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Corporate Governance


3M's Board of Directors, an Independent Body

3M's Board of Directors believes in having a substantial majority of independent directors on the 3M Board. Pursuant to the New York Stock Exchange listing standards, the board has adopted Director Qualification Standards concerning the determination of director independence. In accordance with these standards, the board must affirmatively determine that a director has no material relationship with the company (directly or as a partner, shareholder, or officer of an organization that has a relationship with the company) other than as a director. The 3M Board of Directors has determined that every director, with the exception of the Chairman, President, and Chief Executive Officer, George W. Buckley, is independent under these standards.

Maintaining Excellence

The Board's Nominating and Governance Committee periodically reviews with the 3M board the requisite skills and characteristics of its members. 3M's Corporate Governance Guidelines contain Board Membership Criteria that apply to nominees for a position on 3M's Board of Directors. The committee periodically reviews with the board the appropriate skills and characteristics required of board members given the current board composition. It is the intent of the board that the board, itself, be a high performance organization creating competitive advantage for 3M. To perform as such, the board is composed of individuals who have distinguished records of leadership and success in their arena of activity and who will make substantial contributions to board operations and effectively represent the interests of all stockholders.

Identifying Opportunities & Risks in Relating to Sustainable Development

The Board's Public Issues Committee reviews public policy issues and trends affecting the company. It also reviews and advises on 3M's environmental, health and safety programs and compliance, human resources programs, as well as corporate contributions and 3M Foundation programs. It also reviews and approves the company's response to stockholder proposals relating to public policy issues. In addition, the committee:

  • Monitors 3M's corporate citizenship activities.
  • Offers advice, insights and makes recommendations regarding policies, programs, actions and procedures enable 3M to continue to respond appropriately to our social responsibilities and the public interest in our business affairs, including activities related to the environment, human resources, labor and community relations.

The Board of Directors has determined that all Public Issues Committee members are "independent" under the New York Stock Exchange listing standards.

Shareholder Input

3M values shareholder input. Stockholders may communicate with the chairs of the Audit, Compensation, Nominating and Governance, and Public Issues Committees of the board, or with our independent directors, by sending a letter to the following address: 3M Company, c/o Corporate Secretary, 3M Center, Building 0220-13W-39, St. Paul, MN 55144-1000.