3m board of directors compensation

"Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? Prior to 3M, Mark served as Chief Information Officer for Abbott Laboratories where he had global responsibilities for Abbotts technology landscape. ", Reuters. Walmart. Mark holds a bachelors degree in electrical engineering from Purdue University, and an M.B.A. from Indiana University. She has been married more than 20 years, with two teenage kids. 3M CO annual reports of executive compensation and pay are most commonly found in the Def 14a documents. 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. Jeff Lavers is the group president of 3Ms Consumer Business Group. Rogers adds, Board members are the representatives of the shareholders, and it is their fiduciary duty to oversee the affairs of the corporation, including overall performance and fiscal strength, and to serve as a consultant for managementparticularly with respect to the strategic and operational directives of the company.. <>/Metadata 125 0 R/ViewerPreferences 126 0 R>> In this role, Kevin led ongoing efforts during the COVID-19 pandemic to combat fraud, counterfeiting, and price gouging of N95 respirators. If you experience any issues with this process, please contact us for further assistance. She earned her degree in manufacturing engineering from Brunel University London, and diploma in personnel management from Thames Valley University. If you experience any issues with this process, please contact us for further assistance. "I believe that building confidence and removing the fear of failure are key components of leadership," says Peter. If youre interested in pursuing a board seat, heres what you need to know about what boards are looking for, how to get noticed, and what to expect as compensation. Serving on a corporate board of directors can be a lucrative side gig or second career for high-profile executives and recent retirees. "We are very pleased to further strengthen 3M's board with two highly accomplished, world-class leaders," said 3M chairman and CEO Mike Roman. 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. Chairman and Chief Executive Officer of Dow, Inc., a leading global materials science company. 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, . The board chair receives an additional $200,000; the audit committee chair receives an additional $35,000; the compensation committee chair receives an additional $30,000, and the nominating committee chair receives an additional $25,000. 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. 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. Additional pay could include bonus, stock, commission, profit sharing or tips. Michael Ferrante and Connor Damon are consultants at FW Cook. At 3M, we promise to treat your data with respect and will not share your information with any third party. Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. Over the years, his career with 3M has sent him abroad four times for varied roles, including research chemist, manufacturing director and general manager. President Joe Biden intends to name Karen Lynch, CEO of CVS Health, to his Export Council. Another example would be compensation meetings to discuss compensation plans and awards.. Effective July 1, 2022, Jeff is also leading 3Ms Health Care Business Group on an interim basis. Three years later, he was tapped to lead 3Ms corporate research lab. As a member of Board of Directors at 3M CO, Muhtar Kent made $340,917 in total compensation. Unsurprisingly, the board disagrees with the USW proposal. Investopedia requires writers to use primary sources to support their work. 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. 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. endobj Retired Chairman and Chief Executive Officer of Cargill. 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. 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. stream Help make it more accurate by, Get started with your Free Employer Profile, average salary for a Director is $129,368 per year in United States, The Ultimate Job Interview Preparation Guide. 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. It operates through the following segments: Safety and Industrial,. c/o Abbott Corporate Secretary. Ms. Craig is on the boards of the following public companies in addition to 3M: Corning, Inc.; Merck & Company; Progressive (Insurance) Corporation. Effective April 1, 2019, Ashish was appointed to lead the newly created 3Ms Transportation and Electronics Business Group, with total revenues of approximately $10B. Know Your Worth. oYgd=??/_C|72KFSI. The brands listed above are trademarks of 3M. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. If you experience any issues with this process, please contact us for further assistance. Ive been fortunate enough to see this company from many, many anglesand 3M is impressive no matter where you are in the world.. 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. They also recommended doing away with pension and . Dont have any other debt - however this expensive mortgage would take half my monthly salary (post tax).. A. You must click the activation link in order to complete your subscription. Investopedia does not include all offers available in the marketplace. It begins with actively listening and then relentlessly working to deliver outcomes to solve customer problems, says Monish. 224-1W-02 He joined 3M in October 2021 as executive vice president and chief information & digital officer, helping lead the digital transformation of the $32 billion science-based company. To find out what any publicly held company pays its board members, read the companys annual proxystatement, available from its corporate website or the Securities and Exchange Commission website. degree from Harvard University and a Ph.D. in Economics from the University of Oxford. Dr. Moyo was Chief Executive of Officer of Mildstorm LLC, a financial and economics firm, from 2015 to 2021. Retired Group Vice President, Global Purchasing, Ford Motor Company, a global automotive industry leader. 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. 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. John came to 3M in 1995 as a research chemist in the corporate R&D organization, working primarily on acrylic adhesives and tapes. Leadership is about serving more than yourself, he says. As a member of Board of Directors at 3M CO , Vance D. Coffman made $107,459 in total compensation. You may communicate with the board of directors by writing a letter to the chairman of the board, to the chairman of the nominations and governance committee, who acts as the lead director at the meetings of the independent directors, or to the independent directors. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. Using 46 technology platforms, our integrated team of scientists and researchers.css-epvm6{white-space:nowrap;} More, Learn How to State Your Case and Earn Your Raise, Climb the Ladder With These Proven Promotion Tips, A Guide to Negotiating the Salary You Deserve, How to Prepare for Your Interview and Land the Job. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. Hornbaker says attending committee meetings might be another responsibility. St. Paul, MN 55144-1000 He returned to the Visual Systems Division before another posting in Italy as a laboratory and project manager. All proxy statements are public filings made available to the general public by the SEC. Approximately 90% of companies in the sample grant full-value stock awards exclusively (i.e., no stock options). 224-1W-02 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 average mix across the entire sample is 43% cash and 57% equity. The median annual retainer is $30,000, up from $28,000 in 2020. 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. Board membership is less stressful and time-consuming than earlier positions board members have taken on, while still offering an impressive income. Abbott Laboratories, Dept 364, Bldg. The Energy sector provides the highest median cash retainer for board service ($86,250) and Technology the lowest ($60,000). Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. "The Types of Directors," Pages 1-2. Compensation for board members can easily reach $300,000 to $500,000 a year, according to Veritas, an executive compensation consulting service. 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. Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? Higher-paying sectors tend to place a greater weighting on equity; Energy and Technology companies have the most equity-heavy mix while Financial Services organizations have the least. 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). She has lived and worked around the world for 3M, including in Asia Pacific, Europe and the United States. The Company assumes no obligation to update or revise any forward-looking statements. In 2008, he returned to the U.S. to become vice president and general manager of Aearo Technologies LLC, which 3M acquired that year. 3M (NYSE: MMM) believes science helps create a brighter world for everyone. I feel blessed and give everything I have to leave 3M in a better place, every day.. Personal health and fitness are his passion. Obviously, if there is a crisis or a strategic issuefor example, an acquisitionthe number of hours for a director can dramatically increase, Rogers says. You can sign up for additional alert options at any time. Phone: 651-737-6501 or 800-3M-HELPS 3M Investor Relations Department Bldg. Why Investors Should Look at the Proxy Statement, Disney Names New Chair, Eases Park Rules Amid Proxy Battle. Before joining the Edison International companies, Mr. Pizarro was a senior engagement manager with McKinsey & Company. 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. 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. So what does he do when hes not in the office? Mr. Pizarro served as president of SCE from 2014 to 2016. You will compete for board positions with people who have been extremely successful at a young age. Every day her team is focused on attracting, supporting, and developing talent, and ensuring 3M is a place where everyone belongs, learns, innovates and thrives. The 3M board of directors is mostly composed of former CEOs. 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. 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. Tel: (651) 737-6523 Dr. Moyo earned a bachelors degree in chemistry and MBA degree in Business Administration from American University, an M.P.A. You can sometimes learn what companies seek in their board members by reading the companys annual proxy statement. investorrelations@3M.com. 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. In his spare time, he dedicates himself to being a loving husband and father and growing his family. 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. Most recently he served as CFO of GE Healthcare. This compensation may impact how and where listings appear. Ms. Chow is on the board of the following public company in addition to 3M: FranklinCovey. The report recommended that companies start compensating board directors with cash and equity. Inside directors, who are mostly C-suite level executives, don't receive additional compensation. Average compensation in 2018 at those firms was $304,856, according to Reuters. CleanLink News. Mr. Kent held the position of Chairman of the Board from April 23, 2009 to April 30, 2019. 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. <> Mr. Fitterling is also a passionate advocate for inclusion and diversity with a focus on diversifying Dows global talent, enhancing innovation and the customer experience, and strengthening relationships in the communities the company serves.

Texas Roadhouse Kids Menu, America Mega Million Lottery Sweepstakes Division Of Unclaimed Funds, Mike Trout Workout And Diet, Look Who Got Busted Hays County, Patrick Hughes And Charles Nelson Reilly, Articles OTHER