3m board of directors compensation

Kereere has over 20 years of experience in leading global . endstream endobj startxref 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. For the past eight years, Ms. She has been married more than 20 years, with two teenage kids. You must click the activation link in order to complete your subscription. He holds a bachelors degree in Physics from University of Edinburgh and a masters degree in Business Administration from Strathclyde Business School in Glasgow, Scotland. Incorporation is the legal process by which a business entity is formed. Exelon Corporation. "People achieve great things when they are embraced and valued; when they are connected, not isolated; and when their intelligence and imagination are unleashed". Mr. Pizarro earned his bachelor's degree in chemistry from Harvard University and his Ph.D. in chemistry from the California Institute of Technology. Complement your online networking with face-to-face connections at events, conferences, and social gatherings, he says. 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. Mike joined the company in 1992, shortly after earning a Ph.D. in chemistry from M.I.T. 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.. Tel: (651) 737-6523 She is co-principal of Versaca Investments, a family office focused on growth investing globally she co-founded in 2021. 3Ms purpose drives its performance, and the company is advancing four strategic priorities to support long-term value creation: Portfolio Management, Transforming the 3M Operating Model, Growth through Innovation, and People and Culture. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. 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. Page is on the board of the following public companies in addition to 3M: Eaton Corporation, Deere & Company. Ms. Kereere is also a longtime champion for equity and inclusion in business and society. Additional pay could include bonus, stock, commission, profit sharing or tips. For example, some of the qualities Wal-Mart says its looking for in board members include:"outstanding achievement in their professional careers; broad experience and wisdom; personal and professional integrity; ability to make independent, analytical inquiries; experience with and understanding of the business environment; willingness and ability to devote adequate time to Board duties.". You can sign up for additional alert options at any time. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. He returned to the Visual Systems Division before another posting in Italy as a laboratory and project manager. Most companies continue to use fixed-value equity award guidelines, with full-value stock awards remaining the most common form of equity compensation and providing the most consistent means to align director pay with shareholder interests. 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. ", Reuters. Boards aren't entirely made up of retirees and people nearing the end of their careers. The Technology sector provides the highest median equity retainer ($161,595) and Financial Services the lowest ($100,000). 6 yrs at my current company. Ms. Kereere has over 20 years of experience leading global businesses around the world, including in Europe, Australia, Asia and North America. Private Company Board Compensation and Governance 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. 3M has increased its dividend for 64 straight years. Mike is most proud of seeing the success of coworkers and people he has mentored during his time at the company. The compensation analysis excludes any temporary reductions to director compensation implemented due to the pandemic. Averages based on self-reported salaries. If you experience any issues with this process, please contact us for further assistance. Throughout her life and career, Karina has lived and worked around the world. 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. 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. Inside directors, who are mostly C-suite level executives, don't receive additional compensation. Non-employee directors also receive an annual cash retainer of $100,000. The median decrease in director compensation was 50% at S&P 500 companies and 40% at Russell 3000 companies. "Anne has decades of experience in technology and business, and a proven track record of transforming global organizations and community engagement. 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 They range from recent retirees and people nearing retirement to younger people who've experienced early successes in business. Retired Chairman and Chief Executive Officer of Cargill. Not surprisingly, the most lucrative seats go to directors at S&P 500 companies. Executive search firms can streamline the process since theyll know about available positions. Approximately 90% of companies in the sample grant full-value stock awards exclusively (i.e., no stock options). Mr. Dillon is on the board of the following public company in addition to 3M: Union Pacific Corporation. % When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. Non-executive board chairs are almost always provided additional compensation for the role, with the median ranging from $72,500 at small-cap companies to $175,000 at large-cap companies. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. His growth mindset, inclusive leadership, and orientation toward developing talent and culture has helped him lead highly successful complex changes and significant transformation. They may contain forward-looking information about 3Ms financial results, estimates and business prospects that involve substantial risks and uncertainties that could cause actual results to differ materially. Serving on a corporate board of directors can be a lucrative side gig or second career for high-profile executives and recent retirees. Country Governance and Services comprises Global Country Leadership, the Workplace Group, Global Service Centers, and 3Ms Emerging Markets. She earned a B.A. [Br*L7r/Nv&rrzDGx0V:o,eIY^'(O >vXT cct"o3jvYEfp.w$}0BirMZIHI6M)9z?eOtp'pON{~YN>=mCs:a'heTb\G. As a board member, your responsibilities would typically include preparing for and attending board meetings, and reviewing company filings and materials, she says, as well as advising management on a wide range of matters, including succession, strategy, compensation, and acquisitions. It operates through the following segments: Safety and Industrial,. 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. He served in that role until 2012, when he became global business director for 3M's Industrial Adhesives and Tapes Division. Board membership is less stressful and time-consuming than earlier positions board members have taken on, while still offering an impressive income. Once you find a good prospect, you must be nominated by the nomination committee, then approved by shareholder election. The brands listed above are trademarks of 3M. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Dr. Moyo was Chief Executive of Officer of Mildstorm LLC, a financial and economics firm, from 2015 to 2021. You must click the activation link in order to complete your subscription. 1 0 obj 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. 03.03.2023 - Leonteq AG / Key word(s): AGMEGM Press release: Leonteq publishes agenda and proposal of the Board of Directors for the Annual General Meeting 2023 03.03.2023 / 07:00 CET/CEST PRESS . He served as Coca-Colas Chief Executive Officer from July 2008 to April 2017. 102 0 obj <> endobj 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. In 2003 he joined McKinsey & Company, and in 2007 rejoined 3M and assumed responsibility for the overall planning and implementation of corporate strategic initiatives. We also reference original research from other reputable publishers where appropriate. How Much Board of Directors Members Get Paid and What They Do 224-1W-02 He began his professional career as a senior research engineer in 3M laboratories in St. Paul. U.S. Securities and Exchange Commission. He has held a wide range of other senior executive positions at the Edison International companies since joining in 1999. A proxy statement is a document the SEC requires companies to provide shareholders that includes information needed to make decisions at shareholder meetings. In 2008, he returned to the U.S. to become vice president and general manager of Aearo Technologies LLC, which 3M acquired that year. I feel blessed and give everything I have to leave 3M in a better place, every day.. Dr. Moyo served as Global Economist & Capital Markets at Goldman Sachs from 2001 to 2008. Mike Vale leads 3Ms Safety & Industrial Business Group, which includes personal safety, adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules. In 2016, John moved to West Europe to serve as managing director of 3M's D-A-CH region, which represents the company's combined operations in . In 2011, he became executive vice president of the Consumer Business Group, and in 2016 was appointed executive vice president of the Health Care Business Group. Definition, What's In It, and Voting, Non-Executive Director Role and Responsibilities Defined, Fiduciary Definition: Examples and Why They Are Important, Private Company Board Compensation Survey. To effectively drive growth, it is important to keep the customer at the center of everything we do. "2020 Proxy Statement," Page 12. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. The Boston Globe reports that the average time commitment to serve on a board is fewer than five hours per week. 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. The estimated base pay is $176,306 per year. In 2016, John moved to West Europe to serve as managing director of 3Ms D-A-CH region, which represents the companys combined operations in Germany, Austria and Switzerland. Ms. 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. Karina led strategic planning for the companys international operations and served as managing director for 3M Indonesia. %PDF-1.6 % A decades-long career at 3M can span a diverse range of businesses, market segments and geographies, Mike says. 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. 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. 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. Deloitte. Effective July 1, 2022, Jeff is also leading 3Ms Health Care Business Group on an interim basis. St. Paul, MN 55144-1000 Over the years, his career with 3M has sent him abroad four times for varied roles, including research chemist, manufacturing director and general manager. Shareholders can communicate with the Chairman of the Corporate Governance Committee or with the independent directors as a group by writing to them c/o: Gayle Littleton, Executive Vice President, General Counsel. He most recently was Senior Vice President and Deputy General Counsel, advising senior management and the Board of Directors on legal issues. Leaders serve by creating an inclusive environment which values diverse perspectives, teamwork and innovation. 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: the large-cap median increased 1.6% to $290,000, the mid-cap median increased 1.7% to $216,950, and the small-cap median increased 5.1% to $163,500. endobj Throughout Mikes career, he has lived and led businesses around the world, including the United States, Europe and Asia. 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. Engage in conversations about Director pay with other professionals in the community. from Grinnell College. The average mix across the entire sample is 43% cash and 57% equity. Learn how this feature works. 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 (subject to ratification by the independent directors of the Board) the compensation for 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. The Board has delegated certain authority to a number of standing committees, including an Audit Committee, Compensation and Organization Committee and Nominating and Governance Committee. You'll want to pursue networking both online and offline. Dr. Moyo earned a bachelors degree in chemistry and MBA degree in Business Administration from American University, an M.P.A. 224-1W-02 CleanLink News. 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. Ms. Craig is on the boards of the following public companies in addition to 3M: Corning, Inc.; Merck & Company; Progressive (Insurance) Corporation. Throughout his 20-year 3M career, Kevin has led legal teams in areas of increasing responsibility. Mike and his family enjoy a variety of physical fitness and outdoor activities. The Technology and Industrials sectors have the highest prevalence of stock options at 18% and 10% prevalence, respectively, granted in isolation or in tandem with full-value stock awards. Thorough reviews have been conducted to assure this data accurately reflects disclosures. He received his J.D., magna cum laude, from Northwestern University; and his B.A. 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. Prior to 3M, she served as a business leader and consultant for various companies in Mexico and Europe. 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