8-KLeadership Changes

BIOGEN INC. 8-K Report, Executive Changes (Jan 15, 2025)

Filed January 15, 2025For Securities:BIIB

Summary

Biogen Inc. has announced a key leadership transition in its finance department, effective March 1, 2025. Sean Godbout has been appointed as the new Vice President, Chief Accounting Officer & Global Corporate Controller, and will also serve as the Company's principal accounting officer. This appointment is part of a broader leadership evolution within the finance team, as Robin Kramer, the current Chief Accounting Officer, transitions to the role of Chief Financial Officer upon the retirement of Michael McDonnell on the same date. Mr. Godbout brings extensive experience to his new role, having been with Biogen since 2007 and most recently serving as Global Corporate Controller. His compensation package includes a base salary of $400,000, eligibility for an annual bonus plan, and long-term incentive grants. The filing also outlines the severance benefits Mr. Godbout is entitled to under the company's executive severance plan for Vice Presidents, which includes provisions for termination without cause and in connection with a corporate change of control. Investors should note this as a routine but important update regarding financial leadership continuity.

Key Highlights

  • 1Sean Godbout appointed VP, Chief Accounting Officer & Global Corporate Controller, effective March 1, 2025.
  • 2Mr. Godbout designated as Biogen's principal accounting officer.
  • 3Robin Kramer transitions from Chief Accounting Officer to Chief Financial Officer.
  • 4Michael McDonnell, current CFO, will retire effective March 1, 2025.
  • 5Mr. Godbout has been with Biogen since 2007, with prior experience at PricewaterhouseCoopers LLP.
  • 6Godbout's compensation includes a $400,000 base salary and a target bonus of 40% of base salary.
  • 7Severance benefits for Mr. Godbout are outlined, providing for termination without cause and in change of control scenarios.

Frequently Asked Questions

Sean Godbout has been appointed as Biogen's new Vice President, Chief Accounting Officer & Global Corporate Controller, and will also serve as the Company's principal accounting officer, effective March 1, 2025. He has been with Biogen since 2007 and previously held positions such as Global Corporate Controller and Corporate Controller.

This appointment is part of a broader finance leadership transition. Robin Kramer, currently Chief Accounting Officer, will assume the role of Chief Financial Officer. This change occurs as the current Chief Financial Officer, Michael McDonnell, retires on March 1, 2025, the same effective date for Mr. Godbout's new role and Ms. Kramer's promotion.

Mr. Godbout will receive a base salary of $400,000. He is also eligible to participate in the Company's annual bonus plan with a target bonus of 40% of his annual base salary. Additionally, he will receive long-term incentive grants in accordance with company plans.

Under Biogen's executive severance plan for Vice Presidents, Mr. Godbout is entitled to severance payments ranging from a minimum of 6 months to a maximum of 12 months of his then-annual base salary and target annual bonus in the event of termination without cause. In the event of a termination without cause or an involuntary employment action within two years following a corporate transaction or change in control, he is entitled to one times his then-annual base salary plus target annual bonus. Medical and dental benefits continuation is also provided if severance is payable.