David P. Bozeman
3MAbout David P. Bozeman
David P. Bozeman, age 56, is an independent director of 3M, first elected by the Board effective February 6, 2025; he is CEO and a director of C.H. Robinson Worldwide, Inc. and serves on 3M’s Science, Technology & Sustainability (STS) Committee . He holds an MS in Engineering Management (Milwaukee School of Engineering) and a BS in Manufacturing Design (Bradley University), and brings 30+ years of operating leadership across supply chain, manufacturing, digital, and customer service, including senior roles at Ford, Amazon, Caterpillar, and Harley‑Davidson . The Board affirmatively determined he is independent under NYSE standards and 3M’s Director Independence Guidelines .
Past Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| C.H. Robinson Worldwide, Inc. | President & CEO; Director | Since June 2023 | Global logistics; public company CEO experience |
| Ford Motor Company | VP, Ford Customer Service Division; VP, Enthusiast Vehicles (Ford Blue) | 2022–2023 | Automotive operations and customer service leadership |
| Amazon.com, Inc. | SVP, Amazon Transportation Services | 2017–2022 | Large‑scale digital logistics and transportation |
| Caterpillar, Inc. | Senior VP, Enterprise Systems (roles of increasing seniority) | 2008–2016 | Manufacturing and enterprise systems leadership |
| Harley‑Davidson, Inc. | Various roles | 1992–2008 | 16 years of manufacturing/operations exposure |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| C.H. Robinson Worldwide, Inc. | President & CEO; Director | 2023–present | Public company directorship; operating CEO |
| Weyerhaeuser | Director | 2015–2017 | Prior public company board experience |
| The Brookings Institution | Director | Not disclosed | Non‑profit governance |
| The Conservation Fund | Director | Not disclosed | Non‑profit governance |
Board Governance
- Committee assignments: Science, Technology & Sustainability (STS) Committee member, effective February 6, 2025 .
- Independence: Board affirmed Bozeman is independent; review included commercial and charitable relationships and applied a <1% revenue threshold for transactions with companies where directors are/were officers; all within guidelines .
- Attendance: Board/committee attendance in 2024 was 97% overall; all nominees who were directors during 2024 attended ≥83% of meetings (Bozeman joined in 2025) .
Fixed Compensation
Non‑employee director compensation is retainer‑based (no meeting fees) with cash and equity components, emphasizing alignment via stock/DSUs and hold‑until‑departure.
| Element | Amount/Policy | Notes |
|---|---|---|
| Annual stock retainer (DSUs; grant‑date fair value) | $195,000 | 2024 director stock awards show $195,000 per director |
| Annual cash retainer | Not disclosed here | Cash fees shown by director; program increased cash retainer in May 2024 (+$5,000) |
| Lead Independent Director fee | $45,000 | Increased by $5,000 in May 2024 |
| Nominating & Governance Chair fee | $20,000 | Chair retainer |
| Other Committee Chair fee | $25,000 | Chair retainer (e.g., STS, Audit, C&T) |
| Meeting fees | None | Retainer‑only structure; no meeting fees |
| Equity form & vesting | DSUs; vest on grant date | DSUs convert to shares post‑Board service; dividend equivalents accrue |
| Stock retention requirement | Hold‑until‑departure | Directors must retain net after‑tax shares/DSUs until leaving the Board |
| Hedging/pledging | Prohibited | No hedging, short sales, standing orders, margin accounts, pledging |
Bozeman will participate in the non‑employee director program; his appointment 8‑K references the standing director compensation policy .
Performance Compensation
- Not applicable: 3M does not use performance‑based metrics for non‑employee director pay; equity grants are full‑value (DSUs), immediately vested, and held until departure; no options are granted to directors .
Other Directorships & Interlocks
| Company | Role | Interlock/Transaction Considerations |
|---|---|---|
| C.H. Robinson Worldwide, Inc. | President & CEO; Director | Board’s independence review evaluated transactions with companies where directors are/were officers and found volumes below 1% of those companies’ revenues; Bozeman deemed independent . |
| Weyerhaeuser (prior) | Director (2015–2017) | Historical public board role . |
| Non‑profit boards | Brookings Institution; The Conservation Fund | Charitable affiliations considered in independence review; below thresholds . |
Expertise & Qualifications
- Deep operating experience in supply chain, manufacturing, and enterprise systems; expertise in reinventing complex operating models and large‑scale digital logistics .
- Public company CEO and director experience; global operations and customer service leadership (Amazon, Ford, Caterpillar, Harley‑Davidson) .
- Technical credentials: MS Engineering Management (MSOE), BS Manufacturing Design (Bradley) .
Equity Ownership
| Holder | Stock | RSUs | Deferred Stock (DSUs/Deferred shares) | Total | % of Class |
|---|---|---|---|---|---|
| David P. Bozeman | — | — | 339 | 339 | <1% (group threshold) |
- Ownership mechanics: “Deferred stock” reflects DSUs/shares payable post‑Board service; directors must hold annual stock retainers until departure; no hedging/pledging permitted .
- Footnotes confirm beneficial ownership methodology and that individual and group holdings are each <1% of outstanding common stock; voting power on deferred stock is not held prior to distribution .
Governance Assessment
- Strengths: Independent status affirmed; strong operational and supply chain expertise aligned with STS oversight; director equity with hold‑until‑departure enhances alignment .
- Watchpoints: Bozeman is CEO of a major logistics firm (C.H. Robinson); Board’s annual independence review assessed any 3M–director‑affiliated transactions and found volumes below the 1% threshold—continue monitoring for any evolving interlocks or material relationships .
- Signals of board effectiveness: Active committee oversight framework; STS primary oversight of sustainability and stewardship; robust independence policies and trading restrictions; high overall attendance in 2024 .
- Related‑party transactions: None referred to the N&G Committee in 2024 (no related person transactions) .
Additional context: Bozeman’s election and STS committee assignment were disclosed February 10, 2025 (effective February 6, 2025), alongside Board leadership changes (CEO William M. Brown appointed Chairman; Mike Roman retiring from Executive Chair and Director) .