3m board of directors compensation

This report is not for commercial use. hbbd``b`$fH0@= , VDtbc a`$2012| VUL^07d=xy2 *'..j(( Hs00 Outside of work, Karina is an experience seeker, avid traveler and food lover who enjoys dancing and yoga. Mike later became general manager of 3M Spain. Retired Chairman and Chief Executive Officer of Cargill. 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. In his spare time, he dedicates himself to being a loving husband and father and growing his family. I believe great leaders are great listeners who carry themselves with humility, authenticity, accessibility, transparency and integrity.. investorrelations@3M.com. Learn how this feature works. I am extremely thankful for the company and leaders I work for at 3M, Eric says. Abbott Laboratories, Dept 364, Bldg. In his 35-year career with the company, he has played a key role in its transformation, from lower-margin, commodity businesses to one more deeply focused on higher-growth consumer demand-driven markets that value innovation. 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. 6 yrs at my current company. Retired Chairman of the Board and Chief Executive Officer, The Kroger Co. 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 Dow's Board of Directors exemplifies good governance with solid, diverse experience and credentials. Mr. Pizarro is a member of Edison International's Board of Directors. Hood has acted as a strategic partner to Microsoft CEO Satya Nadella, propelling long-term financial growth, championing culture and driving corporate initiatives including Microsofts climate and affordable housing commitments, that have bolstered the companys broader ecosystem. endobj For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Throughout his career he has led large technology transformations including SAP implementations, digital initiatives and cybersecurity. Kevin is a registered patent attorney and has served as President of the Intellectual Property Owners Association and the Association of Corporate Patent Counsel, as well as Chair of the Steering Committee of the Coalition for 21st Century Patent Reform. 3M CO income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Leaders serve by creating an inclusive environment which values diverse perspectives, teamwork and innovation. 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. Leadership is facilitating and embracing evolution, and accompanying the paths for change, Karina says. He began his professional career as a senior research engineer in 3M laboratories in St. Paul. Prior to GE, Monish gained experience at A.F. Head of Global Business Solutions, Fiserv, Inc., a leading fintech and payments company. Throughout his 20-year 3M career, Kevin has led legal teams in areas of increasing responsibility. The median decrease in director compensation was 50% at S&P 500 companies and 40% at Russell 3000 companies. You must click the activation link in order to complete your subscription. 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. In his free time, he enjoys spending time with his wife and three kids, as well as a variety of outdoor activities including hiking, biking and fishing. Download required. 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. As a member of Board of Directors at 3M CO , Vance D. Coffman made $107,459 in total compensation. 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. This post is based on their FW Cook memorandum. 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. Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? John and his team also oversee 3Ms environmental responsibility efforts, with a focus on advancing environmental stewardship and accelerating 3Ms environmental commitments. 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. Director Compensation Practices offers a comprehensive set of benchmarking data and analysis needed to inform the board pay design process. Amy Fontinelle has more than 15 years of experience covering personal finance, corporate finance and investing. Kevin Rhodes is Executive Vice President and Chief Legal Affairs Officer, overseeing legal, compliance, government affairs and global security matters for 3M. Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. Once you find a good prospect, you must be nominated by the nomination committee, then approved by shareholder election. You will compete for board positions with people who have been extremely successful at a young age. Our household income is $240k and have $400k for down payment after selling all stocks. Ms. Chow is on the board of the following public company in addition to 3M: FranklinCovey. Ms. Craig is on the boards of the following public companies in addition to 3M: Corning, Inc.; Merck & Company; Progressive (Insurance) Corporation. Mike is most proud of seeing the success of coworkers and people he has mentored during his time at the company. "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.". 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. Mr. Roman is on the board of the following organizations in addition to 3M: Abbott Laboratories, University of Minnesota Foundation Board of Trustees. A. Get a free, personalized salary estimate based on today's job market. He served as Coca-Colas Chief Executive Officer from July 2008 to April 2017. Sleep, Mike jokes, though he will say more seriously that he tries to focus his energies where they will do the most good. 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. 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. In 2008, he returned to the U.S. to become vice president and general manager of Aearo Technologies LLC, which 3M acquired that year. Mark Murphy has more than two decades of experience developing and leading global technology organizations across multiple industries including healthcare, medical device, retail and financial services. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. The median compensation for members of private company boards of directors was $44,850 in 2021, according to a global study by Lodestone Global. For its 2021 fiscal year, 3M CO, listed the following board members on its annual proxy statement to the SEC. Country Governance and Services comprises Global Country Leadership, the Workplace Group, Global Service Centers, and 3Ms Emerging Markets. Look for a gap in expertise that might be left when a current board member steps down. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Lead directors are also almost always provided with additional compensation, ranging from approximately $20,000 to $35,000 at the median across all size and sector groups. It operates through the following segments: Safety and Industrial,. In his current position, John remains focused on driving change, challenging the status quo and helping develop the 3M leaders of tomorrow. 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. Retired Chairman of the Board and Chief Executive Officer, United Parcel Service, Inc., a provider of specialized transportation and logistics services. 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. They also recommended doing away with pension and . Outside directors who hold certain board positions receive an additional annual retainer:$35,000 for the lead independent director; $25,000 for audit committee members and for compensation, nominating, and governance committee members; and $20,000 for strategic planning and finance committee chairs and for technology and eCommerce committee chairs. 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 . Before joining the Edison International companies, Mr. Pizarro was a senior engagement manager with McKinsey & Company. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Really nervous. He serves on the boards of Special Olympics International, Cambridge China Development Trust, Council on Foreign Relations, and Emory University. Ms. Kereere is also a longtime champion for equity and inclusion in business and society. Dont have any other debt - however this expensive mortgage would take half my monthly salary (post tax).. They range from recent retirees and people nearing retirement to younger people who've experienced early successes in business.