Summary
3M Company (MMM) announced a change to its Board of Directors via an 8-K filing on February 9, 2022. The company elected Suzan Kereere to the Board, effective February 10, 2022. Ms. Kereere brings experience from her role as Head of Global Business Solutions at Fiserv, Inc., a fintech and payments company. Her appointment increases the Board size from 12 to 13 directors and fills a newly created vacancy. The company has also confirmed Ms. Kereere's independence according to NYSE listing standards and 3M's own guidelines. Furthermore, she has been appointed to the Compensation Committee, indicating a focus on executive compensation oversight. Ms. Kereere will participate in the standard compensation program for non-employee directors.
Key Highlights
- 1Suzan Kereere appointed to the 3M Board of Directors, effective February 10, 2022.
- 2Ms. Kereere's appointment increases the Board size to 13 directors.
- 3Ms. Kereere is Head of Global Business Solutions at Fiserv, Inc.
- 4The Board has determined Ms. Kereere to be an independent director.
- 5Ms. Kereere has been appointed to the Compensation Committee of the Board.
- 6Ms. Kereere qualifies as a 'non-employee director' and 'outside director'.