William M. Brown
Also at 3M Co
About
William M. Brown boasts an impressive career in the technology and industrial sectors, having held several high-level executive roles over the years. He served at United Technologies Corporation for 14 years before taking on leadership positions at Harris Corporation, where he became President and later Chairman, and then at L3Harris Technologies during its transformational merger period.
Since his appointment as Chief Executive Officer of MMM on May 1, 2024, he has been steering the company with a vision focused on organic revenue growth, enhanced operational performance, and strategic capital deployment. His leadership is also underscored by active participation on the boards of notable companies such as Becton, Dickinson and Company and Celanese Corporation, highlighting his strong background in corporate governance.
In addition to his impressive professional trajectory, his career is marked by significant contributions to the broader industry, including his involvement with the Aerospace Industries Association and the strategic management of complex global organizations. His progressive leadership approach and long-standing experience in high-stakes environments continue to shape his impact at MMM.
$MMM Performance Under William M. Brown
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| L3Harris Technologies | Executive Chair | June 2021 - June 2022 | Served as Executive Chair following his role as Chairman and CEO |
| L3Harris Technologies | Chairman and Chief Executive Officer | June 2019 - June 2021 | Led the company during its early phase post-merger |
| Harris Corporation | Chairman, President, and Chief Executive Officer | November 2011 - June 2019 | Oversaw merger with L3 Technologies to form L3Harris Technologies |
| United Technologies Corporation (UTC) | Various Leadership Roles | N/A | Spent 14 years in multiple leadership roles prior to joining Harris Corporation |
External Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Becton, Dickinson and Company | Director | N/A | Active directorship |
| Celanese Corporation | Director | N/A | Will serve until Celanese's annual shareholder meeting on May 13, 2024 |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Annual Base Salary | $1,800,000 | Paid in monthly installments | Prorated for 2024 based on the portion of the year worked; employment starts on May 1, 2024 |
| Hiring Bonus | $3,000,000 | Received within 30 days after 3M's receipt of his executed Hiring Bonus Repayment Agreement | Must execute the Hiring Bonus Repayment Agreement within 30 days of start date; repayment obligations if resigns or engages in misconduct before the third anniversary |
Performance Compensation
Short-Term Incentive Compensation Opportunity
| Metric Name | Detail/Value |
|---|---|
| Target Value | $3,150,000, prorated based on start date (May 1, 2024) |
| Performance Metrics | 3M's performance against goals, individual job performance, and vesting requirements |
| Evaluation Period | 2024 (prorated) |
| Conditions | Governed by the 3M Annual Incentive Plan |
Special One-Time Inducement 2024 Performance Share Award
| Metric Name | Detail/Value |
|---|---|
| Performance Period | 2024–2026 |
| Performance Metrics | Organic Sales Growth, Free Cash Flow Growth, Earnings Per Share Growth |
| Target Award | Target number of shares = $2,500,000 divided by the closing trading price on the grant date |
| Payout Range | Ranges from 0% to 200% of the target shares based on performance |
| Vesting Schedule | Vests in a single installment on December 31, 2026 |
| Grant Date | Occurs no later than 60 days after the start date (May 1, 2024), subject to conditions |
| Dividend Rights | Includes cash-settled dividend equivalent rights (if applicable) |
Pro Rata 2024 Performance Share Award
| Metric Name | Detail/Value |
|---|---|
| Performance Period | 2024–2026 |
| Performance Metrics | Organic Sales Growth, Free Cash Flow Growth, Earnings Per Share Growth |
| Target Award | Target number of shares = $4,333,333 divided by the closing trading price on the grant date |
| Vesting Schedule | Vests in a single installment on December 31, 2026 |
| Grant Date | Occurs no later than 60 days after May 1, 2024 |
| Payout Range | Between 0% and 200% of the target shares |
Pro Rata 2024 Stock Option Award
| Metric Name | Detail/Value |
|---|---|
| Target Grant Value | $4,333,333 divided by the fair value per option as determined on the grant date |
| Exercise Price | Equal to the closing trading price of a share on the grant date |
| Vesting Schedule | Vests in three equal installments on the first three anniversaries of the grant date |
| Grant Date | Occurs no later than 60 days after May 1, 2024 |
| Performance Metrics | Expected to align with annual executive awards: Organic Sales Growth, Free Cash Flow Growth, Earnings Per Share Growth |