Seems unlike any past annual mtg in that only one question was posed at the Q&A section.
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Don’t forget that the board members were hand selected by Roman and now all report to him in his new role of Executive Chairman of the Board.
So the vote, while a bit embarrassing, is only a technical glitch.
On an advisory basis? In other words, Mike will give himself and Bill and Gibbons an additional 10 percent just because their feelings got hurt.
The vote is non-binding and the companies board (yes men & women)
Consider this in review process.
Watch he will get his money, just won’t hear about it.
May 14 (Reuters) - 3M (MMM.N), said on Tuesday that the annual compensation packages of certain executives, including that of former CEO Mike Roman, did not receive the requisite number of favorable shareholder votes, on an advisory basis.