UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(d) | On February 2, 2021, the Board of Directors of 3M Company (the “Company”) elected James R. Fitterling to the Company’s Board of Directors, effective February 5, 2021. Mr. Fitterling is the Chairman and Chief Executive Officer of Dow, Inc., a global materials science company. In connection with Mr. Fitterling’s election, the Board of Directors increased its size from 11 to 12 directors, and Mr. Fitterling joined the Board of Directors to fill the resulting vacancy. |
The Board of Directors has determined that Mr. Fitterling is an independent director under the New York Stock Exchange listing standards and the Company’s director independence guidelines, as set forth in its Corporate Governance Guidelines (available on 3M’s website at www.3M.com, under Investor Relations — Corporate Governance).
At the time of his election, the Board had not determined Mr. Fitterling’s committee assignments.
Mr. Fitterling will participate in the compensation program for non-employee directors as described on pages 42-45 of the Company’s Proxy Statement for its Annual Meeting of Stockholders held on May 12, 2020 (filed with the Securities and Exchange Commission on March 25, 2020).
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
Exhibit Number | Description |
99.1 | Press Release, dated as of February 2, 2021, of 3M Company |
104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
3M COMPANY | ||
By: | /s/ Ivan K. Fong, |
Ivan K. Fong, | ||
Senior Vice President, General Counsel & Secretary |
Dated: February 3, 2021
Exhibit 99.1
Jim Fitterling Elected to 3M Board of Directors
ST. PAUL, Minn., Feb. 2, 2021 -- 3M (NYSE: MMM) announced today that Jim Fitterling, chairman and chief executive officer of Dow, Inc. has been elected to 3M's Board of Directors, effective February 5, 2021. In connection with Mr. Fitterling's election, the Board of Directors increased its size from 11 to 12 members.
Fitterling leads Dow, one of the world's leading global materials science companies. In his 35-year career with the company, he has played a key role in its transformation, from lower-margin, commodity businesses to one more deeply focused on higher-growth consumer demand-driven markets that value innovation. He was named CEO-elect of Dow in March 2018 prior to becoming CEO in July 2018, and he was elected chairman in April 2020. Before that, he served as president and chief operating officer of Dow and also previously served as chief operating officer for the Materials Science division of DowDuPont.
Mr. Fitterling chartered the company's ambition to be one of the world's most innovative, customer-centric, inclusive and sustainable materials science companies. Under his leadership the company has committed to providing much-needed innovation and resources to address key sustainability challenges such as plastic waste and climate change. He is also a passionate advocate for inclusion and diversity with a focus on diversifying Dow's global talent, enhancing innovation and the customer experience, and strengthening relationships in the communities the company serves.
"We are extremely pleased to welcome Jim to our board," said 3M chairman and CEO Mike Roman. "Jim has a deep understanding and appreciation of how materials science can spark meaningful, sustainable innovation and a strong track record of advancing environment, social, and governance goals. His experience in these areas and many others will bring valuable insight to our Board."
About 3M
At 3M, we apply science in collaborative ways to improve lives daily as our employees connect with customers all around the world.
3M
Media Contact:
Jennifer Ehrlich, 651-736-9430
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