ST. PAUL, Minn., May 11, 2021 /PRNewswire/ -- 3M (NYSE: MMM) today held its Annual Meeting of
Shareholders, highlighting how the company has fought the pandemic
from all angles, delivered strong performance for shareholders,
strengthened its commitment to sustainability, and positioned
itself for future growth.
"I am proud of how 3M has stepped
up to help meet the extraordinary challenges facing the world,"
said Mike Roman, 3M chairman and chief executive officer. "Last
year, we stepped up to do our part in fighting the pandemic, while
innovating for customers, accelerating our sustainability efforts,
advancing our values and building for the future. As we navigate
global uncertainty resulting from COVID-19, we are confident 3M's
deep competitive advantages position us for a strong 2021. We
continue to prioritize investments in growth, productivity and
sustainability, while delivering for our customers and
shareholders."
Preliminary Shareholder Voting Results
3M shareholders today voted on six
items of business.
- Shareholders elected 12 directors for one-year terms that
expire at the company's 2022 Annual Meeting:
-
- Thomas "Tony" K. Brown, retired group vice president, Global
Purchasing, Ford Motor Company
- Pamela J. Craig, retired chief
financial officer, Accenture plc
- David B. Dillon, retired
chairman of the board and CEO of The Kroger Co.
- Michael L. Eskew, retired
chairman of the board and CEO, United Parcel Service Inc.
- James R. Fitterling, chairman of
the board and CEO, Dow Inc.
- Herbert L. Henkel, retired
chairman of the board and CEO, Ingersoll-Rand plc
- Amy E. Hood, executive vice
president and chief financial officer, Microsoft Corporation
- Muhtar Kent, retired chairman of
the board and CEO, The Coca-Cola Company
- Dambisa F. Moyo, founder and CEO, Mildstorm LLC
- Gregory R. Page, retired
chairman of the board and CEO, Cargill, Incorporated
- Michael F. Roman, chairman of
board and CEO, 3M Company
- Patricia A. Woertz, retired
chairman of the board and CEO, Archer-Daniels-Midland Company
- Shareholders ratified the appointment of PricewaterhouseCoopers
LLP as 3M's independent registered public accounting firm for
2021.
- Shareholders approved, on an advisory basis, executives'
compensation as described in the proxy statement.
- Shareholders approved the amendment and restatement of 2016
Long-Term Incentive Plan.
- Shareholders did not approve the shareholder proposal to set
target amounts for CEO compensation.
- Shareholders did not approve the shareholder proposal on
transitioning to a public benefit corporation.
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.
Forward-Looking Statements
This news release contains forward-looking information about
3M's financial results and estimates and business prospects that
involve substantial risks and uncertainties. You can identify these
statements by the use of words such as "anticipate," "estimate,"
"expect," "aim," "project," "intend," "plan," "believe," "will,"
"should," "could," "target," "forecast" and other words and terms
of similar meaning in connection with any discussion of future
operating or financial performance or business plans or prospects.
Among the factors that could cause actual results to differ
materially are the following: (1) worldwide economic, political,
regulatory, capital markets and other external conditions and other
factors beyond the Company's control, including natural and other
disasters or climate change affecting the operations of the Company
or its customers and suppliers; (2) risks related to public health
crises such as the global pandemic associated with the coronavirus
(COVID-19); (3) foreign currency exchange rates and fluctuations in
those rates; (4) liabilities related to certain fluorochemicals,
including lawsuits concerning various PFAS-related products and
chemistries, and claims and governmental regulatory proceedings and
inquiries related to PFAS in a variety of jurisdictions; (5) legal
proceedings, including significant developments that could occur in
the legal and regulatory proceedings described in the Company's
Annual Report on Form 10-K for the year ended Dec. 31, 2020, and any subsequent quarterly
reports on Form 10-Q (the "Reports"); (6) competitive conditions
and customer preferences; (7) the timing and market acceptance of
new product offerings; (8) the availability and cost of purchased
components, compounds, raw materials and energy (including oil and
natural gas and their derivatives) due to shortages, increased
demand or supply interruptions (including those caused by natural
and other disasters and other events); (9) unanticipated problems
or delays with the phased implementation of a global enterprise
resource planning (ERP) system, or security breaches and other
disruptions to the Company's information technology infrastructure;
(10) the impact of acquisitions, strategic alliances, divestitures
and other unusual events resulting from portfolio management
actions and other evolving business strategies, and possible
organizational restructuring; (11) operational execution, including
scenarios where the Company generates fewer productivity
improvements than estimated; (12) financial market risks that may
affect the Company's funding obligations under defined benefit
pension and postretirement plans; (13) the Company's credit ratings
and its cost of capital; and (14) tax-related external conditions,
including changes in tax rates, laws or regulations. Changes in
such assumptions or factors could produce significantly different
results. A further description of these factors is located in the
Reports under "Cautionary Note Concerning Factors That May Affect
Future Results" and "Risk Factors" in Part I, Items 1 and 1A
(Annual Report) and in Part I, Item 2 and Part II, Item 1A
(Quarterly Reports), as updated by applicable Current Reports on
Form 8-K. The information contained in this news release is as of
the date indicated. The Company assumes no obligation to update any
forward-looking statements contained in this news release as a
result of new information or future events or developments.
About 3M
At 3M, we apply science in
collaborative ways to improve lives daily as our employees connect
with customers all around the world. Learn more about 3M's creative
solutions to the world's problems at www.3M.com or on Twitter @3M
or @3MNews.
Contacts
3M
Investor Contacts:
Bruce Jermeland, 651-733-1807
or
Tony Riter, 651-733-1141
or
Media Contact:
Tim Post, 651-733-9789
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SOURCE 3M