, safety, and consumer products. The offers that appear in this table are from partnerships from which Investopedia receives compensation. 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, .

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