April 3, 2024:
In preparation for Novation's 70th Annual Meeting this Wednesday, April 10 at 10:30 am, we are providing our 2023 Annual Report for your review. We are pleased with our performance in 2023 and excited for the momentum that continues into 2024. Click here (or on the image below) for the entire Annual Report:
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As previously announced, four of our Board of Directors' positions are up for election in 2024. Please not that no petitions to run for the Board of Directors were received by the February 25, 2024 deadline.
Since nominations will not be accepted during the meeting, voting this year will be done by acclamation during the 70th Annual Meeting on April 10, 2024 at 10:30 a.m. As stated in our previous email on January 25, 2024, the Annual Meeting will be held virtutally.
The following have been nominated to serve three-year terms:
John Schwalbach (incumbent) – Global Bonding & Joining Lean Value Stream Director, Automotive & Aerospace Solutions Division at 3M
Mr. Schwalbach began his career at 3M in 1991 and served on the Supervisory Committee at Novation since 2005–2019 prior to being nominated to the Board of Directors. He attended the University of Wisconsin–Madison where he earned a Bachelor of Science degree in Mechanical Engineering.
Daryl Thoennes (incumbent) – Plant Director, 3M Aberdeen
Mr. Thoennes has been with 3M since 1997 and has served on the Novation Board of Directors since 2019. He attended Southwest Minnesota State University where he earned a Bachelor of Science degree in Business Management.
Bob Kody – Global Business Vice President, Advanced Wound Care at 3M (Solventum as of April 1, 2024)
Mr. Kody joined 3M in 1998. He has worked in multiple 3M business and corporate labs. Bob earned a Bachelor of Science degree in Mechanical Engineering from the University of Michigan; a Masters of Science and Ph.D. in Polymer Science and Engineering from the University of Massachusetts; and an Executive MBA from the University of Chicago, Booth School of Business.
Why are you interested in serving on the Novation Board of Directors?
My personal interest is two-fold. I want to learn how a credit union operates as a business model. This will assist in my personal growth. I also want to learn how a credit union recruits members, so that I can help drive membership of Solventum employees after the spin-off. This is particularly important for my current business, where most of the employees (formerly Acelity/KCI employees) live in Texas.
The following has been nominated to serve a two year term:
Michelle Nephew – Retired 3M Human Resources Leader
Ms. Nephew is recently retired from 3M. She has 35+ years of experience in a business atmosphere; 28 years in Human Resources. She earned a Bachelor of Science degree in Business Administration from St. Cloud University and Masters in Human Resources from the University of St. Thomas.
Why are you interested in serving on the Novation Board of Directors?
As I enter the retirement phase of life, I'm seeking opportunities to give back to a not-for-profit organization applying my business experience in a new organization.
Final details about how to connect and listen to this virtual event will be provided in March. Please continue to reference www.novation.org for further details.
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1/24/2024
In 2024, four of our Board of Director’s positions are up for election. The following have been nominated to serve three-year terms:
- John Schwalbach (incumbent) - Global Bonding & Joining Lean Value Stream Director, Automotive & Aerospace Solutions Division at 3M
- Daryl Thoennes (incumbent)– Plant Director, 3M Aberdeen
- Bob Kody - Global Business Vice President, Advanced Wound Care at 3M
The following has been nominated to serve a two year term:
- Michelle Nephew - Retired 3M Human Resources Leader
If you wish to be considered as a candidate for Novation’s Board of Directors outside the formal nominating committee process you must submit an official petition signed by 5% of the total membership. Petitions must be submitted by February 25, 2024, to Novation’s Supervisory Committee. Please note that nominations will not be accepted from the floor at the Annual Meeting. If you wish to run by petition, please call (800) 369-6628 to obtain the necessary forms. Voting instructions and statement of qualifications for each candidate will be available on our website and sent by email on February 26, 2024.