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. "2020 Proxy Statement," Page 12. Retired Group Vice President, Global Purchasing, Ford Motor Company, a global automotive industry leader. The brands listed above are trademarks of 3M. 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. Make sure your resume states what you will specifically bring to the table as a board member.. 6 yrs at my current company. degree from Harvard University and a Ph.D. in Economics from the University of Oxford. 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. Retired Chairman of the Board and Chief Executive Officer, The Kroger Co. Dr. Moyo earned a bachelors degree in chemistry and MBA degree in Business Administration from American University, an M.P.A. VUL^07d=xy2 *'..j(( Hs00 For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. 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, . Make sure you develop a board resume that positions you as qualified for the corporations board, says Rene Hornbaker, who currently serves on the boards of Eastman Chemical Company, The Freeman Company, and Tri Global Energy. In 2008, he returned to the U.S. to become vice president and general manager of Aearo Technologies LLC, which 3M acquired that year. Board membership is less stressful and time-consuming than earlier positions board members have taken on, while still offering an impressive income. 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 . Mike holds a masters degree in Electrical Engineering from the University of Southern California, and a bachelors degree from the University of Minnesota. 224-1W-02 From 1997 to 1999 he served in leadership positions at United Technologies Corporation, including its Vice President, Supply Management. Ms. from Grinnell College. You can sign up for additional alert options at any time. 1 0 obj Anne Chow and Pedro Pizarro elected to 3M Board of Directors, Caution Concerning Forward-Looking Statements, https://www.prnewswire.com/news-releases/anne-chow-and-pedro-pizarro-elected-to-3m-board-of-directors-301741429.html, SDS, RDS, More Regulatory & Compliance Information. Throughout Mikes career, he has lived and led businesses around the world, including the United States, Europe and Asia. After submitting your request, you will receive an activation email to the requested email address. 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. From December 2006 through June 2008, Mr. Kent served as President and Chief Operating Officer of The Coca-Cola Company. 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 CO annual reports of executive compensation and pay are most commonly found in the Def 14a documents. 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. Outside of work, Monish enjoys reading, music, watching cricket, playing tennis or badminton and spending time with his family. These include white papers, government data, original reporting, and interviews with industry experts. I have been trying to get a review ever since and no one will say what is going on. Executive search firms can streamline the process since theyll know about available positions. A decades-long career at 3M can span a diverse range of businesses, market segments and geographies, Mike says. 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. He previously worked at St. Jude Medical for more than 15 years, holding multiple technology roles of increasing responsibility. 102 0 obj <> endobj 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. 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. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. He was assigned to lead 3Ms $5.5B Electronics & Energy Business Group in July 2017. Eric joined 3M in 1997, and held several leadership positions in the Finance organization, primarily in Health Care and Electronics. 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. In early 2020, Garfield Bowen was leading global R&D operations and project management for one of 3Ms largest divisions when he got a call from the chief human resources officer a call that would completely change his career trajectory. Page is on the board of the following public companies in addition to 3M: Eaton Corporation, Deere & 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 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.. Head of Global Business Solutions, Fiserv, Inc. He most recently was Senior Vice President and Deputy General Counsel, advising senior management and the Board of Directors on legal issues. As executive vice president and chief human resources officer, Zoe Dickson leads 3Ms transformative agenda for people and culture. The Company assumes no obligation to update or revise any forward-looking statements. The estimated base pay is $176,306 per year. As CEO, she was responsible for AT&T's Business Solutions organization that provided a full suite of business services across wireless, networking, cybersecurity, and advanced solutions, serving nearly 3million business customers in more than 200 countries and territories around the world. Dr. Ashish Khandpur is group president of 3Ms Transportation and Electronics Business Group. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. The Health Care Business Group makes better health possible by delivering proven innovations in medical and oral care, health information systems, and food safety, enabling healthcare professionals to improve quality of care for millions of people around the globe. The Technology sector provides the highest median equity retainer ($161,595) and Financial Services the lowest ($100,000). As executive vice president, chief technology officer and environmental responsibility, Dr. John Banovetz leads more than 8,000 scientists who connect 3Ms 51 technology platforms to solve the real-world needs of customers around the world. The companys financial objectives include continuing to grow above the markets it serves, expand margins and generate strong cash flow. Sleep, Mike jokes, though he will say more seriously that he tries to focus his energies where they will do the most good. The Board of Directors (the "Board") of 3M Company ("3M" or the "Company") has adopted these guidelines, which in conjunction with the Certificate of Incorporation, Bylaws, and Board . Retired Group Vice President, Global Purchasing, Ford Motor Company, Retired Chief Executive Officer, AT&T Business, Retired Chief Financial Officer, Accenture. AP6D. Its that excitement, mixed with his incredible passion and leadership, that has led to some of 3Ms biggest equitable actions in the past year. Mr. Pizarro earned his bachelor's degree in chemistry from Harvard University and his Ph.D. in chemistry from the California Institute of Technology. In 2017 she was named global business director for 3Ms home improvement business, until 2020 when she became senior vice president for customer operations. Ms. Lynch has helmed CVS Health since February 2021 and leads more than 300,000 employees, according to a . investorrelations@3M.com. 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. Average compensation in 2018 at those firms was $304,856, according to Reuters. Non-employee directors also receive an annual cash retainer of $100,000. Outside of work he enjoys reading, following college sports and spending time with his family. Executive Vice President and Chief Financial Officer of Microsoft Corporation, a global technology company. She currently serves as Lead Director on the Board of Directors for FranklinCovey and as Adjunct Professor of Executive Education at the Kellogg School of Management, Northwestern University. 3M Investor Relations Department That's actually a 5% increase from the year before . 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. 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. Ms. Craig is on the boards of the following public companies in addition to 3M: Corning, Inc.; Merck & Company; Progressive (Insurance) Corporation. ", Veritas. He was a senior research chemist in the Visual Systems Division before joining 3M Italy as a product development engineer. The median decrease in director compensation was 50% at S&P 500 companies and 40% at Russell 3000 companies. He is past-chair of the board of Big Brothers Big Sisters of America, past president of the Northern Star Council of the Boy Scouts of America and continues to serve on both boards as well as the board of Alight (formerly known as the American Refugee Committee). Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? Mr. 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. During his assignment as the laboratory head in India, Ashish was responsible for establishing its first product development laboratory and capabilities. Mr. Pizarro is on the board of the following public company in addition to 3M: Edison International. 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? Related Searches:All Director Salaries|All 3M Salaries. Leadership is facilitating and embracing evolution, and accompanying the paths for change, Karina says. The most common director ownership guideline is 5x the annual cash retainer with a 5-year timeframe to meet the guideline. Could you fill that gap? 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. Dr. Moyo was Chief Executive of Officer of Mildstorm LLC, a financial and economics firm, from 2015 to 2021. Approximately 94% of companies denominate equity awards as a dollar value rather than as a fixed number of shares. The proxy statement also says the company isseekingexpertise in governance, strategy, development, and execution; people who understand financial, operational and strategic issues facing large retail companies; global or international business experience; technology and e-commerce experience; marketing, brand management or public relations experience; finance, accounting, or financial reporting experience; or regulatory or legal experience. If you experience any issues with this process, please contact us for further assistance. To effectively drive growth, it is important to keep the customer at the center of everything we do. 3 0 obj If you experience any issues with this process, please contact us for further assistance. Page served as Executive Director of Cargill from 2015 to 2016, Executive Chairman from 2013 to 2015, Chief Executive Officer from 2007 to 2013, and President from 2000 to 2007. Mr. Dillon is on the board of the following public company in addition to 3M: Union Pacific Corporation. Mr. Pizarro is a vice chairman of the Edison Electric Institute, a director of the Electric Power Research Institute, a member of the Electricity Subsector Coordinating Council, and a Trustee of the California Institute of Technology. It operates through the following segments: Safety and Industrial,. Formal board meetings where all the directors are present typically occur four to six times per year, depending on the company. Similar to last year, 63% of companies provide additional compensation to committee members. He returned to the Visual Systems Division before another posting in Italy as a laboratory and project manager. 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. Inside directors, who are mostly C-suite level executives, don't receive additional compensation. For example, audit committees have regular meetings before public filings, she says. Averages based on self-reported salaries. 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. Zoe joined 3M in 1998, and has held roles of increasing responsibility in human resources across the companys businesses and geographic areas. "We are very pleased to further strengthen 3M's board with two highly accomplished, world-class leaders," said 3M chairman and CEO Mike Roman. Dow's Board of Directors exemplifies good governance with solid, diverse experience and credentials. 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. By unlocking the power of people, ideas, and science to reimagine what's possible, our global team uniquely addresses the opportunities and challenges of our customers, communities, and planet. 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. A board of directors (B of D) is the governing body of a company, elected by shareholders to set strategy and oversee management. Lead, Columbia University's SIPA Tech & Policy Initiative; . An audit committee is the part of a company's board of directors in charge financial reporting and disclosure. Mr. Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. St. Paul, MN 55144-1000 Retired Chairman of the Board and Chief Executive Officer, United Parcel Service, Inc., a provider of specialized transportation and logistics services. At 3M, we promise to treat your data with respect and will not share your information with any third party. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. Tel: (651) 737-6523 He can also be found running, antiquing, reading science fiction and spending time with his family. The charts on this page feature a breakdown of the total annual pay for the top executives at 3M CO as reported in their proxy statements. His team supports the success of the 3M Operating Model, ensuring strong customer and employee engagement globally, protecting the reputation of 3M, providing world global services, while driving the companys workplace transformation strategy. As vice president of operational transformation, he led the companys transformation initiatives driving operating rigor and lean management across the company. "People achieve great things when they are embraced and valued; when they are connected, not isolated; and when their intelligence and imagination are unleashed".