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George Buckley

3M CEO 2012 Compensation More Than Doubles

3M Co. (MMM) said Chairman and Chief Executive Inge Thulin's 2012 compensation more than doubled after his promotion last year from chief operating officer.Mr. Thulin's salary, performance bonus, stock and options awards and executive perks totaled $14.8 million, compared with $5.36 million in 2011, according to 3M's annual proxy filed Wednesday with the U.S. Securities and Exchange Commission. George Buckley, who retired from the St. Paul, Minn., company June 1, received $7.92 million last year.Mr. Thulin, 59 years old, recorded big increases across all compensation categories, reflecting his elevation to CEO in February 2012. His base salary rose 63% to $1.22 million. His non-equity bonuses based on the performance of the industrial conglomerate rose to $1.99 million from $690,084 in 2011. He also received restricted stock shares and stock options worth $7 million on the day they were granted, compared with stock and options awards worth $2.4 million the year before.Executive perquis...

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