Glonghui, May 15 | 3M said on Tuesday that the annual compensation plans of some executives, including former CEO Mike Roman, did not receive the necessary number of shareholders' approval. Roman's total compensation for 2023 was $16.4 million, while total compensation for 2022 was around $14 million, although the company is still dealing with the impact of multiple lawsuits and slowing sales. The company said in a statement that although the vote is not binding, the company's board of directors (including the Remuneration and Talent Committee) regards the results of the shareholders' meeting as one of the key inputs in the remuneration review process. Former Bill Brown succeeded Roman as CEO on May 1. Roman was re-elected as 3M's executive chairman. Brown took over after a period of what was viewed as poor financial performance. 3M attempted to mitigate poor financial performance by introducing major restructuring, including laying off thousands of employees and divesting its healthcare business into a publicly traded company.