3 0 obj
", Veritas. In January 2020, Environmental Responsibility was added to his role, including the Environment, Health and Safety organization. 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. The offers that appear in this table are from partnerships from which Investopedia receives compensation. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Mike is most proud of seeing the success of coworkers and people he has mentored during his time at the company. You will compete for board positions with people who have been extremely successful at a young age. 123 0 obj
<>stream
Mike became chairman of the board in May 2019 and chief executive officer in July 2018. Its about supporting constant iteration, until a point you make yourself obsolete.. I am starting to look elsewhere but I have great WFH life now. In his free time, Kevin enjoys travel, outdoor activities including fishing, hiking and gardening, and spending time with his family. 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. 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. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. The average mix across the entire sample is 43% cash and 57% equity. The Company assumes no obligation to update or revise any forward-looking statements. Before that, he served as president and chief operating officer of Dow and also previously served as chief operating officer for the Materials Science division of DowDuPont. In his spare time, he dedicates himself to being a loving husband and father and growing his family. From January 2006 through December 2006, Mr. Kent served as President of Coca-Cola International. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. 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. Outside of work, Karina is an experience seeker, avid traveler and food lover who enjoys dancing and yoga. 102 0 obj
<>
endobj
Zoe joined 3M in 1998, and has held roles of increasing responsibility in human resources across the companys businesses and geographic areas. You can sometimes learn what companies seek in their board members by reading the companys annual proxy statement. Erics last role was Group President of Enterprise Operations, where he led global Manufacturing and Supply Chain for 3M, driving end-to-end optimization. She joined 3M in 2008 as a marketing and public affairs manager for 3M Mexico, and has held roles of increasing responsibility in the United States, Asia and Latin America. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. She has led global organizations through major transformations with decades of strategic and operational experience serving the business marketplace, including roles as president, AT&T National Business and president, and AT&T Integrator Solutions. Jeff has lived and worked internationally for 3M, and always with a great passion on exceeding customer expectations. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. 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. Your strategy to get noticed and be considered for board membership should be similar to the strategy it takes to secure any high-level position. ", Reuters. 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. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. @,s30_j0 \
She is married with two teenage children, and enjoys hiking, baking, and exploring the world with her family. Mr. Roman is on the board of the following organizations in addition to 3M: Abbott Laboratories, University of Minnesota Foundation Board of Trustees. The compensation analysis excludes any temporary reductions to director compensation implemented due to the pandemic. John came to 3M in 1995 as a research chemist in the corporate R&D organization, working primarily on acrylic adhesives and tapes. Before joining the Edison International companies, Mr. Pizarro was a senior engagement manager with McKinsey & Company. 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. 3M shareholders today elected 11 directors for one-year terms that expire at the company's 2021 Annual Meeting: Thomas "Tony" K. Brown, retired group vice president, Global Purchasing, Ford Motor Company Pamela J. Craig, retired chief financial officer, Accenture plc David B. Dillon, retired chairman of the board and CEO, The Kroger Co. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. 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. 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. Michael Ferrante and Connor Damon are consultants at FW Cook. Ms. 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 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 CEO, annually reviews and approves the compensation for the other senior executives, The 3M board of directors is mostly composed of former CEOs. 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. He enjoys pushing himself mentally and physically in a broad range of athletics. Chairman of the Board and Chief Executive Officer of 3M Company. The information shown here is a reporting of information included in the company's proxy statement. As a CTO, Ashish led the global 3M team of over 8,000 scientists and engineers. from Grinnell College. The new 2022 third edition of the survey contains over 1,200 responses, an increase of about 300 participants from the prior full version of the . 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. 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. Mr. 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. 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. 3M is advancing diversity, equity and inclusion with a pledge to double its representation of underrepresented groups, along with new initiatives to strengthen STEM education. 224-1W-02
He joined 3M in 1988 as a senior design engineer. This compensation may impact how and where listings appear. Only outside directors get compensation specifically for serving on the board. 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. Dr. Moyo served as Global Economist & Capital Markets at Goldman Sachs from 2001 to 2008. 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). 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. Anne Chow's career in the technology and business sectors spans over three decades. Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. Possessing a wealth of experience in manufacturing and supply chain operations, Peter previously held senior-level executive positions at Mattel, Starbucks and ICI Paints North America. This report is not for commercial use. 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. Eric joined 3M in 1997, and held several leadership positions in the Finance organization, primarily in Health Care and Electronics. Sales Compensation Trends Revealed in New Survey. This would be in addition to the peer group benchmarks (what other CEOs make) that the company uses to determine CEO compensation. 0
Throughout his career Jeff has held leadership roles spanning all four of 3Ms business groups, including positions in the companys health care and industrial businesses, and most recently as leader of the automotive and aerospace business. Director Compensation Practices offers a comprehensive set of benchmarking data and analysis needed to inform the board pay design process. It operates through the following segments: Safety and Industrial,. 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. The report recommended that companies start compensating board directors with cash and equity. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. She is co-principal of Versaca Investments, a family office focused on growth investing globally she co-founded in 2021. You can sign up for additional alert options at any time. He previously served as chief operating officer, led 3Ms largest business group and was chief strategist. Not surprisingly, the most lucrative seats go to directors at S&P 500 companies. To effectively drive growth, it is important to keep the customer at the center of everything we do. 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. 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. Leadership is about serving more than yourself, he says. About3M We believe that good corporate governance serves the long-term interests of stockholders, strengthens the Board and management, and further enhances the public trust 3M has earned from more than a century of operating with uncompromising integrity and doing business the right way. Ownership guidelines are typically enforced via a years-to-achieve rule (66% prevalence), a retention/holding requirement (11% prevalence), or a combination of the two (23% prevalence). 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 For online networking, Mark Rogers, CEO of BoardProspects.com, recommends his site, a board-recruitment network akin to LinkedIn. Most recently he served as CFO of GE Healthcare. Corporate boards are made up of highly successful executive outsiders. He joined 3M in 1987 as a health care sales representative. Director compensation structure remains consistent with prior years, with an average mix of 57% equity and 43% cash across the entire sample. Tel: (651) 737-6523
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. Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. 2 0 obj
Opening up lines of communication to a second- or even third-degree connection could lead to an excellent fit for the board position you seek. The Board is mainly comprised of outside, independent directors. It regularly meets in executive session, without the presence of Rogers' management. Board membership is less stressful and time-consuming than earlier positions board members have taken on, while still offering an impressive income. As a former Big, Mike is a long-time supporter of Big Brothers Big Sisters of America. Over the years, he has held various positions of increasing responsibility in corporate research and division labs. If you experience any issues with this process, please contact us for further assistance. 10 S. Dearborn St., 54th Floor. Additional pay could include bonus, stock, commission, profit sharing or tips. With more than 25 years of extensive experience leading the financial operations of industrial and healthcare businesses, Monish Patolawala, 3Ms executive vice president and chief financial and transformation officer, understands what it takes to drive profitable growth in an ever-changing environment. 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. 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. Eric serves on the boards of the U.S. Chamber of Commerce, St. Paul & Minnesota Foundation, and National Association of Manufacturing. As a member of Board of Directors at 3M CO , Vance D. Coffman made $107,459 in total compensation. 224-1W-02
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.