Joseph Bishop
Arbutus BiopharmaAbout Joseph Bishop
Joseph Bishop (age 50) is an independent director of Arbutus Biopharma (ABUS) since February 2025; he serves as Audit Committee Chair and is designated an SEC “audit committee financial expert.” He is Senior Vice President, Finance at Roivant Sciences (since April 2024), and previously VP, Finance at Roivant (2018–2024); earlier roles include portfolio management positions at Pine River, Citadel, and Intrepid Capital Management. He holds a B.S. in Mechanical Engineering from MIT. Independence was affirmatively determined by the Board, with specific consideration of his Roivant affiliation.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Roivant Sciences | SVP, Finance | Apr 2024–present | Oversees financial governance/operations across Vants |
| Roivant Sciences | VP, Finance | Jul 2018–Mar 2024 | CFO for Vants (Pulmovant, Telavant); financial governance |
| Pine River Capital Management | Head of Equities, Portfolio Manager | 2013–2017 | Led equities; portfolio management |
| Citadel Investment Group | Portfolio Manager | 2010–2012 | Portfolio management |
| Intrepid Capital Management | Senior Managing Director & Portfolio Manager | 2001–2010 | Portfolio management leadership |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Roivant Sciences | SVP, Finance | Apr 2024–present | Finance leadership across subsidiaries (Vants) |
| Pulmovant; Telavant (Roivant subsidiaries) | CFO | During 2018–2024 period | Financial governance and operations |
| Public company boards | None disclosed | — | — |
Board Governance
- Committee assignments: Audit (Chair), Compensation (member), Corporate Governance & Nominating (member).
- Independence: Board determined Bishop is independent under SEC/Nasdaq/Canadian rules; independence review considered his affiliation with Roivant (>5% holder).
- Board leadership: CEO (Lindsay Androski) serves concurrently as Chair; there is no Lead Independent Director.
- Attendance/engagement baseline: In 2024, the Board met 9 times; Audit 4, Compensation 4, Governance 3; all directors serving then met ≥75% attendance, though current directors (including Bishop) were not on the Board at that time.
Fixed Compensation
| Component | Policy Amount | Bishop Status |
|---|---|---|
| Annual cash retainer (non-exec director) | $40,000; Chair of Board $75,000 | Waived all director compensation |
| Audit Committee chair fee | $20,000 | Waived |
| Compensation Committee chair fee | $15,000 | Not chair; waived |
| Corporate Governance chair fee | $10,000 | Not chair; waived |
| Audit Committee member | $10,000 | Waived |
| Compensation Committee member | $7,500 | Waived |
| Governance Committee member | $5,000 | Waived |
| Expense reimbursement | Reasonable travel/lodging | Eligible generally |
- Bishop and fellow Roivant executive director Matthew Gline agreed to waive all director compensation (cash and equity).
Performance Compensation
| Equity Type | Grant Policy | Vesting | Bishop Status |
|---|---|---|---|
| Initial option grant (new directors) | 157,600 options (effective Apr 2025; previously 134,000 in 2024) | Vests 1/3 on 1st, 2nd, 3rd anniversaries | Waived |
| Annual option grant (non-exec directors) | 78,800 options (effective Apr 2025; previously 67,000 in 2024) | Vests immediately | Waived |
- No director RSUs or performance metrics disclosed; director equity is option-based; Bishop waived all such awards.
Other Directorships & Interlocks
| Entity | Relationship | Details |
|---|---|---|
| Roivant Sciences Ltd. | Affiliation and major shareholder | Bishop is Roivant SVP, Finance; Roivant owns 38,847,462 ABUS shares (20.3%). |
| Genevant Sciences | Strategic LNP transaction | ABUS and Roivant formed Genevant in 2018; ongoing cross-licenses and economics create inter-company links. |
| ABUS Board | Another Roivant executive on Board | Matthew Gline (Roivant CEO) is an ABUS director; independence reviewed considering Roivant ties. |
Expertise & Qualifications
- SEC “audit committee financial expert”; financially literate per SEC/Nasdaq requirements.
- Deep finance leadership across life sciences ventures; prior hedge fund and multi-asset portfolio management experience.
- Engineering background (MIT), aligning with technical diligence for R&D-heavy biotech.
Equity Ownership
| Holder | Shares Beneficially Owned | % of Class | Notes |
|---|---|---|---|
| Joseph Bishop | — | * (<1%) | No ABUS shares reported as of Mar 24, 2025; 191,480,188 shares outstanding. |
| Hedging/Pledging | Prohibited | — | Company policy prohibits hedging and pledging by directors. |
Governance Assessment
- Strengths
- Audit chair with SEC “financial expert” designation; broad finance and control experience.
- Waiver of all director compensation reduces potential monetary conflicts and signals cost sensitivity.
- Clear prohibitions on hedging/pledging mitigate alignment and risk concerns.
- Watch items / RED FLAGS
- Significant affiliation with Roivant, a 20.3% shareholder and strategic counterparty (Genevant LNP agreements); Bishop chairs Audit amid related-party considerations—ongoing vigilance warranted.
- Combined CEO/Chair structure without a Lead Independent Director may weaken independent board oversight.
- Compensation consultant Radford (Aon unit) advised the Compensation Committee while another Aon business received insurance brokerage payments, a potential consultant independence concern.
- No director stock ownership guidelines disclosed for ABUS directors; Bishop reported no share ownership, limiting “skin-in-the-game.”
Overall: Bishop brings robust financial governance credentials and serves in key oversight roles. However, his Roivant affiliation combined with Roivant’s ownership and the Genevant arrangements elevates perceived conflict risk; strong committee process and transparent related-party oversight remain critical for investor confidence.