Inge G. Thulin served as the CEO of 3M from 2012 to 2018, profoundly influencing the company's direction during his tenure. He started at 3M in 2003 and quickly climbed the ranks, eventually taking the helm as CEO. His compensation...

Inge G. Thulin served as the CEO of 3M from 2012 to 2018, profoundly influencing the company's direction during his tenure. He started at 3M in 2003 and quickly climbed the ranks, eventually taking the helm as CEO. His compensation peaked at over $19 million in 2015, reflecting a focus on aligning his pay with the company's performance. Interesting to note, in 2018, his total compensation dropped significantly to just $1.9 million due to no stock vesting that year, showcasing how performance-based pay works. Thulin was known for utilizing 3M's corporate aircraft extensively for both personal and business travel, emphasizing his commitment to safety and efficiency while traveling. He also played a crucial role in succession planning for the company, transitioning to Executive Chairman in 2018 and paving the way for Michael F. Roman to become the new CEO. After a remarkable 16-year leadership journey at 3M, which is known for its innovative products ranging from tape to medical supplies, Thulin retired in 2019, leaving behind a legacy of strategic growth and industry leadership.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other 3M CEOs

3

Inge G. Thulin

Ex-CEO of 3M

Education

M.B.A. from the University of Lund

Field of Expertise

Business & Management

Sector of Economy

Industrials

Born

April 15, 1954 - 70 years ago

CEO of 3M for

6 years 4 months (Feb 2012 - Jul 2018)

Previous Experience

Executive Vice President of International Operations at 3M

Rivals

Competitors/colleagues of Inge G. Thulin

A

William F. Gifford, Jr.

CEO of Altria Group

2023 Compensation

Stock

$2.04M

Salary

$1.35M

Bonus

$2.73M

Other

$228.07K

Total Holdings

$36.47M

H

Darius Adamczyk

CEO of Honeywell International

2023 Compensation

Stock

$4.50M

Salary

$1.45M

Bonus

$283.84K

Other

$219.87K

Total Holdings

$43.54M

C

David A. Roberts

CEO of Carlisle Companies

2017 Compensation

Stock

$0.00

Salary

$792.20K

Bonus

$1.19M

Other

$12.76K

Total Holdings

$72.05M

D

Thomas P. Joyce, Jr.

CEO of Danaher

2023 Compensation

Stock

$8.07M

Salary

$1.30M

Bonus

$0.00

Other

$484.19K

Total Holdings

$44.33M

V

Hans E. Vestberg

CEO of Verizon Communications

2023 Compensation

Stock

$0.00

Salary

$1.50M

Bonus

$0.00

Other

$541.78K

Total Holdings

$10.07M

I

Nicholas Fanandakis

CEO of ITT

2023 Compensation

Stock

$0.00

Salary

$1.09M

Bonus

$0.00

Other

$158.98K

Total Holdings

$1.45M

Holdings

See how much did Inge G. Thulin make over time.

During his time as CEO, Inge G. Thulin made notable investments in 3M, reflecting confidence in the company. He had significant holdings, with fluctuations depending on the company's stock performance and market conditions. For instance, when he peaked in 2015,...

During his time as CEO, Inge G. Thulin made notable investments in 3M, reflecting confidence in the company. He had significant holdings, with fluctuations depending on the company's stock performance and market conditions. For instance, when he peaked in 2015, his wealth was tied to his vested stock and options, aligning with a market value upwards of $19 million. However, by 2018, his holdings and net worth saw a notable shift as his incentives shifted away from stock options, illustrating the impact of performance metrics on his overall wealth. Throughout his tenure, he strategically balanced his investments with the company’s overall economic landscape. Now, his current holdings are worth considerably less, underscoring how market dynamics affect executive wealth over time.

Mar 18, 2025

C

shares

CVX @ $160.81

M

shares

MMM @ $150.92

T

shares

TTC @ $72.79

Total Stock Sold

$59.26M

MMM

$59.26M

485,119.128 MMM shares

What if they kept their stock?

If Inge G. Thulin didn't sell their stock, today they would have:
Extra MMM485,119.128 shares worth $59.94M.
This is 1.15% and $678.62K more than what they got when they sold the stock.

Charitable Transactions

MMM

1,255.8 shares

MMM

Recent Charitable Transactions

MMM

1,050 shares

MMM

Dec 31, 2014

Charity

Insider Trading

See recent insider trades of Inge G. Thulin.

MMM

$1.71M

MMM at $208.06/share

Mar 29, 2019

Sale

MMM

$249.03K

MMM at $208.92/share

Mar 29, 2019

Sale

MMM

$1.26M

MMM at $208.27/share

Mar 29, 2019

Sale

MMM

$1.22M

MMM at $208.15/share

Mar 29, 2019

Sale

MMM

$1.14M

MMM at $208.58/share

Mar 29, 2019

Sale

MMM

38,768.728 shares

MMM

Feb 5, 2019

Received

MMM

38,768.728 shares

MMM

Feb 5, 2019

Received

MMM

$2.66M

MMM at $200.03/share

Jan 31, 2019

Sale

MMM

$2.70M

MMM at $200.02/share

Jan 30, 2019

Sale

Compensation History

See how much did Inge G. Thulin make over time.

Inge G. Thulin's compensation as CEO of 3M reflected a strategy heavily tied to performance metrics. In 2015, his total earnings reached a high point of $19,441,062. This included a hefty salary, annual bonuses, and substantial long-term incentive awards tied to the company's performance. Notably, in 2017, his bonus payout was based on achieving 169% of target performance metrics. However, in 2018, his total compensation plummeted to $1,906,688 because no stocks vested that year, highlighting the direct link between pay and company success. His overall compensation structure aimed to not just reward him, but to ensure his goals aligned with the shareholders, emphasizing economic profit and local currency sales as key metrics. This structured approach to executive pay ensured the effectiveness of performance incentives throughout his tenure at one of America's industrial giants.

Year

2018

Total Compensation

$3.78M

Salary

$1.27M

Board Justification

The compensation philosophy emphasizes alignment with company performance, peer benchmarking, and retention strategies to attract and retain top executive talent.

Bonus

$1.88M

Board Justification

The annual incentive compensation earned by Inge G. Thulin during 2018 under the Company’s Executive Annual Incentive Plan, based on performance metrics achieved.

Other

$632.49K

Board Justification

Includes various forms of compensation such as life insurance premiums, financial planning, and personal aircraft use.

Restricted Stock

$0.00(0 Performance Shares)

Board Justification

No stock was vested in 2018 as the performance share awards are based on a three-year performance period and were not settled in 2018.

Performance Metrics

Performance metrics for 2018 included local currency sales, economic profit, and free cash flow.

Other 3M CEOs

Here are other CEOs of 3M

George W. Buckley

Ex-CEO of 3M

January 2006 - February 2012

Michael F. Roman

Ex-CEO of 3M

July 2018 - May 2024