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. Tel: (651) 737-6523 She has led global organizations through major transformations with decades of strategic and operational experience serving the business marketplace, including roles as president, AT&T National Business and president, and AT&T Integrator Solutions. 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. Shareholders can communicate with the Chairman of the Corporate Governance Committee or with the independent directors as a group by writing to them c/o: Gayle Littleton, Executive Vice President, General Counsel. My new VP is in the company less than 6m and in the position 3m. He leads a team that, among other things, helps to keep the world connected by improving efficiency in electronic devices and data centers, enables e-mobility, and advances transportation and its safety. The median compensation for members of private company boards of directors was $44,850 in 2021, according to a global study by Lodestone Global. It goes a lot higher from there. Another example would be compensation meetings to discuss compensation plans and awards.. In connection with Ms. Kereere's election, the Board of Directors . 0 Anne Chow and Pedro Pizarro elected to 3M Board of Directors, Caution Concerning Forward-Looking Statements, https://www.prnewswire.com/news-releases/anne-chow-and-pedro-pizarro-elected-to-3m-board-of-directors-301741429.html, SDS, RDS, More Regulatory & Compliance Information. 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.. Sales Compensation Trends Revealed in New Survey. That's a 43% increase over 10 years. Kereere currently serves as head of global business solutions for Fiserv Inc. She has more than 20 years of international business leadership experience, previously working in executive leadership positions with such companies as Visa and American Express before joining Fiserv. 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.. This is an opportunity for us to shape what were going to be for the next 100 years., We need to act with purpose: One 3Mer's passion is shaping 3M's approach to addressing equity in STEM, Averages based on self-reported salaries. 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. 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. hbbd``b`$fH0@= , VDtbc a`$2012| Due to the COVID-19 pandemic, 15% of S&P 500 companies and roughly 13% of Russell 3000 companies reported taking pay actions through the third quarter of 2020, which generally consisted of cash retainer reductions. The Company assumes no obligation to update or revise any forward-looking statements. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Head of Global Business Solutions, Fiserv, Inc. A director elected to the Board after the beginning of a Plan Year may elect, by written notice to 3M within 30 days after such director's term begins, to participate in the Compensation alternatives for the remainder of that Plan Year, and election for succeeding years shall be on the same basis as for other directors. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. Ms. 6 yrs at my current company. 3Ms culture brings together passionate people with purpose and strategy to solve some of the worlds toughest challenges.. By providing your email address below, you are providing consent to 3M to send you the requested Investor Email Alert updates. 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. Explore our Directors and their backgrounds. x\s6(uj L3#inj'Flt?MR4(X,v _u]o_m-W?wpys1_#i5HJ In connection with Ms. Chow and Mr. Pizarro's election, the Board of Directors increased its size from 11 to 13 members. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. I am starting to look elsewhere but I have great WFH life now. 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. 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. Not surprisingly, the most lucrative seats go to directors at S&P 500 companies. The median decrease in director compensation was 50% at S&P 500 companies and 40% at Russell 3000 companies. The median compensation for members of private company boards of directors was $44,850 in 2021, according to a global study by Lodestone Global. 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. Ms. Chow earned her bachelor's and master's degrees in electrical engineering, and a master's degree in business administration, from Cornell University. It regularly meets in executive session, without the presence of Rogers' management. At 3M, we promise to treat your data with respect and will not share your information with any third party. Ms. Kereere is also a longtime champion for equity and inclusion in business and society. Of this total $47,843 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 . For him, that comes down to business/market analysis and team success. Before joining the Edison International companies, Mr. Pizarro was a senior engagement manager with McKinsey & Company. St. Paul, MN 55144-1000 degree from Harvard University and a Ph.D. in Economics from the University of Oxford. Approximately 94% of companies denominate equity awards as a dollar value rather than as a fixed number of shares. 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. Anne Chow's career in the technology and business sectors spans over three decades. 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 structure remains consistent with prior years, with an average mix of 57% equity and 43% cash across the entire sample. Help make it more accurate by adding yours. Jeff has lived and worked internationally for 3M, and always with a great passion on exceeding customer expectations. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Forward-looking statements relate to future events and typically address 3Ms expected future business and financial performance. Ms. Chow has led global organizations through major transformations with decades of strategic and operational experience serving the business marketplace, including roles as president, AT&T National Business and president, and AT&T Integrator Solutions. President and CEO, Edison International, the parent company of Southern California Edison (SCE), one of the nations largest electric utilities, since 2016. 3 0 obj Aptiv PLC (Compensation and Human Resources, and Nominating and Governance committees) Additional Positions. 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. A. 3M provides a match up to a certain percent, 3M is a global science company that never stops inventing. 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. 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 Monish joined 3M as senior vice president and chief financial officer in July 2020 and was drawn to the company for its history of innovation, ethics and global reach. Average compensation in 2018 at those firms was $304,856, according to Reuters. A decades-long career at 3M can span a diverse range of businesses, market segments and geographies, Mike says. 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. 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. 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. She earned a B.A. As a former Big, Mike is a long-time supporter of Big Brothers Big Sisters of America. It begins with actively listening and then relentlessly working to deliver outcomes to solve customer problems, says Monish. If you experience any issues with this process, please contact us for further assistance. 224-1W-02 Mr. Fitterling was named CEO-elect of Dow in March 2018 prior to becoming CEO in July 2018, and he was elected chairman in April 2020. Mike joined the company in 1992, shortly after earning a Ph.D. in chemistry from M.I.T. In 2008, he returned to the U.S. to become vice president and general manager of Aearo Technologies LLC, which 3M acquired that year. He was a senior research chemist in the Visual Systems Division before joining 3M Italy as a product development engineer. 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. Ive been fortunate enough to see this company from many, many anglesand 3M is impressive no matter where you are in the world.. Mike is most proud of seeing the success of coworkers and people he has mentored during his time at the company. The company is strengthening environmental stewardship with a $1 billion commitment to achieve carbon neutrality, reduce water use, improve water quality and reduce its use of plastics. Mark holds a bachelors degree in electrical engineering from Purdue University, and an M.B.A. from Indiana University. Dr. Moyo served as Global Economist & Capital Markets at Goldman Sachs from 2001 to 2008. That year's top payer was Goldman Sachs Group Inc., which paid its directors an average of $599,279. Mr. Dillon served as President from 1995 to 2003 and was elected Executive Vice President in 1990. Outside of work he enjoys reading, following college sports and spending time with his family. Mike and his family enjoy a variety of physical fitness and outdoor activities. Ms. Lynch has helmed CVS Health since February 2021 and leads more than 300,000 employees, according to a . 123 0 obj <>stream Coronavirus Tips Working and Protection, For its 2021 fiscal year, 3M CO, listed the following executives on its annual proxy statement to the SEC. He most recently was Senior Vice President and Deputy General Counsel, advising senior management and the Board of Directors on legal issues. Over the years, his career with 3M has sent him abroad four times for varied roles, including research chemist, manufacturing director and general manager. U.S. Securities and Exchange Commission. Prior to joining 3M in 2001, Kevin was a partner at Kirkland & Ellis in Chicago. In 2011, he became executive vice president of the Consumer Business Group, and in 2016 was appointed executive vice president of the Health Care Business Group. As executive vice president, chief technology officer and environmental responsibility, Dr. John Banovetz leads more than 8,000 scientists who connect 3Ms 51 technology platforms to solve the real-world needs of customers around the world. 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. Investopedia requires writers to use primary sources to support their work. 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.
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