U.S. Securities and Exchange Commission. From January 2006 through December 2006, Mr. Kent served as President of Coca-Cola International. 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 . To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. In this role, he leverages his many years of experience as both a technology and business leader. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. Related Searches:All Director Salaries|All 3M Salaries. oYgd=??/_C|72KFSI. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. Three years later, he was tapped to lead 3Ms corporate research lab. x\s6(uj L3#inj'Flt?MR4(X,v _u]o_m-W?wpys1_#i5HJ The Board is mainly comprised of outside, independent directors. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. 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. Exelon Corporation. You must click the activation link in order to complete your subscription. 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. 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. Equity grants most commonly vest immediately, or cliff-vest after one year. 224-1W-02 The brands listed above are trademarks of 3M. endobj The companys 96,000 employees are united by a common purpose: unlocking the value of people, science, and ideas to re-imagine what is possible. They range from recent retirees and people nearing retirement to younger people who've experienced early successes in business. Explore our Directors and their backgrounds. Mr. 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. This compensation may impact how and where listings appear. Sleep, Mike jokes, though he will say more seriously that he tries to focus his energies where they will do the most good. 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. News & Views 2/17/2022 3M Adds To Board Of Directors. 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. 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. The report is complemented by an online dashboard, which enables users to delve into the most recent corporate disclosures by Russell 3000 companies and review individual elements of compensation packages, supplemental compensations for committee service . 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.. Description 3M Co. 3M Co. is a technology company, which manufactures industrial, safety, and consumer products. degree from Harvard University and a Ph.D. in Economics from the University of Oxford. 1 0 obj Tel: (651) 737-6523 Inspired, passionate leaders have the power to transform, Jeff says. He most recently was Senior Vice President and Deputy General Counsel, advising senior management and the Board of Directors on legal issues. I believe great leaders are great listeners who carry themselves with humility, authenticity, accessibility, transparency and integrity.. Hornbaker says attending committee meetings might be another responsibility. Dr. Moyo served as Global Economist & Capital Markets at Goldman Sachs from 2001 to 2008. He serves on the board of Abbott Laboratories and on the University of Minnesota Foundation Board of Trustees. Home to some of 3Ms most iconic brands, this business serves global consumers and consists of construction and home improvement, stationery and office supplies, home care, and consumer health care. In 2008, he returned to the U.S. to become vice president and general manager of Aearo Technologies LLC, which 3M acquired that year. He led 3Ms International Finance organization, and also served four years as 3Ms Senior Vice President of FP&A and Chief Accounting Officer. Over the years, he has held various positions of increasing responsibility in corporate research and division labs. The most common director ownership guideline is 5x the annual cash retainer with a 5-year timeframe to meet the guideline. He was assigned to lead 3Ms $5.5B Electronics & Energy Business Group in July 2017. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Leadership is about connecting with and inspiring others to achieve their best, Mark says. 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. Ms. Kereere has over 20 years of experience leading global businesses around the world, including in Europe, Australia, Asia and North America. Karina led strategic planning for the companys international operations and served as managing director for 3M Indonesia. 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. "Private Company Board Compensation Survey. You'll want to pursue networking both online and offline. They will provide invaluable insight and perspective to our board as we continue to position 3M for the future.". 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. Chicago, IL 60603. Dr. Moyo is on the board of the following organizations in addition to 3M: Chevron Corporation and Conde Nast. He can also be found running, antiquing, reading science fiction and spending time with his family. Here are a couple of examples of what Fortune 500 companies pay their board members. Of this total $135,000 was received as fees earned or paid in cash, $0 was received as non-stock incentive plan compensation, $0 was received as change in pension value and nonqualified deferred compensation earnings, $0 was received as options, $185,000 . John came to 3M in 1995 as a research chemist in the corporate R&D organization, working primarily on acrylic adhesives and tapes. Ms. The median compensation for members of private company boards of directors was $44,850 in 2021, according to a global study by Lodestone Global. One of our four strategic priorities at 3M is People & Culture because we know we will drive growth in our business and change in our communities by developing talent in an inclusive environment, Zoe says. from Grinnell College. He received his J.D., magna cum laude, from Northwestern University; and his B.A. Mr. 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. This would be in addition to the peer group benchmarks (what other CEOs make) that the company uses to determine CEO compensation. In November 2021, Karina assumed her current role as senior vice president and chief strategy officer. Amy Fontinelle has more than 15 years of experience covering personal finance, corporate finance and investing. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. Prior to 3M, Mark served as Chief Information Officer for Abbott Laboratories where he had global responsibilities for Abbotts technology landscape. 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. endobj In 1996, the National Association of Corporate Directors (NACD) issued the Blue Ribbon Commission Report on Director Professionalism, which had a great influence on board member compensation practices. 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 . Mr. Roman served as Chief Executive Officer of 3M Company from July 2018 to May 2019. 3M Expands Board of Directors February 14, 2022. 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. 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. Obviously, if there is a crisis or a strategic issuefor example, an acquisitionthe number of hours for a director can dramatically increase, Rogers says. 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. That's a 43% increase over 10 years. Kereere has over 20 years of experience in leading global . An audit committee is the part of a company's board of directors in charge financial reporting and disclosure. "Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? 3 0 obj 3M Investor Relations Department 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. That's actually a 5% increase from the year before . She is deeply involved in the companys operations, as well as the strategy development and overall execution of the companys successful acquisitions of LinkedIn and GitHub. 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. Ive been fortunate enough to see this company from many, many anglesand 3M is impressive no matter where you are in the world.. In connection with Ms. Kereere's election, the Board of Directors . 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 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. In January 2020, Environmental Responsibility was added to his role, including the Environment, Health and Safety organization. Approximately 90% of companies in the sample grant full-value stock awards exclusively (i.e., no stock options). Ashish serves as a member of the board of directors of Constellation and on the Deans advisory board for the College of Science and Engineering at the University of Minnesota. The estimated total pay for a Director at 3M is $346,118 per year. A non-executive director is a member of a company's board of directors who is not part of the executive team. He joined 3M in 1988 as a senior design engineer. Kevin Rhodes is Executive Vice President and Chief Legal Affairs Officer, overseeing legal, compliance, government affairs and global security matters for 3M. Outside of work, Monish enjoys reading, music, watching cricket, playing tennis or badminton and spending time with his family. "People achieve great things when they are embraced and valued; when they are connected, not isolated; and when their intelligence and imagination are unleashed". Prior to 3M, Peter served as chief executive officer of TireHub, a joint venture last mile distributor between Bridgestone and Goodyear. %PDF-1.6 % The more qualifications you can bring to the table, the better. AP6D. 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. Our household income is $240k and have $400k for down payment after selling all stocks. In connection with Ms. Chow and Mr. Pizarro's election, the Board of Directors increased its size from 11 to 13 members. 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. That year's top payer was Goldman Sachs Group Inc., which paid its directors an average of $599,279. Dr. Moyo was Chief Executive of Officer of Mildstorm LLC, a financial and economics firm, from 2015 to 2021. Hornbaker also recommends becoming educated on the fundamentals of governance and directorship through a program such as the National Association of Corporate Directors Director Professionalism program. Eric joined 3M in 1997, and held several leadership positions in the Finance organization, primarily in Health Care and Electronics. 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. 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. For online networking, Mark Rogers, CEO of BoardProspects.com, recommends his site, a board-recruitment network akin to LinkedIn. Get a free, personalized salary estimate based on today's job market. Throughout his career he has led large technology transformations including SAP implementations, digital initiatives and cybersecurity. Jeff has lived and worked internationally for 3M, and always with a great passion on exceeding customer expectations. 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. Retired Chairman of the Board and Chief Executive Officer, United Parcel Service, Inc., a provider of specialized transportation and logistics services. The Energy sector provides the highest median cash retainer for board service ($86,250) and Technology the lowest ($60,000). As vice president of operational transformation, he led the companys transformation initiatives driving operating rigor and lean management across the company. You can sign up for additional alert options at any time. 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. A. ", Boston Globe. He is a member of the Marketing Leadership Council and serves on several non-profit and community boards. My new VP is in the company less than 6m and in the position 3m. Private company board compensation programs have two common cash components: An annual retainer (the amount paid to each eligible director on an annual or quarterly basis for board service) is offered by 71% of private companies surveyed. Really nervous. The estimated additional pay is $169,271 per year. The report recommended that companies start compensating board directors with cash and equity. As a member of Board of Directors at 3M CO, Muhtar Kent made $340,917 in total compensation. hb```e``3,00```T~s@@(` 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. 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. 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. I wanted to make sure that the company was really serious about doing this work and that this was something I could see myself getting behind to make a difference because I have a bias for action. After submitting your request, you will receive an activation email to the requested email address. What Is the Salary of the Federal Reserve Chair? However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. How can I negotiate if they say the offer is off, Planning to bid on a house - 1.3M, with a base salary of 210K - in Seattle.. Worth it? c/o Abbott Corporate Secretary. 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.
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