George W. Buckley was the CEO of 3M from 2005 to 2012. He holds a Ph.D. in Electrical Engineering from the University of Cambridge and has a strong engineering background, which he's applied to leading a company known for innovation....
George W. Buckley was the CEO of 3M from 2005 to 2012. He holds a Ph.D. in Electrical Engineering from the University of Cambridge and has a strong engineering background, which he's applied to leading a company known for innovation. Under his leadership, 3M continued to develop cutting-edge products across various industries, including safety and medical technologies. Buckley’s compensation reflected his influence on the company, peaking in 2010 with a total of about $23.7 million, made up of salary, stock awards, and bonuses. Interestingly, his compensation package included performance-driven incentives tied to the company's growth, ensuring he was aligned with shareholders' interests. During tough times, like the financial crisis in 2009, 3M adapted by changing how they awarded stock—swapping performance shares for restricted stock units to maintain morale and retention amongst executives. Buckley also had strategic foresight, restructuring his retirement benefits into a more specialized annuity, marking a proactive approach to financial planning. He was known for significant stock holdings, ensuring that he had a vested interest in the company’s long-term performance. Buckley’s time at 3M showcased how engineering and business acumen can merge to drive a company forward.