Gregory Lucier
AvantorAbout Gregory T. Lucier
Gregory T. Lucier joined Avantor’s Board of Directors in October 2025 and is described by the company as an independent director with three decades of life sciences leadership. He is Executive Chairman and CEO of Corza Medical, previously served as Chairman/CEO of NuVasive and Life Technologies, and began his career at GE; he holds a BS in industrial engineering (Penn State) and an MBA (Harvard). Tenure at AVTR began October 1, 2025 per company disclosures.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Life Technologies (formerly Invitrogen) | Chairman & CEO | 2003–2014 | Grew Invitrogen to >$4B revenue; led sale to Thermo Fisher in 2014 |
| NuVasive | Chairman & CEO | 2015–2021 | Led minimally invasive spine/orthopedic leader |
| General Electric (GE) | Corporate officer (various executive roles) | Early career | Multiple leadership roles |
External Roles
| Organization | Role | Since | Committees/Notes |
|---|---|---|---|
| Corza Medical (private) | Executive Chairman & CEO | 2021 | Founder; surgical technologies/components |
| Dentsply Sirona (XRAY) | Chairman of the Board | — | Corporate Governance & Nominating Committee member |
| Maravai LifeSciences (MRVI) | Director | — | Board member |
Board Governance
- Independence: Avantor states Lucier’s independence on its Board page; Avantor determines director independence annually under NYSE and company guidelines.
- Committee assignments at AVTR: Not disclosed in the October 2025 appointment announcement or 8‑K; no committee listing in 2025 proxy (record date March 14, 2025).
- Attendance and engagement: Avantor expects directors to attend all Board and committee meetings; the Board met five times in 2024 and each director attended ≥75% of meetings (pre‑Lucier). Executive sessions of independent directors occur at most Board meetings.
- Governance practices: Majority voting, proxy access, special meeting rights, annual self‑evaluations, and prohibitions on hedging/short sales/margin/pledging for directors/officers.
Fixed Compensation
| Element | Amount | Notes |
|---|---|---|
| Annual Cash Retainer | $95,000 | Paid quarterly in arrears |
| Annual Equity Award (RSUs) | $210,000 | Vests in full on first anniversary; pro‑rated for partial years; double‑trigger vesting on change in control |
| Chairman Cash Retainer | $170,000 | Not applicable to Lucier unless designated Chairman |
| Committee Chair Retainers | Audit & Finance: $25,000; Compensation & HR: $20,000; Nominating & Governance: $15,000 | |
| Committee Member Retainers | Audit & Finance: $12,500; Compensation & HR: $10,000; Nominating & Governance: $7,500 | |
| Expense Reimbursement | Reasonable travel/lodging | Standard director policy |
| Deferred Compensation (Director Equity) | Optional deferral of equity awards | Payable after 5 or 10 years or upon Board service termination; dividends reinvested notionally |
Compensation structure changes: In 2024, Avantor increased director cash/equity and committee retainers versus 2023 (Cash: $75k→$95k; Equity: $200k→$210k; committee fees increased).
Performance Compensation
- Directors do not receive performance‑based cash incentives; equity grants are time‑based RSUs vesting after one year and subject to double‑trigger change‑in‑control vesting.
Other Directorships & Interlocks
| Company | Relationship to AVTR | Potential Interlock/Conflict Considerations |
|---|---|---|
| Dentsply Sirona | Dental devices/materials | Different segment; any transactions would be reviewed under AVTR’s Related Person Transaction Policy; none disclosed in 2024–2025 proxies. |
| Maravai LifeSciences | Reagents/bioprocess | Adjacent to AVTR end‑markets; AVTR’s policy requires Audit & Finance Committee review of related‑party transactions; none disclosed in 2024–2025 proxies. |
| Corza Medical | Surgical technologies | Private; independence is assessed annually; any material transactions would fall under AVTR policy. |
Expertise & Qualifications
- Life sciences operating leadership (CEO roles at Life Technologies, NuVasive; CEO/Chairman at Corza), M&A and portfolio transformation, and healthcare manufacturing/supply chains.
- Education: BS Industrial Engineering (Penn State); MBA (Harvard).
Equity Ownership
- Director stock ownership guidelines require 5x the base annual cash retainer within five years of appointment; new directors are afforded the full five‑year compliance period. Hedging, short sales, margin accounts, and pledging are prohibited absent pre‑clearance (pledging generally prohibited).
- Beneficial ownership details for Lucier were not included in the March 2025 proxy (joined Oct 2025); expected to be disclosed in the next proxy cycle.
Governance Assessment
- Board effectiveness: Lucier adds deep operating, M&A and life‑sciences manufacturing expertise aligned with AVTR’s Lab Solutions and Bioscience Production segments; complements new Science & Technology oversight established in 2024.
- Independence and conflicts: Avantor’s annual independence review and robust related‑party transaction policy mitigate potential conflicts arising from Lucier’s external roles; no related‑party transactions disclosed involving his current boards in the 2024–2025 proxies.
- Alignment: Director pay is primarily equity‑based RSUs and subject to stock ownership guidelines; hedging/pledging prohibitions further align incentives.
- Attendance and engagement: Clear expectations (≥75% attendance and full participation); 2024 Board met five times with strong attendance; Lucier’s attendance to be evaluated in subsequent proxies.
Compensation Structure Analysis
| Metric | 2023 | 2024+ (current) |
|---|---|---|
| Annual Cash Retainer ($) | 75,000 | 95,000 |
| Annual Equity Award ($) | 200,000 | 210,000 |
| Audit & Finance Chair ($) | 20,000 | 25,000 |
| Compensation & HR Chair ($) | 15,000 | 20,000 |
| Nominating & Governance Chair ($) | 10,000 | 15,000 |
| Audit & Finance Member ($) | 10,000 | 12,500 |
| Compensation & HR Member ($) | 7,500 | 10,000 |
| Nominating & Governance Member ($) | 5,000 | 7,500 |
Implications: The 2024 increase raised equity weighting and committee retainers, improving pay-for-service alignment and potentially enhancing director engagement; equity remains time‑based without performance metrics, consistent with market practice for outside directors.
Related Party Transactions & Red Flags
- Policy: Audit & Finance Committee reviews related‑party transactions; directors complete annual questionnaires; conflicted committee members recuse.
- 2024–2025 disclosures: No related‑party transactions involving directors with material interest; Board conducted spending reviews for entities tied to other directors (e.g., Tessera, GRAIL, UCB, UC San Diego), but none material were reported.
- RED FLAGS: None disclosed specific to Lucier to date. Avantor prohibits hedging/short sales/margin/pledging; maintains clawback policies and majority voting with resignation policy for incumbents not receiving requisite votes.
Say‑on‑Pay & Shareholder Feedback
- Say‑on‑Pay support: 93% approval in 2024; Compensation & HR Committee engaged investors and implemented enhancements (free cash flow and operating income metrics in ICP; double‑trigger equity vesting). While executive pay, such results reflect broader governance confidence.
Employment & Contracts
- Indemnification: Avantor maintains indemnification agreements for directors to the fullest extent under Delaware law; no pending material litigation involving any directors seeking indemnification as of the 2025 proxy.
Risk Oversight & Committees (Context)
- Board risk oversight via ERM reviews; committee responsibilities include Audit (financial integrity, compliance, cybersecurity), Compensation (talent, culture, pay programs including sustainability linkage), Nominating & Governance (board structure, sustainability/ESG). Lucier’s future committee placement was not disclosed at appointment.
Overall, Lucier’s addition is a governance-positive signal for AVTR given his operational track record and strategic portfolio experience, with independence and conflict safeguards in place. Monitoring future committee assignments, equity ownership progress (5x retainer), and any related‑party transactions remains prudent for investors.