Summary
This 8-K filing by 3M Company (MMM) announces a significant addition to its Board of Directors. James R. Fitterling, the current Chairman and CEO of Dow, Inc., has been elected to the Board, effective February 5, 2021. This appointment increases the size of the Board from 11 to 12 directors and is intended to fill the resulting vacancy. Mr. Fitterling is considered an independent director according to both NYSE listing standards and 3M's own governance guidelines. His expertise from leading Dow, a major player in the materials science industry, is expected to bring valuable insights to 3M's strategic direction. While committee assignments are still pending, Mr. Fitterling will participate in the standard compensation program for non-employee directors.
Key Highlights
- 13M Company has elected James R. Fitterling, Chairman and CEO of Dow, Inc., to its Board of Directors.
- 2Mr. Fitterling's appointment is effective February 5, 2021.
- 3The size of the Board of Directors has been increased from 11 to 12 members.
- 4Mr. Fitterling has been deemed an independent director by 3M.
- 5The filing includes a press release dated February 2, 2021, as an exhibit.
- 6Mr. Fitterling will receive compensation according to the non-employee director program.