Summary
Regeneron Pharmaceuticals, Inc. (REGN) announced a key executive change in a Form 8-K filing on September 12, 2013. Effective September 9, 2013, Robert E. Landry was appointed Senior Vice President of Finance and Deputy Chief Financial Officer, with a planned transition to Chief Financial Officer (CFO) on October 1, 2013. This appointment brings a seasoned executive with significant financial leadership experience from Pfizer Inc. to Regeneron. The filing also details Mr. Landry's compensation package, which includes a base salary of $500,000, an annual bonus target, a sign-on bonus, and equity awards in the form of stock options and restricted stock. Concurrently, the current CFO, Murray A. Goldberg, will transition to a new role as Senior Vice President, Administration and Assistant Secretary, and is expected to remain with the company through the end of 2014. This strategic leadership change aims to bolster the company's financial operations as it continues its growth and development.
Key Highlights
- 1Appointment of Robert E. Landry as Senior Vice President of Finance, Deputy CFO, effective September 9, 2013.
- 2Robert E. Landry to assume the role of Chief Financial Officer (CFO) on October 1, 2013.
- 3Mr. Landry brings extensive financial experience from his previous roles at Pfizer Inc.
- 4Mr. Landry's compensation includes an annual base salary of $500,000 and an annual bonus target of 45% of base salary.
- 5Equity awards for Mr. Landry include options to purchase 80,000 shares and 5,000 restricted shares.
- 6Current CFO, Murray A. Goldberg, will transition to Senior Vice President, Administration and Assistant Secretary, staying through the end of 2014.