ST. PAUL, Minn., May 14, 2024 /PRNewswire/ -- At today's Annual Meeting of Shareholders, 3M (NYSE:MMM) highlighted its strong portfolio of leading businesses, leading innovation in material science, and progress in executing the company's strategic priorities.
"In 2023, we took significant action to improve our performance across our businesses and our operational execution. Our results demonstrate the positive impact of the changes we have made over the last several years, " said 3M executive chairman Mike Roman. "The progress we have made in executing our strategic priorities positions the company for long-term shareholder value creation as Bill Brown assumes the role of 3M CEO."
Preliminary Shareholder Voting Results
3M shareholders today voted on four business items:
1) Shareholders elected 12 directors for one-year terms that expire at the company's 2025 Annual Meeting:
- Thomas "Tony" K. Brown, retired group vice president, Global Purchasing, Ford Motor Company
- William M. "Bill" Brown, chief executive officer, 3M Company
- Audrey Choi, retired chief sustainability officer and chief marketing officer, Morgan Stanley
- Anne H. Chow, retired chief executive officer, AT&T Business
- David B. Dillon, retired chairman of the board and chief executive officer, The Kroger Co.
- James R. Fitterling, chairman of the board and chief executive officer, Dow Inc.
- Amy E. Hood, executive vice president and chief financial officer, Microsoft Corporation
- Suzan Kereere, president, global markets, PayPal
- Gregory R. Page, retired chairman of the board and chief executive officer, Cargill
- Pedro J. Pizarro, president and chief executive officer and director, Edison International
- Michael F. Roman, executive chairman and former chief executive officer, 3M Company
- Thomas W. Sweet, retired chief financial officer, Dell Technologies
2) Shareholders ratified the appointment of PricewaterhouseCoopers LLP as 3M's independent registered public accounting firm for 2024.
3) Approval, on an advisory basis, of executives' compensation as described in the proxy statement did not receive the requisite number of favorable votes.
4) Shareholders did not approve a shareholder proposal on an enhanced share ownership policy.
3M will disclose the final voting results on each item of business properly presented at the Annual Meeting on Form 8-K to be filed with the SEC.
With respect to the proposal to approve, on an advisory basis, the Company's executive compensation as described in the proxy statement, the Board of Directors takes the results of the annual advisory vote seriously. The Compensation and Talent Committee of the Board reviews our executive compensation program on an annual basis and considers shareholder perspectives as one of the critical inputs in this review process. The Company looks forward to engaging in further dialogue with its shareholders to understand their views while working to ensure alignment of the executive compensation program with the interests of our shareholders.
Forward-Looking Statements
About 3M
3M (NYSE: MMM) believes science helps create a brighter world for everyone. 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. Learn how we're working to improve lives and make what's next at 3M.com/news.
Please note that the company announces material financial, business and operational information using the 3M investor relations website, SEC filings, press releases, public conference calls and webcasts. The company also uses the 3M News Center and social media to communicate with our customers and the public about the company, products and services and other matters. It is possible that the information 3M posts on the News Center and social media could be deemed to be material information. Therefore, the company encourages investors, the media and others interested in 3M to review the information posted on 3M's news center and the social media channels such as @3M or @3MNews.
Contacts
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SOURCE 3M Company
