3M, a global leader in innovation and materials science, is a household name known for its diverse portfolio of products, ranging from Post-it Notes to advanced industrial technologies. As one of the largest multinational companies, 3M plays a critical role in driving innovation across industries, including healthcare, electronics, and consumer goods.
At the helm of this iconic company is William “Bill” M. Brown, who became the CEO of 3M on May 1, 2024. Brown’s leadership comes at a pivotal time for the company as it navigates legal challenges, restructures its operations, and executes a major spin-off of its healthcare business. In this blog, we’ll take a deep dive into William Brown’s salary, net worth, and leadership, providing insights into how his compensation aligns with 3M’s performance and industry trends.
About 3M Company
3M is a global conglomerate that has been a pioneer in materials science and manufacturing for over a century. Known for its innovative solutions, 3M serves a variety of industries, including automotive, healthcare, electronics, and personal safety.
Key Facts About 3M:
- Revenue: Approximately $25 billion annually as of 2024.
- Global Presence: Operations in over 70 countries with products sold in more than 200 countries.
- Product Portfolio: Over 60,000 products, including adhesives, abrasives, personal protective equipment, and consumer goods like Scotch Tape and Post-it Notes.
3M is also recognized for its commitment to sustainability, with initiatives aimed at reducing carbon emissions, improving energy efficiency, and creating environmentally friendly products.
Who is William “Bill” M. Brown?
Professional Background
William “Bill” M. Brown assumed the role of 3M CEO in May 2024 and was named Chairman of the Board in March 2025, succeeding Michael F. Roman. Brown brings decades of leadership experience in global companies, particularly in the aerospace, defense, and manufacturing sectors.
Before joining 3M, Brown served as:
- Chairman and CEO of L3Harris Technologies: A global leader in aerospace and defense technology.
- Chairman and CEO of Harris Corporation: He led the company through its merger with L3 Technologies in 2019.
- Executive Roles at United Technologies: Brown spent 14 years in various leadership positions at the multinational conglomerate.
Education and Affiliations
- Bachelor’s and Master’s Degrees in Mechanical Engineering from Villanova University.
- MBA from The Wharton School, University of Pennsylvania.
- Member of prominent organizations, including the US-China Business Council, Business Roundtable, and The Business Council.
- Serves on the board of Becton, Dickinson and Company, a leading global medical technology company.
Brown’s extensive experience in leading large, complex organizations has equipped him to navigate 3M through challenges and drive its next phase of growth.
3M CEO Salary Breakdown
William M. Brown’s compensation package reflects his leadership role at 3M, a company undergoing significant transformation. For the 2024 fiscal year, Brown’s total compensation was approximately $21.19 million.
Key Components of William Brown’s Compensation (2024):
- Base Salary:
- Brown’s base salary is $1.8 million, accounting for 8.5% of his total compensation.
- Hiring Bonus:
- Upon joining 3M, Brown received a $3 million hiring bonus, which is a common practice for attracting experienced executives.
- Long-Term Incentives (Equity Awards):
- The majority of Brown’s pay—approximately $13 million—comes from equity awards.
- These stock options and awards are tied to 3M’s long-term performance and shareholder value.
- Annual Incentive Target:
- Brown’s annual incentive target is $3.15 million, which is performance-based and tied to the company’s financial and operational goals.
- Other Benefits:
- Additional perks include retirement contributions, health insurance, and executive allowances, which are a standard part of executive compensation packages.
Comparison to Previous CEO Michael F. Roman
- Michael F. Roman, who served as 3M’s CEO until April 2024, received a total compensation of $16.9 million during his final year.
- Brown’s pay is significantly higher, reflecting the increased responsibilities of leading 3M through a period of restructuring and legal challenges.
William Brown’s Net Worth
Estimated Net Worth
William M. Brown’s net worth is estimated to be between $70 million and $100 million, based on his career earnings, stock holdings, and other investments.
- Stock Holdings:
- Brown’s equity awards at 3M are a significant contributor to his net worth.
- As of 2024, he holds substantial shares in 3M, which are expected to grow in value as the company implements its restructuring plans.
- Career Earnings:
- Brown has earned competitive compensation packages throughout his career, including his tenure as CEO of L3Harris Technologies and Harris Corporation.
- Other Investments:
- Brown likely has additional investments and assets that contribute to his overall wealth, including real estate and other financial assets.
Comparison to Industry Peers:
- Darius Adamczyk (Honeywell CEO): Estimated net worth of $75–$90 million, with annual compensation of $20 million.
- H. Lawrence Culp Jr. (General Electric CEO): Estimated net worth of $100–$120 million, with annual compensation of $22 million.
- Jim Fitterling (Dow Inc. CEO): Estimated net worth of $50–$70 million, with annual compensation of $18 million.
Brown’s net worth is competitive within the industrial and manufacturing sector, reflecting his extensive leadership experience and contributions to 3M’s success.
CEO Pay Ratio and Industry Context
CEO-to-Median Employee Pay Ratio
The CEO-to-median employee pay ratio at 3M highlights the disparity between executive and employee compensation. For example:
- William Brown (2024): Pay ratio of approximately 220:1, compared to the median employee salary.
This ratio is slightly higher than the industry average, reflecting 3M’s size and complexity.
Comparison to Industry Peers:
- Honeywell CEO Pay Ratio: Approximately 200:1.
- General Electric CEO Pay Ratio: Approximately 250:1.
- Siemens CEO Pay Ratio: Approximately 230:1.
3M’s CEO pay ratio is in line with other large industrial companies, showcasing the competitive nature of executive compensation in the sector.
Factors Influencing 3M CEO Compensation
1. Corporate Restructuring
- Brown’s leadership during the spin-off of 3M’s healthcare business has been a significant factor in his compensation.
- His ability to manage this complex restructuring while maintaining the company’s financial stability is a key driver of his performance-based pay.
2. Legal Challenges
- 3M has faced major legal challenges, including PFAS-related lawsuits and settlements regarding defective earplugs.
- Brown’s role in resolving these issues and safeguarding the company’s reputation has been critical to his compensation.
3. Financial Performance
- 3M’s financial performance, including revenue growth and profitability, directly impacts Brown’s performance-based bonuses and equity awards.
4. Innovation and Sustainability
- 3M’s focus on research and development, as well as its commitment to sustainability, are key priorities for Brown.
- His ability to drive innovation while reducing the company’s environmental impact influences his pay structure.
Public Perception and Transparency in CEO Pay
Public Opinion on CEO Pay
- Supporters’ Perspective: Many believe Brown’s compensation is justified, given the complexity of leading a global company like 3M through a challenging period.
- Critics’ Perspective: Some argue that high CEO pay contributes to income inequality, particularly in industries with legal and environmental challenges.
Transparency in Compensation
3M provides detailed disclosures about executive pay in its annual reports and proxy statements, ensuring accountability and alignment with shareholder interests.
3M’s Financial Performance and CEO Pay
Under William Brown’s leadership, 3M has focused on restructuring and innovation to maintain its market position. Key financial highlights include:
- Revenue: Approximately $25 billion annually.
- Global Operations: Continued expansion into international markets and new product categories.
- R&D Investments: Significant spending on research and development to drive innovation and sustainability.
Brown’s compensation is closely tied to these achievements, reflecting his role in driving 3M’s success.
Future Outlook for 3M CEO Compensation
William Brown’s compensation is expected to remain competitive as 3M continues to evolve. Key factors influencing his future earnings include:
- Healthcare Spin-Off:
- The successful separation of 3M’s healthcare business will play a significant role in determining Brown’s performance-based incentives.
- Sustainability Goals:
- Brown’s leadership in achieving 3M’s environmental targets, including reducing PFAS emissions, will impact his pay.
- Innovation and Growth:
- Continued investment in research and development to create new products and expand into emerging markets will influence Brown’s compensation.
- Legal and Regulatory Challenges:
- Resolving ongoing legal issues, such as PFAS lawsuits, will remain a critical factor in determining Brown’s pay structure.
Key Takeaways
- Current CEO: William “Bill” M. Brown became the CEO of 3M in May 2024 and chairman in March 2025, earning a total compensation of approximately $21.19 million in 2024.
- Equity-Focused Pay: Over 94% of Brown’s pay comes from stock options and bonuses, aligning his incentives with 3M’s long-term performance.
- Net Worth: Brown’s estimated net worth is $70–$100 million, driven by his salary, stock holdings, and career earnings.
- Leadership Challenges: Brown’s compensation reflects his role in leading 3M through restructuring, legal challenges, and a major healthcare spin-off.
- Industry Comparison: Brown’s pay is competitive with other industrial sector CEOs, such as leaders of Honeywell, General Electric, and Dow Inc.
Conclusion
William “Bill” M. Brown’s leadership at 3M comes at a critical time for the company, as it undergoes significant changes and addresses major challenges. His $21.19 million compensation package reflects the immense responsibility of leading a global innovation powerhouse like 3M.