Summary
Amgen Inc. (AMGN) announced a significant addition to its Board of Directors with the appointment of Michael V. Drake, effective August 3, 2022. Dr. Drake brings extensive leadership experience as the current President of the University of California, previously serving as President of The Ohio State University and Chancellor of the University of California, Irvine. His appointment strengthens the Board's expertise and contributes to its diversity of leadership backgrounds. Dr. Drake will immediately join the Corporate Responsibility and Compliance Committee and the Governance and Nominating Committee, enhancing the oversight capabilities of these critical areas. His compensation will be in line with the Company's standard director compensation structure, including a pro-rated annual retainer and committee meeting retainers, as well as a pro-rated grant of restricted stock units. This appointment is effective as the Company prepares for its second quarter earnings release.
Key Highlights
- 1Amgen appointed Michael V. Drake to its Board of Directors, effective August 3, 2022.
- 2Dr. Drake's background includes significant leadership roles, such as President of the University of California and President of The Ohio State University.
- 3He will serve on the Corporate Responsibility and Compliance Committee and the Governance and Nominating Committee.
- 4The Board will now comprise 13 directors, with 12 considered independent.
- 5Dr. Drake will receive standard pro-rated director compensation, including annual retainer, committee retainers, and restricted stock units.
- 6There are no disclosed related-party transactions or arrangements concerning Dr. Drake's appointment.