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. News & Views 2/17/2022 3M Adds To Board Of Directors. Compensation for board members can easily reach $300,000 to $500,000 a year, according to Veritas, an executive compensation consulting service. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. 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. He served as Coca-Colas Chief Executive Officer from July 2008 to April 2017. The Company assumes no obligation to update or revise any forward-looking statements. 3M CO annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Head of Global Business Solutions, Fiserv, Inc. He joined 3M in 1987 as a health care sales representative. 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. 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. 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. 3M Company Board of Directors Compensation Committee Charter (As Affirmed February 5, 2019) A. 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 . 3M News Center - Press Releases The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. He previously had led 3Ms Digital Transformation, one of the companys three value creation levers. 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 . If you experience any issues with this process, please contact us for further assistance. Mr. Dillon is on the board of the following public company in addition to 3M: Union Pacific Corporation. Executive search firms can streamline the process since theyll know about available positions. How Much Board of Directors Members Get Paid and What They Do She previously held executive leadership roles in global merchant sales and acquiring at Visa from 2016 to 2021. Really nervous. 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). Inspired, passionate leaders have the power to transform, Jeff says. He retired from Ford on August 1, 2013. %PDF-1.6 % He was most recently head of 3Ms Health Care Business Group, and prior to that led the companys Consumer Business Group. He previously served as chief operating officer, led 3Ms largest business group and was chief strategist. Mr. Kent held the position of Chairman of the Board from April 23, 2009 to April 30, 2019. endobj Hood joined Microsoft in 2002, and through her tenure with the company has advanced momentum in cloud and helped digitally transform the company. Mr. Pizarro served as president of SCE from 2014 to 2016. John and his team also oversee 3Ms environmental responsibility efforts, with a focus on advancing environmental stewardship and accelerating 3Ms environmental commitments. 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. (2005-2013) (alternate member of the Board of Directors, (1999 to 2005)) Previous experience. Phone: 651-737-6501 or 800-3M-HELPS 3M Investor Relations Department Bldg. %PDF-1.7 Michael Ferrante and Connor Damon are consultants at FW Cook. From December 2006 through June 2008, Mr. Kent served as President and Chief Operating Officer of The Coca-Cola Company. A proxy statement is a document the SEC requires companies to provide shareholders that includes information needed to make decisions at shareholder meetings. The Energy sector provides the highest median cash retainer for board service ($86,250) and Technology the lowest ($60,000). "Looking at Board of Directors Compensation: What Do Board Members Do to Earn Large Salaries? Throughout his 20-year 3M career, Kevin has led legal teams in areas of increasing responsibility. U.S. company directors compensated more than ever, but now risk backlash, Few Hours, Soaring Pay for Corporate Board Members. Birmingham Water Works Board files lawsuit against chemical He previously led the construction and home improvement business, and the companys corporate marketing and sales organization. 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. Page also serves as non-executive Chairman of the Board of Corteva Agriscience. We also reference original research from other reputable publishers where appropriate. 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 . Non-executive board chairs are almost always provided additional compensation for the role, with the median ranging from $72,500 at small-cap companies to $175,000 at large-cap companies. All proxy statements are public filings made available to the general public by the SEC. Mark holds a bachelors degree in electrical engineering from Purdue University, and an M.B.A. from Indiana University. Ms. Chow is on the board of the following public company in addition to 3M: FranklinCovey. Ms. Craig served as Accenture's CFO from 2006 through 2013, following her many other leadership roles in line management, consulting and operations at Accenture during her 34 years with the company. 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, Kevin and his wife Melinda have three adult children. Thorough reviews have been conducted to assure this data accurately reflects disclosures. "Definitive Proxy Statement, Apple 2021. 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 . 3M CO Board Member Muhtar Kent | Salary.com The median compensation for members of private company boards of directors was $44,850 in 2021, according to a global study by Lodestone Global. 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). Serving on a corporate board of directors can be a lucrative side gig or second career for high-profile executives and recent retirees. In 2008, he returned to the U.S. to become vice president and general manager of Aearo Technologies LLC, which 3M acquired that year. Another example would be compensation meetings to discuss compensation plans and awards.. I have been trying to get a review ever since and no one will say what is going on. Mr. Dillon served as a Director of the Kroger Co. from 1995 through 2014. Companies in all size segments continue to provide more than half of total pay in equity, on average, with equity weighting generally increasing with company size. From January 2006 through December 2006, Mr. Kent served as President of Coca-Cola International. He can also be found running, antiquing, reading science fiction 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". The 2022 Private Company Board Compensation Survey Leadership is facilitating and embracing evolution, and accompanying the paths for change, Karina says. Inside directors, who are mostly C-suite level executives, don't receive additional compensation. As a CTO, Ashish led the global 3M team of over 8,000 scientists and engineers. 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. ", Reuters. 224-1W-02 He oversaw annual R&D investments of nearly $2 billion, while building 3Ms digital capabilities and bringing the companys technology expertise even closer to customers around the world. Ms. This post is based on their FW Cook memorandum. USW Proposal Spotlights Excessive 3M CEO Compensation Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Mike and his family enjoy a variety of physical fitness and outdoor activities. Jeff has lived and worked internationally for 3M, and always with a great passion on exceeding customer expectations. Prior to her current role, Ms. Kereere served as Fiservs Chief Growth Officer, leading strategy and business development to enhance client value and accelerate growth. Only outside directors get compensation specifically for serving on the board. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. That's actually a 5% increase from the year before. Personal health and fitness are his passion. At 3M, we promise to treat your data with respect and will not share your information with any third party. The compensation analysis excludes any temporary reductions to director compensation implemented due to the pandemic. In this role, he leverages his many years of experience as both a technology and business leader. He served in that role until 2012, when he became global business director for 3Ms Industrial Adhesives and Tapes Division. Mr. Eskew was appointed Executive Vice President in 1999 and Vice Chairman in 2000 before becoming Chairman of the Board and Chief Executive Officer of UPS in January 2002. For him, that comes down to business/market analysis and team success. oYgd=??/_C|72KFSI. 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 . By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. 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. "3M is a globally diverse company in so many dimensions," Ashish says. 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%). For example, some of the qualities Wal-Mart says its looking for in board members include:"outstanding achievement in their professional careers; broad experience and wisdom; personal and professional integrity; ability to make independent, analytical inquiries; experience with and understanding of the business environment; willingness and ability to devote adequate time to Board duties.". The report recommended that companies start compensating board directors with cash and equity. Mr. Corporate Governance - Board of Directors - Mastercard 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. You will compete for board positions with people who have been extremely successful at a young age. 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. Deloitte. stream Bldg. 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. Throughout Mikes career, he has lived and led businesses around the world, including the United States, Europe and Asia. Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. 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. 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. 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 . Prior to 3M, she served as a business leader and consultant for various companies in Mexico and Europe. During his leadership, this business was transformed through a thorough portfolio prioritization and diversification in fast growth segments, becoming a strong contributor to the company results. Abbott Laboratories, Dept 364, Bldg. 3Ms culture brings together passionate people with purpose and strategy to solve some of the worlds toughest challenges.. 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. To find out what any publicly held company pays its board members, read the companys annual proxystatement, available from its corporate website or the Securities and Exchange Commission website. Rogers adds, Board members are the representatives of the shareholders, and it is their fiduciary duty to oversee the affairs of the corporation, including overall performance and fiscal strength, and to serve as a consultant for managementparticularly with respect to the strategic and operational directives of the company.. Director Compensation - The Conference Board Changes were relatively stable across industries; we observe that Financial Services, Industrials, and Technology companies had no increases in median total compensation, while Energy and Retail companies had increases of 3% and 2%, respectively. Once you find a good prospect, you must be nominated by the nomination committee, then approved by shareholder election.
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