Lan Kang
AvantorAbout Lan Kang
Lan Kang, age 56, has served as an independent director of Avantor (AVTR) since April 2021 and is a member of the Compensation & Human Resources Committee. She became President and CEO of Azkarra Therapeutics in March 2025; previously she was Senior Managing Director and Head of Portfolio Management at CBC Group (Dec 2020–Apr 2024) and later Senior Managing Director Emeritus, Operating Partner (Apr 2024–Mar 2025). Earlier roles include Executive Board Director, Head of Fosun Insurance Group, and Chief Human Resources Officer at Fosun (2010–2019); Senior Client Partner at Korn Ferry; and Engagement Manager at McKinsey. Education: MBA in Healthcare Management (Wharton), MS in Chemistry (Tulane), BS in Biological Science & Technology (Zhejiang University) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Azkarra Therapeutics | President & CEO | Mar 2025–present | Biotech leadership; early-stage company CEO |
| CBC Group | Senior Managing Director & Head of Portfolio Management | Dec 2020–Apr 2024 | PE healthcare portfolio oversight |
| CBC Group | Senior Managing Director Emeritus, Operating Partner | Apr 2024–Mar 2025 | Operating partner role |
| Fosun International | Executive Board Director; Head of Fosun Insurance Group; CHRO | 2010–2019 | Human capital and insurance leadership |
| Korn Ferry International | Senior Client Partner | Prior to Fosun | Executive search/advisory |
| McKinsey & Company | Engagement Manager | Prior to Korn Ferry | Strategy consulting |
External Roles
| Organization | Role | Tenure/Status | Notes |
|---|---|---|---|
| I-MAB Biopharma | Non-executive director | Served within past five years; described as current in 2024 proxy | 2024 proxy notes “serves”; 2025 proxy frames as “served” in past five years |
| Everest Medicines | Non-executive director | Served until Jan 2024 | Board service ended Jan 2024 |
Board Governance
- Independence: Board affirmatively determined Kang is independent under NYSE and company guidelines; independent for committee service .
- Committees: Compensation & Human Resources Committee member (Committee membership: Michael Severino—Chair; Lan Kang; Gregory Summe) .
- Attendance: The Board met five times in 2024; each director attended at least 75% of Board and committee meetings on which they served .
- Governance policies: Prohibitions on short sales, hedging, margin accounts and pledging absent pre-clearance; robust stockholder rights (proxy access, majority voting), regular executive sessions of independent directors .
- Director ownership guidelines: 5x base annual cash retainer, compliance required within five years; as of Dec 31, 2024 all non-employee directors were in compliance or within the five-year window .
Fixed Compensation
Director Compensation Program Elements (2024):
| Compensation Element | Amount ($) |
|---|---|
| Annual Cash Retainer | 95,000 |
| Annual Equity Award (RSUs grant-date value) | 210,000 |
| Chairman Cash Retainer | 170,000 |
| Committee Chair Cash Retainer – Audit & Finance | 25,000 |
| Committee Chair Cash Retainer – Compensation & HR | 20,000 |
| Committee Chair Cash Retainer – Nominating & Governance | 15,000 |
| Committee Member Cash Retainer – Audit & Finance | 12,500 |
| Committee Member Cash Retainer – Compensation & HR | 10,000 |
| Committee Member Cash Retainer – Nominating & Governance | 7,500 |
Director Compensation (Actual, Lan Kang):
| Metric | 2023 | 2024 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | 82,882 | 105,000 |
| Stock Awards ($) | 199,985 | 209,975 |
| Total ($) | 282,867 | 314,975 |
Notes:
- Compensation structure was increased effective Jan 1, 2024 (cash retainers and equity grant values) following a review and approval by the Board on recommendation of FW Cook .
- Cash retainers are paid quarterly in arrears; RSUs vest time-based (see below) .
Performance Compensation
Director RSU Terms:
| Term | Detail |
|---|---|
| Vesting | RSUs vest in full on first anniversary of Vesting Start Date |
| Change-in-control | Unvested RSUs vest upon change in control if service continues until the event |
| Unvested RSUs held (as of Dec 31, 2024) | 8,477 units |
| Deferred compensation election | Directors may defer annual equity awards; payout after 5 or 10 years, or upon termination of Board service; dividends hypothetically reinvested during deferral |
Performance Metrics in Director Compensation:
| Metric | Applied to Director Compensation? | Notes |
|---|---|---|
| Financial/ESG performance metrics (e.g., revenue growth, EBITDA, TSR) | No | Non-employee director equity awards are time-based RSUs; no disclosed performance conditions |
Other Directorships & Interlocks
| Area | Detail |
|---|---|
| Other public boards (last five years) | I-MAB Biopharma (non-executive); Everest Medicines (non-executive, to Jan 2024) |
| Interlocks/transactions | Audit & Finance Committee oversees related person transactions per policy. For 2024 transactions, no related person had a direct or indirect material interest. Board reviewed overall spend with entities linked to other directors (Tessera, GRAIL, UCB, UCSD); no material related person interests disclosed . |
Expertise & Qualifications
- Healthcare/biopharma domain expertise; senior leadership including CHRO experience; finance, strategy, and international business transactions .
- Degrees: MBA (Wharton), MS Chemistry (Tulane), BS Biological Science & Technology (Zhejiang University) .
- Committee-relevant experience: Human capital and compensation oversight background, aligned with her Compensation & HR Committee role .
Equity Ownership
| Metric | Mar 3, 2025 (Proxy) | Apr 28, 2025 (Post-Form 4) |
|---|---|---|
| Shares beneficially owned | 21,738 | 35,215 (after 5,000-share open-market purchase) |
| Ownership % of outstanding | ~0.0032% (681,397,790 shares outstanding) | ~0.0052% (post-purchase) |
| Unvested RSUs (12/31/2024) | 8,477 | 8,477 |
| Hedging/pledging | Company policy prohibits hedging, short sales, margin accounts, and pledging absent pre-clearance | Company policy as at left |
Recent Insider Transaction (Lan Kang):
| Date | Transaction | Shares | Price | Total Value |
|---|---|---|---|---|
| Apr 28, 2025 | Open-market purchase | 5,000 | $12.57 | $62,850 |
Governance Assessment
- Independent director with Compensation & HR Committee membership; committee uses independent consultant FW Cook; the committee provides oversight for CEO pay, executive compensation, and director compensation—positive for pay governance rigor .
- Attendance threshold met (≥75% of Board and committee meetings in 2024); Board conducted five meetings—adequate engagement signal .
- Alignment: Open-market share purchase in April 2025 and compliance with 5x retainer ownership guideline support skin-in-the-game; RSU grant structure and prohibition on hedging/pledging further align interests .
- Conflicts: 2024 related person transactions review disclosed no material related person interests; no company transactions tied to Kang were flagged—low conflict risk signal .
- Watch items: As a sitting CEO (Azkarra) alongside AVTR board service, monitor time commitments against governance guidelines limiting board seats for executives; no current disclosure indicates overboarding, but continued oversight advisable .