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, . endstream endobj startxref What Is the Salary of the Federal Reserve Chair? To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. How accurate is this most likely Total Pay range (base + additional) of $270K-$455K/yr? The report recommended that companies start compensating board directors with cash and equity. Ms. Chow earned her bachelor's and master's degrees in electrical engineering, and a master's degree in business administration, from Cornell University. Suzan Kereere elected to 3M Board of Directors - Feb 9, 2022 You must click the activation link in order to complete your subscription. 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. In connection with Ms. Chow and Mr. Pizarro's election, the Board of Directors increased its size from 11 to 13 members. She is co-principal of Versaca Investments, a family office focused on growth investing globally she co-founded in 2021. I took some time to think about it because the emotions of the time were raw and real, Garfield said. You must click the activation link in order to complete your subscription. 102 0 obj <> endobj The information on this website, including any documents posted herein, contains a significant amount of information about 3M. Hornbaker suggests giving your resume to search firms youve dealt with in the past and letting them know you're interested in obtaining a board position. Rogers Corporation Board of Directors 224-1W-02 In recent years, companies have also begun to seek ethnic and gender diversity on their boards. The compensation analysis excludes any temporary reductions to director compensation implemented due to the pandemic. Ms. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. Lead, Columbia University's SIPA Tech & Policy Initiative; . 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. As a member of Board of Directors at 3M CO , Vance D. Coffman made $107,459 in total compensation. FW Cooks 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. Complement your online networking with face-to-face connections at events, conferences, and social gatherings, he says. Related Searches:All Director Salaries|All 3M Salaries. "U.S. company directors compensated more than ever, but now risk backlash.". Download required. The average mix across the entire sample is 43% cash and 57% equity. "Few Hours, Soaring Pay for Corporate Board Members.". She is also actively involved in charitable organizations, focused on education and on the advancement of women in business, including The Womens Forum of New York, New York University Stern School of Business, Junior Achievement of New Jersey, and is a board member for Smith College Trustees. From January 2006 through December 2006, Mr. Kent served as President of Coca-Cola International. 3M Company Board of Directors Compensation Committee Charter (As Amended February 10, 2003) A. You may also find the annual proxy statement by going directly to the company's website. 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. Approximately 90% of companies in the sample grant full-value stock awards exclusively (i.e., no stock options). The proxy statement's main purpose is to alert shareholders to the annual meeting and provide them information about the issues that will be voted on during the annual meeting, including decisions such as electing directors, ratifying the selection of auditors, and other shareholder-related decisions, including shareholder-initiated initiatives. This report is not for commercial use. You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). Karina led strategic planning for the companys international operations and served as managing director for 3M Indonesia. Ms. Kereere served in leadership positions at American Express from 1988 to 2016, including as head of its U.S. National Merchant Business and Global Network Business. I feel blessed and give everything I have to leave 3M in a better place, every day.. He received his J.D., magna cum laude, from Northwestern University; and his B.A. He was most recently head of 3Ms Health Care Business Group, and prior to that led the companys Consumer Business Group. SAI KRISHNA.docx - IBM Board of Directors (PAGE 10) Prior to 3M, Peter served as chief executive officer of TireHub, a joint venture last mile distributor between Bridgestone and Goodyear. from Grinnell College. How Should Board of Directors' Compensation Be Handled? - Diligent Dr. Moyo served as Global Economist & Capital Markets at Goldman Sachs from 2001 to 2008. Mr. Dillon served as a Director of the Kroger Co. from 1995 through 2014. Explore our Directors and their backgrounds. Jeff Lavers is the group president of 3Ms Consumer Business Group. Approximately 85% of companies have director ownership guidelines, while stock retention requirements are less common, present at 42% of companies. Country Governance and Services comprises Global Country Leadership, the Workplace Group, Global Service Centers, and 3Ms Emerging Markets. Jeff earned his bachelor of business administration degree in marketing and finance from the Robert O. Anderson School of Management at the University of New Mexico, Albuquerque. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. Additional pay could include bonus, stock, commission, profit sharing or tips. Hood joined Microsoft in 2002, and through her tenure with the company has advanced momentum in cloud and helped digitally transform the company. Aptiv PLC (Compensation and Human Resources, and Nominating and Governance committees) Additional Positions. Board of directors - Leadership and Governance - Exelon Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. Board of Directors | Committees | Abbott U.S. 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. Zoe has been the architect of 3Ms talent and organization effectiveness strategies, and a passionate advocate for embedding diversity, equity and inclusion across the company. Changes were relatively stable across industries; we observe that Financial Services, Industrials, and Technology companies had no increases in median total compensation, while Energy and Retail companies had increases of 3% and 2%, respectively. Anne Chow's career in the technology and business sectors spans over three decades. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. The estimated total pay for a Director at 3M is $345,577 per year. Erics last role was Group President of Enterprise Operations, where he led global Manufacturing and Supply Chain for 3M, driving end-to-end optimization. 4 0 obj Mike Roman is chairman of the board and chief executive officer of 3M, a $35 billion science and manufacturing company that improves lives around the world. 6 yrs at my current company. From December 2006 through June 2008, Mr. Kent served as President and Chief Operating Officer of The Coca-Cola Company. Jeff has lived and worked internationally for 3M, and always with a great passion on exceeding customer expectations. 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. It operates through the following segments: Safety and Industrial,. 3M CO income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Most recently he served as CFO of GE Healthcare. He most recently was Senior Vice President and Deputy General Counsel, advising senior management and the Board of Directors on legal issues. "Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? The more qualifications you can bring to the table, the better. Outside of work, Peter enjoys hiking, reading, and supporting the Glasgow Celtic soccer club and serves on the boards of CP Kelco and the Jesuit School of Theology of Santa Clara University. 3M (NYSE: MMM) believes science helps create a brighter world for everyone. Kereere has over 20 years of experience in leading global . Exelon Corporation. 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. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. Prior to that, Mr. Roman served as Executive Vice President and Chief Operating Officer of 3M Company from July 2017 to June 2018, Executive Vice President of 3Ms Industrial Business from May 2014 to June 2017, and Senior Vice President of Business Development from May 2013 to May 2014, with responsibility for 3Ms strategic roadmap. At 3M, we promise to treat your data with respect and will not share your information with any third party. Director Compensation Practices offers a comprehensive set of benchmarking data and analysis needed to inform the board pay design process. 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. Prior to her current role, she served as senior vice president of Talent, Learning and Insights. 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. 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. He has held a wide range of other senior executive positions at the Edison International companies since joining in 1999. Board of Directors | Corporate Governance | Dow Investor Relations It claims that including the USW proposal would involve "significant time, cost and resource . Posted by Michael Ferrante and Connor Damon, FW Cook, on, Harvard Law School Forum on Corporate Governance, Prevalence of annual limits on director compensation remains high, with equity-only limits continuing to be the most common approach, though use of total compensation limits. 0 Three years later, he was tapped to lead 3M's corporate research lab. In addition to his role at 3M, he is on the Presidents Council of Advisors on Science and Technology (PCAST), the Board of Trustees at the Science Museum of Minnesota and is an emeritus trustee for Hamline University. "2020 Proxy Statement," Page 12. Learn how we're working to improve lives and make what's next at 3M.com/newsor on Twitter at@3Mor@3MNews.

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