The median decrease in director compensation was 50% at S&P 500 companies and 40% at Russell 3000 companies. 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. Previously, Mr. Pizarro was president of Edison Mission Energy, an indirect subsidiary of Edison International, until the sale of its principal assets in 2014. That's a 43% increase over 10 years. Country Governance and Services comprises Global Country Leadership, the Workplace Group, Global Service Centers, and 3Ms Emerging Markets. Incorporation is the legal process by which a business entity is formed. I took some time to think about it because the emotions of the time were raw and real, Garfield said. 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. 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. A corporation is a separate legal entity from its owners. Mr. Pizarro served as president of SCE from 2014 to 2016. AP6D. Sales Compensation Trends Revealed in New Survey. @,s30_j0 \ You will compete for board positions with people who have been extremely successful at a young age. He serves on the boards of Special Olympics International, Cambridge China Development Trust, Council on Foreign Relations, and Emory University. He was most recently head of 3Ms Health Care Business Group, and prior to that led the companys Consumer Business Group. 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. Averages based on self-reported salaries. So what does he do when hes not in the office? 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. 3M Investor Relations Department Jeff has lived and worked internationally for 3M, and always with a great passion on exceeding customer expectations. This report is not for commercial use. 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. 2 0 obj Approximately 80% of the sample uses a retainer-only structure (no board meeting fees), and an additional 6% only awards a meeting fee for abnormally high activity above a pre-set threshold. An audit committee is the part of a company's board of directors in charge financial reporting and disclosure. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. 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. The brands listed above are trademarks of 3M. Mr. Roman served as Chief Executive Officer of 3M Company from July 2018 to May 2019. 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. Anne Chow's career in the technology and business sectors spans over three decades. Prior to 3M, Peter served as chief executive officer of TireHub, a joint venture last mile distributor between Bridgestone and Goodyear. Mr. Roman also has held numerous leadership positions in Asia Pacific and Europe, across multiple businesses. Dr. Moyo served as Global Economist & Capital Markets at Goldman Sachs from 2001 to 2008. St. Paul, MN 55144-1000 Eric Hammes is 3Ms executive vice president, chief country governance and services officer. <>/Metadata 125 0 R/ViewerPreferences 126 0 R>> You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. Board members in general, by the way, participated in an average of 7.9 meetings, in person or remotely, during the year. Get a free, personalized salary estimate based on today's job market. 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. I have been trying to get a review ever since and no one will say what is going on. In addition to his role at 3M, he is on the Presidents Council of Advisors on Science and Technology (PCAST), the Board of Trustees at the Science Museum of Minnesota and is an emeritus trustee for Hamline University. Three years later, he was tapped to lead 3M's corporate research lab. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. That's actually a 5% increase from the year before . 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. For its 2021 fiscal year, 3M CO, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Not surprisingly, the most lucrative seats go to directors at S&P 500 companies. I feel blessed and give everything I have to leave 3M in a better place, every day.. 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. 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 He most recently was Senior Vice President and Deputy General Counsel, advising senior management and the Board of Directors on legal issues. Hood joined Microsoft in 2002, and through her tenure with the company has advanced momentum in cloud and helped digitally transform the company. %PDF-1.7 Mr. Roman is on the board of the following organizations in addition to 3M: Abbott Laboratories, University of Minnesota Foundation Board of Trustees. 118 0 obj <>/Filter/FlateDecode/ID[<7EC0A6CD8E76974B8000B812351B4C61><50CA0BECC4E50243A657300F9E70214C>]/Index[102 22]/Info 101 0 R/Length 82/Prev 76119/Root 103 0 R/Size 124/Type/XRef/W[1 2 1]>>stream In his spare time, he dedicates himself to being a loving husband and father and growing his family. Can we afford $1.3M home? Approximately 90% of companies in the sample grant full-value stock awards exclusively (i.e., no stock options). As a member of Board of Directors at 3M CO , Vance D. Coffman made $107,459 in total compensation. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. For the past eight years, Ms. % 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. The information on this website, including any documents posted herein, contains a significant amount of information about 3M. "3M is a globally diverse company in so many dimensions," Ashish says. The estimated total pay for a Director at 3M is $346,118 per year. From 1997 to 1999 he served in leadership positions at United Technologies Corporation, including its Vice President, Supply Management. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Eric joined 3M in 1997, and held several leadership positions in the Finance organization, primarily in Health Care and Electronics. Its that excitement, mixed with his incredible passion and leadership, that has led to some of 3Ms biggest equitable actions in the past year. 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%). 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. Prior to that, Mr. Roman served as Executive Vice President and Chief Operating Officer of 3M Company from July 2017 to June 2018, Executive Vice President of 3Ms Industrial Business from May 2014 to June 2017, and Senior Vice President of Business Development from May 2013 to May 2014, with responsibility for 3Ms strategic roadmap. Outside of work he enjoys reading, following college sports and spending time with his family. 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. He returned to the Visual Systems Division before another posting in Italy as a laboratory and project manager. "Definitive Proxy Statement, Apple 2021. Why Investors Should Look at the Proxy Statement, Disney Names New Chair, Eases Park Rules Amid Proxy Battle. ", Veritas. 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. He previously served as chief operating officer, led 3Ms largest business group and was chief strategist. 3M Investor Relations Department Mr. Pizarro served as president of SCE from 2014 to 2016. 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. She has been in the accounting, audit, and tax profession for more than 13 years, working with individuals and a variety of companies in the health care, banking, and accounting industries. The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. Retired Chairman of the Board and Chief Executive Officer, United Parcel Service, Inc. Executive Vice President and Chief Financial Officer, Microsoft Corporation, Retired Chairman of the Board and Chief Executive Officer, The Coca-Cola Company. Bldg. Zoe joined 3M in 1998, and has held roles of increasing responsibility in human resources across the companys businesses and geographic areas. In early 2014, Ashish began leading one of 3Ms biggest businesses the Personal Safety Division and later that same year he was named the chief technology officer (CTO) and senior vice president of research and development of 3M.