George W. Buckley

Sir George William Buckley (born 23 February 1947)[1] is a British businessman. He is the former chairman, president, and chief executive of 3M. He was named to these positions on 7 December 2005. He is the chairman of Ownership Capital B.V., chairman of Arle Capital LLP, chairman of Smiths Group plc, and chairman of Expro International.

Sir George W. Buckley
Born
George William Buckley

(1947-02-23) 23 February 1947
Sheffield, Yorkshire, England
NationalityBritish

Early life

George W. Buckley was born in Sheffield. He was raised by his crippled grandmother in Pitsmoor.[2]

Buckley was apprenticed as an electrician, eventually progressing to a BSc in electrical and electronic engineering at the University of Huddersfield.[3] He also holds a PhD in engineering studied jointly at the University of Huddersfield and the University of Southampton, and an honorary DSc in engineering from the University of Huddersfield.[4]

Career

In a 2009 letter to 3M shareholders, George W. Buckley discussed the actions he had taken in response to the economic climate, including cutting jobs. Buckley remarked that the layoffs that would number "as many as necessary but as few as possible," as well as how 3M "used furloughs, pay cuts, overtime bans, mandatory vacations and stringent incidental cost control to limit the number of layoffs, but in the end some were needed." He reassured shareholders that "In a 5% recession there is still 95% of the business left and winning an increasing share of that business has to be our focus."[5]

While CEO of 3M in 2008, Buckley earned a total compensation of $12,182,410; which included a base salary of $1,720,000; a cash bonus of $2,844,074; stocks granted of $4,002,421; options granted of $3,363,492; and other compensation of $252,423.[6] In 2009, George Buckley earned a total compensation of $13,992,628, which included a base salary of $1,720,000, a cash bonus of $3,859,112, stocks granted worth $4,333,655, options granted of $3,757,572, and other compensation of $322,289.[6]

Buckley was knighted in the 2011 Birthday Honours for services to industry.[7][8]

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References
  1. "Buckley, George W.". Current Biography Yearbook 2011. Ipswich, MA: H.W. Wilson. 2011. pp. 98–102. ISBN 9780824211219.
  2. Gale, Adam (July 19, 2017). "Sir George Buckley: From Sheffield slum to CEO of 3M". Management Today. Retrieved July 20, 2017.
  3. From humble beginnings Archived 2018-06-17 at the Wayback Machine, profile of George W. Buckley in The Sheffield Telegraph, 25 June 2013
  4. George W. Buckley, Chairman, President and Chief Executive Officer, 3m.com
  5. "The Most Candid CEO", The Motley Fool
  6. CEO Compensation for George W. Buckley Archived 2009-04-13 at the Wayback Machine, Equilar.com
  7. "No. 59808". The London Gazette (Supplement). 11 June 2011. p. 2.
  8. "The honours system - GOV.UK". Fco.gov.uk. Retrieved 2017-07-20.
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