Summary
Regeneron Pharmaceuticals, Inc. (REGN) has announced a planned succession in its finance leadership team. Effective February 5, 2024, following the filing of their 2023 Form 10-K, Christopher Fenimore will be appointed as Senior Vice President, Finance and Chief Financial Officer, succeeding the retiring Robert E. Landry. Concurrently, Jason Pitofsky will be promoted to Vice President, Controller. This transition is part of a previously disclosed CFO succession plan. Mr. Fenimore, with extensive experience within Regeneron and prior roles in the biotech and finance sectors, will see his 2024 base salary adjusted to $660,000 and received a significant equity award in December 2023 valued at $5 million. Mr. Pitofsky's appointment to Controller is a promotion from his previous role as VP, Accounting and Financial Reporting, with no immediate changes to his compensation. Investors can view this as a continuation of internal talent development and a structured handover of critical financial oversight.
Key Highlights
- 1CFO Succession: Christopher Fenimore appointed as new Chief Financial Officer, succeeding retiring CFO Robert E. Landry.
- 2Internal Promotion: Fenimore has a long tenure at Regeneron, having served as SVP, Controller since 2021.
- 3Key Date: New CFO and Controller appointments are effective the day after Regeneron files its 2023 Form 10-K, expected on February 5, 2024.
- 4New CFO Compensation: Fenimore's 2024 base salary increased to $660,000.
- 5Significant Equity Grant for CFO: Fenimore received an equity award in December 2023 with a target grant date fair value of $5,000,000.
- 6Controller Appointment: Jason Pitofsky promoted to Vice President, Controller from VP, Accounting and Financial Reporting.
- 7No Compensation Change for Controller: Jason Pitofsky's compensation remains unchanged upon his appointment as Controller.