2016 annual meeting...2016 annual meeting s the meeting will begin in 3 minutes please be seated...
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2016 AnnualMeeting
s
The Meeting WillBegin in 10 Minutes
2016 Annual Meeting
s
The Meeting WillBegin in 5 Minutes
2016 AnnualMeeting
s
The Meeting WillBegin in 3 MinutesPlease Be Seated
2016 AnnualMeeting
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Please Turn OffElectronic Devices
2016 AnnualMeeting
s
The Meeting WillBegin in 1 MinutePlease Be Seated
11. All Rights Reserved.10 May 2016© 3M
CEO Remarks
Business Items
Shareholder Questions and Comments
Agenda
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Inge G. ThulinChairman of the Board, Presidentand Chief Executive Officer
2016 AnnualMeeting
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Gregg M. LarsonCorporate Secretary
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Business Items
Elect the twelve directors identified in the 2016 Proxy Statement, each for a term of one
year
17. All Rights Reserved.10 May 2016© 3M
Business Items
Elect the twelve directors identified in the 2016 Proxy Statement, each for a term of one
year
Ratify the appointment of PricewaterhouseCoopers LLP as 3M’s independent registered
public accounting firm for 2016
18. All Rights Reserved.10 May 2016© 3M
Business Items
Elect the twelve directors identified in the 2016 Proxy Statement, each for a term of one
year
Ratify the appointment of PricewaterhouseCoopers LLP as 3M’s independent registered
public accounting firm for 2016
Approve, on an advisory basis, executive compensation
19. All Rights Reserved.10 May 2016© 3M
Business Items
Elect the twelve directors identified in the 2016 Proxy Statement, each for a term of one
year
Ratify the appointment of PricewaterhouseCoopers LLP as 3M’s independent registered
public accounting firm for 2016
Approve, on an advisory basis, executive compensation
Approve the 2016 Long-Term Incentive Plan
20. All Rights Reserved.10 May 2016© 3M
Business Items
Elect the twelve directors identified in the 2016 Proxy Statement, each for a term of one
year
Ratify the appointment of PricewaterhouseCoopers LLP as 3M’s independent registered
public accounting firm for 2016
Approve, on an advisory basis, executive compensation
Approve the 2016 Long-Term Incentive Plan
Stockholder Proposal on Special Meetings
Stockholder Proposal on the Share Repurchase Program and Executive Compensation
21. All Rights Reserved.10 May 2016© 3M
Our Vision
3M Technology Advancing Every Company
3M Products Enhancing Every Home
3M Innovation Improving Every Life
Our Strategies
Expand relevance to our customers and our presence in the marketplace
Gain profitable market share and accelerate market penetration everywhere
Investing in innovation: Invigorate existing market opportunities and focus on emerging megatrends
Intensify capabilities to achieve regional self-sufficiency
Build high performing and diverse global talent
Drive consistent superior levels of operational excellence
22. All Rights Reserved.10 May 2016© 3M
Investing in Innovation
Portfolio Management
Business Transformation
The 3M Playbook
2015Results
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103%
Free cashflow conversion
+1.3%
Organic local currency growth
Return on invested capital
Earnings per share
$7.58+1.2% year over year
22.5%
Impact of currency on worldwide sales
-3.0%year-on-year
Impact of acquisitions, net of divestitures, on worldwide sales
+1.6%year-on-year
Netsales
$7.4B-2.2% year-on-year22.9%
+0.5% year over year
-6.8%year over year
Net sales
$30.3B-4.9% year over year
Margins
+0.6%year over year
Impact of currency on worldwide sales
Impact of acquisitions,net of divestitures,on worldwide sales
2015 Results
. All Rights Reserved.10 May 2016© 3M
$1.8B $1.5B $3.7B
$2.6B $5.2B
Investments in research and development
Investments in capital expenditures
Investments in acquisitions
Cash returned to shareholders via dividends
Cash returned to shareholders via gross share repurchases
2015 Results
2016 Q1 Results
27. All Rights Reserved.10 May 2016© 3M
2016 Q1 Results
Free cashflow conversion
-0.8%
Organic local currency growth
MarginsEarnings per share
$2.05+10.8% year over year
Impact of acquisitions, net of divestitures, on worldwide sales
+1.6%year-on-year
Netsales
$7.4B-2.2% year-on-year -3.0%
year over year
Net sales
$7.4B-2.2% year over year
+1.6%year over year
Impact of currency on worldwide sales
Impact of acquisitions,net of divestitures,on worldwide sales
24.1%+130 bps year over year
74%
28. All Rights Reserved.10 May 2016© 3M
2016 Q1 Results
$0.5B $0.3B
$0.7B $1.2B
Investments in research and development
Investments in capital expenditures
Cash returned to shareholders via dividends
Cash returned to shareholders via gross share repurchases
29. All Rights Reserved.10 May 2016© 3M
Investing in Innovation
Portfolio Management
Business Transformation
The 3M Playbook
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Executing our three key levers
Investing in Innovation Business TransformationPortfolio Management
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Portfolio Management
Align organization and resources to our best opportunities
Effectively deploy M&A capital
Agile executionPortfolio Management
Gain profitable share everywhere
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Combined businesses to increase customer relevance and drive scale . . . 40 to 26 businesses
Realigned from 6 Sectors to 5 Business Groups Benefits realized
Greater scale and
customer relevance
Increased agility
Reduced costs through
efficiency and productivity
improvements
Reallocated resources to our
best opportunities
Accelerated priority R&D
investments
Enhanced M&A sourcing
and execution
Improved customer relevance
Healthcare
Safety & Graphics
Industrial Consumer
Display & Graphics
Electronics & Communications
Safety, Security, & Protection
Industrial & Transportation
Consumer & Office
Healthcare
6 Sectors 5 Business Groups
Electronics & Energy
40 Businesses 26 Businesses
Organizational structure positions us to deliver efficient growth
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Recent portfolio actions creating significant value
Acquisitions Divestitures
Library Systems
License plate converting (France)
Static control
Membrana = Polypore’s separation media business
Polyfoam
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Investing in Innovation
Increase R&D productivity
Enhance commercialization effectiveness
Invest in and scale new growth platformsInvesting in Innovation
3M innovation creating value for our customers
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The 3M Carlton Science Center
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Business Transformation
Starts and ends with our customers
Continue to successfully roll out ERP
Deliver productivity through footprint optimization and enhanced supply chain and manufacturing capabilitiesBusiness Transformation
$500M to $700M annual savings and $500M working capital improvement by 2020
. All Rights Reserved.10 May 2016© 3M
38. All Rights Reserved.10 May 2016© 3M
Developing our leaders
Adding value to our
company, our customers and
our communities
Creating opportunities
for everyone
We are investing in our people . . .
3M Leadership Way
2016 Annual Meeting
40. All Rights Reserved.10 May 2016© 3M
2016 Annual Meeting
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Board of Directors
Sondra L. Barbour
Thomas “Tony” K. Brown
Dr. Vance D. Coffman
David B. Dillon
Michael L. Eskew
Herbert L. Henkel
Muhtar Kent
Edward M. Liddy
Inge G. Thulin
Robert J. Ulrich
Patricia A. Woertz
Gregory R. Page
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Gregg M. Larson3M Corporate Secretary
44. All Rights Reserved.10 May 2016© 3M
Annual Meeting Rules
Stockholder Proponents – Your remarks must be limited to three minutes
Questions and Comments• Please limit yourself to one question or comment of about one minute in length• Avoid questions or comments that repeat what others have already said
Improper Subject Matter – The meeting is not a forum for discussing:• Pending or threatened litigation against the Company, • Political or other views not directly related to 3M business, or • Personnel matters or grievances against the Company
Prohibited Conduct – Disruptive comments or conduct are prohibited and a basis for removal from the meeting
2016 AnnualMeeting
46. All Rights Reserved.10 May 2016© 3M
Business Items
Elect the twelve directors identified in the 2016 Proxy Statement, each for a term of one
year
47. All Rights Reserved.10 May 2016© 3M
Business Items
Elect the twelve directors identified in the 2016 Proxy Statement, each for a term of one
year
Ratify the appointment of PricewaterhouseCoopers LLP as 3M’s independent registered
public accounting firm for 2016
48. All Rights Reserved.10 May 2016© 3M
Business Items
Elect the twelve directors identified in the 2016 Proxy Statement, each for a term of one
year
Ratify the appointment of PricewaterhouseCoopers LLP as 3M’s independent registered
public accounting firm for 2016
Approve, on an advisory basis, executive compensation
49. All Rights Reserved.10 May 2016© 3M
Business Items
Elect the twelve directors identified in the 2016 Proxy Statement, each for a term of one
year
Ratify the appointment of PricewaterhouseCoopers LLP as 3M’s independent registered
public accounting firm for 2016
Approve, on an advisory basis, executive compensation
Approve the 2016 Long-Term Incentive Plan
50. All Rights Reserved.10 May 2016© 3M
Business Items
Elect the twelve directors identified in the 2016 Proxy Statement, each for a term of one
year
Ratify the appointment of PricewaterhouseCoopers LLP as 3M’s independent registered
public accounting firm for 2016
Approve, on an advisory basis, executive compensation
Approve the 2016 Long-Term Incentive Plan
Stockholder Proposal on Special Meetings
Stockholder Proposal on the Share Repurchase Program and Executive Compensation
51. All Rights Reserved.10 May 2016© 3M
Business Items
Elect the twelve directors identified in the 2016 Proxy Statement, each for a term of one
year
Ratify the appointment of PricewaterhouseCoopers LLP as 3M’s independent registered
public accounting firm for 2016
Approve, on an advisory basis, executive compensation
Approve the 2016 Long-Term Incentive Plan
Stockholder Proposal on Special Meetings
Stockholder Proposal on the Share Repurchase Program and Executive Compensation
2016 AnnualMeeting
s
Board Nominees
Sondra L. Barbour
Thomas “Tony” K. Brown
Dr. Vance D. Coffman
David B. Dillon
Michael L. Eskew
Herbert L. Henkel
Muhtar Kent
Edward M. Liddy
Gregory R. Page
Inge G. Thulin
Robert J. Ulrich
Patricia A. Woertz
54. All Rights Reserved.10 May 2016© 3M
Business Items
Elect the twelve directors identified in the 2016 Proxy Statement, each for a term of one
year
Ratify the appointment of PricewaterhouseCoopers LLP as 3M’s independent registered
public accounting firm for 2016
55. All Rights Reserved.10 May 2016© 3M
Business Items
Elect the twelve directors identified in the 2016 Proxy Statement, each for a term of one
year
Ratify the appointment of PricewaterhouseCoopers LLP as 3M’s independent registered
public accounting firm for 2016
Approve, on an advisory basis, executive compensation
56. All Rights Reserved.10 May 2016© 3M
Business Items
Elect the twelve directors identified in the 2016 Proxy Statement, each for a term of one
year
Ratify the appointment of PricewaterhouseCoopers LLP as 3M’s independent registered
public accounting firm for 2016
Approve, on an advisory basis, executive compensation
Approve the 2016 Long-Term Incentive Plan
57. All Rights Reserved.10 May 2016© 3M
Business Items
Elect the twelve directors identified in the 2016 Proxy Statement, each for a term of one
year
Ratify the appointment of PricewaterhouseCoopers LLP as 3M’s independent registered
public accounting firm for 2016
Approve, on an advisory basis, executive compensation
Approve the 2016 Long-Term Incentive Plan
Stockholder Proposal on Special Meetings
58. All Rights Reserved.10 May 2016© 3M
Business Items
Elect the twelve directors identified in the 2016 Proxy Statement, each for a term of one
year
Ratify the appointment of PricewaterhouseCoopers LLP as 3M’s independent registered
public accounting firm for 2016
Approve, on an advisory basis, executive compensation
Approve the 2016 Long-Term Incentive Plan
Stockholder Proposal on Special Meetings
Stockholder Proposal on the Share Repurchase Program and Executive Compensation
59. All Rights Reserved.10 May 2016© 3M
Business Items
Elect the twelve directors identified in the 2016 Proxy Statement, each for a term of one
year
Ratify the appointment of PricewaterhouseCoopers LLP as 3M’s independent registered
public accounting firm for 2016
Approve, on an advisory basis, executive compensation
Approve the 2016 Long-Term Incentive Plan
Stockholder Proposal on Special Meetings
Stockholder Proposal on the Share Repurchase Program and Executive Compensation
2016 AnnualMeeting
s
Please Stand to Request a Ballot
2016 AnnualMeeting
s
Questionsand Comments
s
Please Give YourName and City
2016 AnnualMeeting
s
Preliminary Voting Results
67. All Rights Reserved.10 May 2016© 3M
Business Items
Elect the twelve directors identified in the 2016 Proxy Statement, each for a term of one
year
68. All Rights Reserved.10 May 2016© 3M
Business Items
Elect the twelve directors identified in the 2016 Proxy Statement, each for a term of one
year
Ratify the appointment of PricewaterhouseCoopers LLP as 3M’s independent registered
public accounting firm for 2016
69. All Rights Reserved.10 May 2016© 3M
Business Items
Elect the twelve directors identified in the 2016 Proxy Statement, each for a term of one
year
Ratify the appointment of PricewaterhouseCoopers LLP as 3M’s independent registered
public accounting firm for 2016
Approve, on an advisory basis, executive compensation
70. All Rights Reserved.10 May 2016© 3M
Business Items
Elect the twelve directors identified in the 2016 Proxy Statement, each for a term of one
year
Ratify the appointment of PricewaterhouseCoopers LLP as 3M’s independent registered
public accounting firm for 2016
Approve, on an advisory basis, executive compensation
Approve the 2016 Long-Term Incentive Plan
71. All Rights Reserved.10 May 2016© 3M
Business Items
Elect the twelve directors identified in the 2016 Proxy Statement, each for a term of one
year
Ratify the appointment of PricewaterhouseCoopers LLP as 3M’s independent registered
public accounting firm for 2016
Approve, on an advisory basis, executive compensation
Approve the 2016 Long-Term Incentive Plan
Stockholder Proposal on Special Meetings
Stockholder Proposal on the Share Repurchase Program and Executive Compensation
72. All Rights Reserved.10 May 2016© 3M
s
The Meeting isadjourned.
Thanks for your attendance!