Mr. Pizarro is on the board of the following public company in addition to 3M: Edison International. The more qualifications you can bring to the table, the better. 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. Ms. Chow also has a long track record of community leadership involvement in strategic board and advisory work focused on driving success at the intersection of people, culture, and technology. investorrelations@3M.com. As a former Big, Mike is a long-time supporter of Big Brothers Big Sisters of America. 3M Investor Relations Department 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, "I believe that building confidence and removing the fear of failure are key components of leadership," says Peter. In January 2020, Environmental Responsibility was added to his role, including the Environment, Health and Safety organization. The Boston Globe reports that the average time commitment to serve on a board is fewer than five hours per week. 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. 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. On Fishbowl, you can share insights and advice anonymously with 3M employees and get real answers from people on the inside. Throughout his 20-year 3M career, Kevin has led legal teams in areas of increasing responsibility. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. 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. Mike joined the company in 1992, shortly after earning a Ph.D. in chemistry from M.I.T. 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. Mike became chairman of the board in May 2019 and chief executive officer in July 2018. As vice president of operational transformation, he led the companys transformation initiatives driving operating rigor and lean management across the company. This employer has claimed their Employer Profile and is engaged in the Glassdoor community. Board membership is less stressful and time-consuming than earlier positions board members have taken on, while still offering an impressive income. Prior to 3M, Peter served as chief executive officer of TireHub, a joint venture last mile distributor between Bridgestone and Goodyear. According to the company's 2021 proxystatement, Walmarts compensation program for outside directors offers base compensation of a $175,000 annual stock grant and a $100,000 annual retainer. Eric Hammes is 3Ms executive vice president, chief country governance and services officer. Abbott Laboratories, Dept 364, Bldg. x\s6(uj L3#inj'Flt?MR4(X,v _u]o_m-W?wpys1_#i5HJ He previously led the construction and home improvement business, and the companys corporate marketing and sales organization. At 3M, we promise to treat your data with respect and will not share your information with any third party. You will compete for board positions with people who have been extremely successful at a young age. 3M CO annual reports of executive compensation and pay are most commonly found in the Def 14a documents. She also has a long track record of community leadership involvement in strategic board and advisory work focused on driving success at the intersection of people, culture, and technology. The report recommended that companies start compensating board directors with cash and equity. The average salary for a Director is $129,368 per year in United States, which is 62% lower than the average 3M salary of $346,118 per year for this job. endstream endobj 103 0 obj <. He most recently was Senior Vice President and Deputy General Counsel, advising senior management and the Board of Directors on legal issues. Chairman and Chief Executive Officer of Dow, Inc., a leading global materials science company. % Download required. 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. By learning about the backgrounds of existing board members, you can extrapolate what the company is probably looking for in new ones. Most recently he served as CFO of GE Healthcare. 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. 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. A leadership position had been created to advance more of the companys equity initiatives and they wanted to know if he would like to be considered. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. 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. %%EOF Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Complement your online networking with face-to-face connections at events, conferences, and social gatherings, he says. Learn how we're working to improve lives and make what's next at 3M.com/newsor on Twitter at@3Mor@3MNews. For details of these risks and uncertainties please see the documents 3M files with the Securities and Exchange Commission. Ms. Kereere is also a longtime champion for equity and inclusion in business and society. "2020 Proxy Statement," Page 12. Ms. During his assignment as the laboratory head in India, Ashish was responsible for establishing its first product development laboratory and capabilities. Walmart's current board members include Cesar Conde, 47, chair of NBCUniversal, and Marissa Mayer, 46, who is well-known for the high positions she achieved at Google and Yahoo. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. A decades-long career at 3M can span a diverse range of businesses, market segments and geographies, Mike says. As a member of Board of Directors at 3M CO , Thomas made $320,487 in total compensation. She is married with two teenage children, and enjoys hiking, baking, and exploring the world with her family. Creating an atmosphere that allows people to perform at their best, collaborate broadly and enrich their own perspective makes for powerful outcomes.. 224-1W-02 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.. The estimated base pay is $176,111 per year. Mr. Roman also has held numerous leadership positions in Asia Pacific and Europe, across multiple businesses. I have been trying to get a review ever since and no one will say what is going on. He began his professional career as a senior research engineer in 3M laboratories in St. Paul. As CEO, she was responsible for AT&T's Business Solutions organization that provided a full suite of business services across wireless, networking, cybersecurity, and advanced solutions, serving nearly 3million business customers in more than 200 countries and territories around the world. He can also be found running, antiquing, reading science fiction and spending time with his family. He joined 3M in 1988 as a senior design engineer. I have been an Office Manager 21 yrs. 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. Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. The Energy sector provides the highest median cash retainer for board service ($86,250) and Technology the lowest ($60,000). 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. <>/Metadata 125 0 R/ViewerPreferences 126 0 R>> In connection with Ms. Kereere's election, the Board of Directors . For its 2021 fiscal year, 3M CO, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Related Searches:All Director Salaries|All 3M Salaries. Small-cap companies tend to have the highest cash weighting (average of 47%) and large-cap companies tend to have the lowest (average of 37%). From December 2006 through June 2008, Mr. Kent served as President and Chief Operating Officer of The Coca-Cola Company. For example, audit committees have regular meetings before public filings, she says. For the past eight years, Ms. This would be in addition to the peer group benchmarks (what other CEOs make) that the company uses to determine CEO compensation. 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. Head of Global Business Solutions, Fiserv, Inc., a leading fintech and payments company. The estimated total pay for a Director at 3M is $346,118 per year. He was assigned to lead 3Ms $5.5B Electronics & Energy Business Group in July 2017. Effective April 1, 2019, Ashish was appointed to lead the newly created 3Ms Transportation and Electronics Business Group, with total revenues of approximately $10B. 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. The board chair receives an additional $200,000; the audit committee chair receives an additional $35,000; the compensation committee chair receives an additional $30,000, and the nominating committee chair receives an additional $25,000. 3M Investor Relations Department Thorough reviews have been conducted to assure this data accurately reflects disclosures. Approximately 85% of companies have director ownership guidelines, while stock retention requirements are less common, present at 42% of companies. 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 serves on the boards of Special Olympics International, Cambridge China Development Trust, Council on Foreign Relations, and Emory University. 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. He returned to the Visual Systems Division before another posting in Italy as a laboratory and project manager. Here are a couple of examples of what Fortune 500 companies pay their board members. The brands listed above are trademarks of 3M. Bldg. Page also serves as non-executive Chairman of the Board of Corteva Agriscience. Incorporation is the legal process by which a business entity is formed. @,s30_j0 \ 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. He was a senior research chemist in the Visual Systems Division before joining 3M Italy as a product development engineer. 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. By learning about the backgrounds of existing board members, you can extrapolate what they may be looking for in new ones. endstream endobj startxref Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. hbbd``b`$fH0@= , VDtbc a`$2012| The Birmingham Water Works Board (BWWB) is taking multiple chemical companies to federal court in South Carolina, accusing them of contaminating Birmingham's drinking water supply - which was . For nine straight years, 3M has been recognized by Ethisphere as one of the Worlds Most Ethical Companies. The estimated base pay is $176,306 per year. Executive Vice President and Chief Financial Officer of Microsoft Corporation, a global technology company. You must click the activation link in order to complete your subscription. "People from all backgrounds and experiences work together and create new and differentiated solutions to solve our customers' and their customers' problems -- across so many industries and geographies.". You can sign up for additional alert options at any time. This post is based on their FW Cook memorandum. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. 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). 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. After submitting your request, you will receive an activation email to the requested email address. The median decrease in director compensation was 50% at S&P 500 companies and 40% at Russell 3000 companies. John came to 3M in 1995 as a research chemist in the corporate R&D organization, working primarily on acrylic adhesives and tapes. 3M (NYSE: MMM) announced today that Anne H. Chow, retired chief executive officer of ATT 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. Before joining the Edison International companies, Mr. Pizarro was a senior engagement manager with McKinsey & Company. The estimated additional pay is $169,271 per year. from Grinnell College. Mr. Brown served in various leadership capacities in global purchasing since joining Ford in 1999. 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. Eric serves on the boards of the U.S. Chamber of Commerce, St. Paul & Minnesota Foundation, and National Association of Manufacturing. Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. Mr. 3M CO annual reports of executive compensation and pay are most commonly found in the Def 14a documents. 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 companys 96,000 employees are united by a common purpose: unlocking the value of people, science, and ideas to re-imagine what is possible. 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. investorrelations@3M.com. (2005-2013) (alternate member of the Board of Directors, (1999 to 2005)) Previous experience. St. Paul, MN 55144-1000 I am starting to look elsewhere but I have great WFH life now. Outside of work he enjoys reading, following college sports and spending time with his family. A. You can sign up for additional alert options at any time. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. He was appointed 3Ms chief technology officer and senior vice president of research and development in July 2017. That's actually a 5% increase from the year before . I took some time to think about it because the emotions of the time were raw and real, Garfield said. The estimated additional pay is $170,007 per year. Its about creating an environment that unlocks the full potential of teams and individuals and, as a result, achieves even higher performance and more engaged employees.. She is co-principal of Versaca Investments, a family office focused on growth investing globally she co-founded in 2021. 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. Boards aren't entirely made up of retirees and people nearing the end of their careers. He retired from Ford on August 1, 2013. Under Mikes leadership, 3M has also helped lead the worlds response to COVID-19, which includes distributing more than 4 billion respirators to protect nurses, doctors and first responders. 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. For its 2021 fiscal year, 3M CO, listed the following board members on its annual proxy statement to the SEC. Ms. Kereere has over 20 years of experience leading global businesses around the world, including in Europe, Australia, Asia and North America. Dr. Moyo earned a bachelors degree in chemistry and MBA degree in Business Administration from American University, an M.P.A. 3 0 obj News & Views 2/17/2022 3M Adds To Board Of Directors.
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