Summary
Amgen Inc. (AMGN) announced a key leadership transition in its finance department, effective August 14, 2023. Matthew C. Busch has been appointed as the new Vice President, Finance and Chief Accounting Officer (CAO), stepping into the role of principal accounting officer. This appointment is part of the company's leadership development initiatives, with the current CAO, Linda H. Louie, transitioning to Vice President, Finance, focusing on corporate financial planning and analysis. Mr. Busch has a long tenure at Amgen, having served in various finance and accounting roles since 2004, and most recently as Vice President, Finance. His compensation package for the CAO role includes a base salary of $450,000, an annual bonus target of 40% of his base salary, and an annual long-term incentive equity award valued at $500,000. This change appears to be a planned internal promotion aimed at fostering talent within the organization.
Key Highlights
- 1Matthew C. Busch appointed as Vice President, Finance and Chief Accounting Officer (CAO) effective August 14, 2023.
- 2Linda H. Louie, current CAO, will transition to Vice President, Finance, focusing on financial planning and analysis.
- 3Mr. Busch has been with Amgen since 2004, holding various finance and accounting positions, including his recent role as Vice President, Finance.
- 4The new CAO role for Mr. Busch is effective August 14, 2023.
- 5Mr. Busch will serve as Amgen's principal accounting officer.
- 6Mr. Busch's compensation as CAO includes an annual base salary of $450,000, a 40% annual bonus target, and a $500,000 annual long-term incentive equity award.