Michael F. Roman is the CEO of 3M Company, a large and innovative firm known for its wide range of products in health care, automotive, and more. He became CEO in July 2018 after previously serving as Chief Operating Officer....
Michael F. Roman is the CEO of 3M Company, a large and innovative firm known for its wide range of products in health care, automotive, and more. He became CEO in July 2018 after previously serving as Chief Operating Officer. Roman has a solid background in engineering, holding a degree in Chemical Engineering from the University of Minnesota. Under his leadership, 3M focuses on linking executive pay to company performance. In 2023, Roman's total compensation soared to over $16 million, a big leap from just $1.4 million in 2022, showcasing the emphasis on performance-based pay. His tenure has not been without challenges, as he balances company growth with innovation. This year, Roman will take on a new role as executive chairman and will pass on the CEO role to William M. Brown. He has been instrumental in navigating 3M during tough times and is making sure the company remains focused on long-term success. Interestingly, Roman's compensation structure has adapted to include a wide variety of performance metrics, ensuring a strong connection between pay and the company's financial health. This approach shows his commitment to advancing shareholder interests while leading a company that operates in nearly half of its markets outside the Americas, reflecting the global nature of 3M's business.