Ms. Lynch has helmed CVS Health since February 2021 and leads more than 300,000 employees, according to a . He returned to the Visual Systems Division before another posting in Italy as a laboratory and project manager. Dont have any other debt - however this expensive mortgage would take half my monthly salary (post tax).. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. 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). It begins with actively listening and then relentlessly working to deliver outcomes to solve customer problems, says Monish. He was appointed 3Ms chief technology officer and senior vice president of research and development in July 2017. The average mix across the entire sample is 43% cash and 57% equity. Ms. The estimated additional pay is $170,007 per year. All proxy statements are public filings made available to the general public by the SEC. From December 2006 through June 2008, Mr. Kent served as President and Chief Operating Officer of The Coca-Cola Company. Once you find a good prospect, you must be nominated by the nomination committee, then approved by shareholder election. Director compensation structure remains consistent with prior years, with an average mix of 57% equity and 43% cash across the entire sample. 3M Company Board of Directors Compensation Committee Charter (As Amended February 10, 2003) A. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. 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. She previously held executive leadership roles in global merchant sales and acquiring at Visa from 2016 to 2021. Karina led strategic planning for the companys international operations and served as managing director for 3M Indonesia. My new VP is in the company less than 6m and in the position 3m. AP6D. 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 executive officer of Edison International, have been elected to 3M's Board of Directors, effective Feb. 9, 2023. 0
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. This employer has claimed their Employer Profile and is engaged in the Glassdoor community. As an outside director, you could bring a fresh perspective to a corporate board and leverage your years of experience as an executive into a satisfying new project that still leaves you with enough time to do your day job or enjoy your retirement. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. "People achieve great things when they are embraced and valued; when they are connected, not isolated; and when their intelligence and imagination are unleashed". They also recommended doing away with pension and . As a member of Board of Directors at 3M CO , Vance D. Coffman made $107,459 in total compensation. 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. 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. Kevin and his wife Melinda have three adult children. So what does he do when hes not in the office? She currently serves as Adjunct Professor of Executive Education at the Kellogg School of Management, Northwestern University, and 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. Ashish is a trained Chemical Engineer, with a bachelors degree from Indian Institute of Technology, Delhi, and a Ph.D. from the University of Minnesota. Mike and his family enjoy a variety of physical fitness and outdoor activities. The Company assumes no obligation to update or revise any forward-looking statements. "We are very pleased to further strengthen 3M's board with two highly accomplished, world-class leaders," said 3M chairman and CEO Mike Roman. The Boston Globe reports that the average time commitment to serve on a board is fewer than five hours per week. As vice president of operational transformation, he led the companys transformation initiatives driving operating rigor and lean management across the company. She is married with two teenage children, and enjoys hiking, baking, and exploring the world with her family. I am starting to look elsewhere but I have great WFH life now. 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. He served in that role until 2012, when he became global business director for 3M's Industrial Adhesives and Tapes Division. As executive vice president and chief human resources officer, Zoe Dickson leads 3Ms transformative agenda for people and culture. 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. Throughout her life and career, Karina has lived and worked around the world. Michael Ferrante and Connor Damon are consultants at FW Cook. x\s6(uj L3#inj'Flt?MR4(X,v _u]o_m-W?wpys1_#i5HJ 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.. I am extremely thankful for the company and leaders I work for at 3M, Eric says. Throughout his 20-year 3M career, Kevin has led legal teams in areas of increasing responsibility. The median compensation for members of private company boards of directors was $44,850 in 2021, according to a global study by Lodestone Global. Can we afford $1.3M home? 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. 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 . When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. 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, He served in that role until 2012, when he became global business director for 3Ms Industrial Adhesives and Tapes Division. 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). In November 2021, Karina assumed her current role as senior vice president and chief strategy officer. 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. Tel: (651) 737-6523
Kevin Rhodes is Executive Vice President and Chief Legal Affairs Officer, overseeing legal, compliance, government affairs and global security matters for 3M. Mr. Pizarro served as president of SCE from 2014 to 2016. Its that excitement, mixed with his incredible passion and leadership, that has led to some of 3Ms biggest equitable actions in the past year. 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. Get a free, personalized salary estimate based on today's job market. Related Searches:All Director Salaries|All 3M Salaries. Mr. Roman also has held numerous leadership positions in Asia Pacific and Europe, across multiple businesses. Ms. Chow is on the board of the following public company in addition to 3M: FranklinCovey. 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. 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. He previously worked at St. Jude Medical for more than 15 years, holding multiple technology roles of increasing responsibility. Could you fill that gap? Bldg. Incorporation is the legal process by which a business entity is formed. endobj
About3M That's a 43% increase over 10 years. 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. The median annual retainer is $30,000, up from $28,000 in 2020. The Board of Directors (the "Board") of 3M Company ("3M" or the "Company") has adopted these guidelines, which in conjunction with the Certificate of Incorporation, Bylaws, and Board . c/o Abbott Corporate Secretary. 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. The median board retainer for large-cap companies increased slightly by $2,500 to $92,500 and remained flat at mid-cap and small-cap companies (at $75,000 and $60,000, respectively). This would be in addition to the peer group benchmarks (what other CEOs make) that the company uses to determine CEO compensation. Dr. Moyo was Chief Executive of Officer of Mildstorm LLC, a financial and economics firm, from 2015 to 2021. 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. 3M provides a match up to a certain percent, 3M is a global science company that never stops inventing. In 2008, he returned to the U.S. to become vice president and general manager of Aearo Technologies LLC, which 3M acquired that year. Retired, Chief Executive Officer of AT&T Business, an organization that provided a full suite of business services across wireless, networking, cybersecurity, and advanced solutions, serving nearly 3 million business customers in more than 200 countries and territories around the world. Abbott Laboratories, Dept 364, Bldg. The company is strengthening environmental stewardship with a $1 billion commitment to achieve carbon neutrality, reduce water use, improve water quality and reduce its use of plastics.