FW Cooks 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. Its that excitement, mixed with his incredible passion and leadership, that has led to some of 3Ms biggest equitable actions in the past year. He is past-chair of the board of Big Brothers Big Sisters of America, past president of the Northern Star Council of the Boy Scouts of America and continues to serve on both boards as well as the board of Alight (formerly known as the American Refugee Committee). 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. 3M CO annual reports of executive compensation and pay are most commonly found in the Def 14a documents. You can sign up for additional alert options at any time. Mr. Dillon is on the board of the following public company in addition to 3M: Union Pacific Corporation. endobj
Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. You must click the activation link in order to complete your subscription. Head of Global Business Solutions, Fiserv, Inc., a leading fintech and payments company. 3 0 obj
Mike holds a masters degree in Electrical Engineering from the University of Southern California, and a bachelors degree from the University of Minnesota. St. Paul, MN 55144-1000
Prior to 3M, Monish spent 26 years at GE where he held a variety of roles of increasing responsibility across GEs businesses. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Inside directors, who are mostly C-suite level executives, don't receive additional compensation. She is deeply involved in the companys operations, as well as the strategy development and overall execution of the companys successful acquisitions of LinkedIn and GitHub. Retired Chairman of the Board and Chief Executive Officer The Kroger Co., a large retailer that operates retail food and drug stores, multi-department stores, jewelry stores, and convenience stores throughout the U.S. Mr. Dillon retired as Krogers Chairman of the Board on December 31, 2014, where he was Chairman of the Board since 2004 and was the Chief Executive Officer from 2003 through 2013. The proxy statement's main purpose is to alert shareholders to the annual meeting and provide them information about the issues that will be voted on during the annual meeting, including decisions such as electing directors, ratifying the selection of auditors, and other shareholder-related decisions, including shareholder-initiated initiatives. Eric joined 3M in 1997, and held several leadership positions in the Finance organization, primarily in Health Care and Electronics. Jeff earned his bachelor of business administration degree in marketing and finance from the Robert O. Anderson School of Management at the University of New Mexico, Albuquerque. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Throughout her life and career, Karina has lived and worked around the world. Kevin Rhodes is Executive Vice President and Chief Legal Affairs Officer, overseeing legal, compliance, government affairs and global security matters for 3M. 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. Mr. Pizarro is a member of Edison International's Board of Directors. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Inspired, passionate leaders have the power to transform, Jeff says. In his current position, John remains focused on driving change, challenging the status quo and helping develop the 3M leaders of tomorrow. This employer has claimed their Employer Profile and is engaged in the Glassdoor community. You can sign up for additional alert options at any time. You may also find the annual proxy statement by going directly to the company's website. The more qualifications you can bring to the table, the better. 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. A proxy statement is a document the SEC requires companies to provide shareholders that includes information needed to make decisions at shareholder meetings. President and CEO, Edison International, the parent company of Southern California Edison (SCE), one of the nations largest electric utilities, since 2016. It regularly meets in executive session, without the presence of Rogers' management. From 1997 to 1999 he served in leadership positions at United Technologies Corporation, including its Vice President, Supply Management. The estimated additional pay is $170,007 per year. The compensation analysis excludes any temporary reductions to director compensation implemented due to the pandemic. 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. Ms. Kereere served in leadership positions at American Express from 1988 to 2016, including as head of its U.S. National Merchant Business and Global Network Business. Ms. Chow served as the CEO of AT&T Business from 2019 to 2022 after having served in various executive leadership positions at AT&T since 2000. 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. Mr. Anderson served without compensation as the President and Chief Executive Officer of Amtrak, an intercity passenger rail service provider, from July 2017 until his retirement on April 15, 2020. . The proxy statement also says the company isseekingexpertise in governance, strategy, development, and execution; people who understand financial, operational and strategic issues facing large retail companies; global or international business experience; technology and e-commerce experience; marketing, brand management or public relations experience; finance, accounting, or financial reporting experience; or regulatory or legal experience. 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 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 . He led 3Ms International Finance organization, and also served four years as 3Ms Senior Vice President of FP&A and Chief Accounting Officer. Sales Compensation Trends Revealed in New Survey. In recent years, companies have also begun to seek ethnic and gender diversity on their boards. 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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. For the past eight years, Ms. She currently serves as Lead Director on the Board of Directors for FranklinCovey and as Adjunct Professor of Executive Education at the Kellogg School of Management, Northwestern University. How can I negotiate if they say the offer is off, Planning to bid on a house - 1.3M, with a base salary of 210K - in Seattle.. Worth it? He earned a bachelors degree from St. Josephs College of Commerce in Bangalore, India. The Energy sector provides the highest median cash retainer for board service ($86,250) and Technology the lowest ($60,000). Outside of work, Monish enjoys reading, music, watching cricket, playing tennis or badminton and spending time with his family. Mr. Roman also has held numerous leadership positions in Asia Pacific and Europe, across multiple businesses. The Company assumes no obligation to update or revise any forward-looking statements. 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. He most recently was Senior Vice President and Deputy General Counsel, advising senior management and the Board of Directors on legal issues. 3M has added Suzan Kereere to its board of directors. 3M shareholders today elected 11 directors for one-year terms that expire at the company's 2021 Annual Meeting: Thomas "Tony" K. Brown, retired group vice president, Global Purchasing, Ford Motor Company Pamela J. Craig, retired chief financial officer, Accenture plc David B. Dillon, retired chairman of the board and CEO, The Kroger Co. 3M Company Board of Directors Compensation Committee Charter (As Amended February 10, 2003) A. Director compensation structure remains consistent with prior years, with an average mix of 57% equity and 43% cash across the entire sample. I believe great leaders are great listeners who carry themselves with humility, authenticity, accessibility, transparency and integrity.. Learn how we're working to improve lives and make what's next at 3M.com/newsor on Twitter at@3Mor@3MNews. 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. Approximately 94% of companies denominate equity awards as a dollar value rather than as a fixed number of shares. 3M Company Board of Directors Compensation Committee Charter (As Affirmed February 5, 2019) A. About3M 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. "Anne has decades of experience in technology and business, and a proven track record of transforming global organizations and community engagement. 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. From January 2006 through December 2006, Mr. Kent served as President of Coca-Cola International. Three years later, he was tapped to lead 3Ms corporate research lab. He was assigned to lead 3Ms $5.5B Electronics & Energy Business Group in July 2017. 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). As a board member, your responsibilities would typically include preparing for and attending board meetings, and reviewing company filings and materials, she says, as well as advising management on a wide range of matters, including succession, strategy, compensation, and acquisitions.