Bloomberg Law
March 22, 2023, 9:38 PM

3M Chief’s Compensation Slashed by 23% Last Year Amid Stock Rout

Ryan Beene
Ryan Beene
Bloomberg News

3M Co. Chief Executive Officer Mike Roman’s compensation fell by 23% last year as sales growth slowed and the company was battered by litigation, inflation and supply-chain disruptions.

Roman’s total target compensation last year was $14 million, down from $18.2 million in 2021, according to the company’s annual proxy statement. The shift came as 3M struggled to manage slowing demand in key markets such as consumer electronics and retail channels as well as higher costs.

The stock fell 32% last year compared with a 19% decline in the S&P 500 Index. Analysts say the company faces billions of dollars ...

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