Ian T. Clark
BIOMARIN PHARMACEUTICALAbout Ian T. Clark
Independent non-employee director at BioMarin since August 1, 2025; appointed to the Audit Committee and the Science & Technology Committee. Former Chief Executive Officer of Genentech (2010–2016), where he oversaw 15 new drug launches; earlier held senior roles at Genentech and spent 23 years in senior positions at Novartis, Sanofi, Ivax, and G.D. Searle . BioMarin disclosed no related-party transactions and noted his independence upon appointment .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Genentech | Chief Executive Officer and Director | 2010–2016 | Led launch of 15 new drugs |
| Genentech (prior) | Senior management roles | Not disclosed | Commercial leadership prior to CEO |
| Novartis; Sanofi; Ivax; G.D. Searle | Senior roles | 23 years (combined) | Global commercial/leadership roles |
External Roles
| Organization | Role | Status/Notes |
|---|---|---|
| Olema Oncology | Director | Current board service |
| Takeda Pharmaceutical Company Ltd. | Director | Current board service |
| Kyverna Therapeutics, Inc. | Director | Current board service |
| Corvus Pharmaceuticals, Inc. | Director | Current board service |
| Guardant Health, Inc. | Director | Current board service |
| Forty Seven Inc.; Shire Pharmaceuticals, Inc.; Avrobio, Inc.; Kite Pharma, Inc. | Director (prior) | Prior public company boards |
| KKR & Co. Inc. | Advisor | Current advisor |
Board Governance
- Committee assignments: Audit Committee; Science & Technology Committee (effective August 1, 2025) .
- Independence: Appointed as an independent, non-employee director; company disclosed no related-party transactions for Mr. Clark at appointment .
- Tenure: Appointed to the Board on August 1, 2025 .
- Indemnification: Company intends to enter into standard director indemnification agreement with Mr. Clark .
- Board attendance: No individual attendance disclosed yet post-appointment. For context, in 2024 the Board met 10 times and each director attended ≥75% of meetings of the Board/committees on which they served (pre-dating Mr. Clark’s appointment) .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Base annual cash retainer (non-employee director) | $65,000 | Level shown in 2024 proxy; 2025 proxy states “no other changes” to director comp beyond listed committee updates, implying base unchanged . |
| Audit Committee – Member | $13,500 | Annual cash retainer |
| Science & Technology Committee – Member | $10,000 | Annual cash retainer |
| Independent Chair premium (if applicable) | $80,000 | Not applicable to Mr. Clark; shown for completeness |
| Other committee retainers (for reference) | CGN Chair/Member: $20,000/$10,000; Compensation Chair/Member: $24,000/$12,000; Transactions & Strategy Chair/Member: $26,500/$13,500 | 2025 updates reflected; if Mr. Clark later joins these committees, fees apply |
Mr. Clark will receive BioMarin’s standard non-employee director cash fees and applicable committee retainers .
Performance Compensation
| Equity Award | Value/Structure | Grant Date | Vesting | Notes |
|---|---|---|---|---|
| Pro-rata RSU grant upon appointment | $400,000 | Aug 1, 2025 | Vests on the date immediately prior to the next annual stockholders’ meeting | Granted under 2017 Equity Incentive Plan; per appointment 8-K . |
| Annual director RSU program (policy) | Fixed-value RSUs of $400,000; shares determined by 30-day trailing average price | Granted at annual meeting to re-elected directors | Vests in full immediately prior to the next annual meeting | Standard director equity structure; no options; promotes alignment . |
- No director-specific performance metrics: BioMarin’s director equity is time-based RSUs only; the company eliminated director stock options in 2017 .
Other Directorships & Interlocks
| Potential Interlock Area | Observation | Governance Control |
|---|---|---|
| Multiple concurrent public boards | Mr. Clark serves on boards of Olema Oncology, Takeda, Kyverna Therapeutics, Corvus Pharmaceuticals, Guardant Health (in addition to BioMarin) . | BioMarin limits service to ≤4 public company boards for directors without full-time jobs; non-executive chair roles count as two; a 6‑month transition period may apply when a private company becomes public . |
| Related-party transactions | Company stated none for Mr. Clark at appointment . | Audit Committee reviews and must pre-approve any related-party transactions per policy . |
RED FLAG (monitor): Based on disclosed current public directorships (5 external), Mr. Clark appears to exceed BioMarin’s public board service limit (≤4 for directors without full-time jobs). Confirm any transition plan or exemptions under the policy’s provisions (e.g., timing of appointments/changes in status) .
Expertise & Qualifications
- Credentials: Former Genentech CEO; deep commercialization and global biopharma operating experience; track record of 15 product launches; extensive public company board experience across oncology/biotech .
- Committee fit: Audit (oversight of financial reporting/risk) and Science & Technology (R&D, pipeline oversight) align with his operating and industry expertise .
Equity Ownership
| Item | Detail |
|---|---|
| Initial beneficial ownership (Form 3) | Reported no securities beneficially owned as of filing (Aug 5, 2025) . |
| RSU grant outstanding | Appointment RSU valued at $400,000 granted Aug 1, 2025; number of units not disclosed in 8-K; vests before next annual meeting . |
| Anti-hedging/pledging | Company prohibits hedging, short sales, and margin activities in BioMarin stock . |
| Director ownership guidelines | Directors required to hold stock equal to ≥5× cash retainer; policy applies to all directors . |
| Indemnification/POA | Standard indemnification intended; Power of Attorney for Section 16 filings executed June 9, 2025 . |
Insider Trades
| Date | Filing/Type | Shares | Price | Notes |
|---|---|---|---|---|
| Aug 5, 2025 | Form 3 (Initial Statement) | 0 | — | No securities beneficially owned at appointment . |
Governance Assessment
- Positives: Independent status; immediate placement on Audit and Science & Technology committees signals confidence in his financial oversight and R&D/commercial judgment; no related-party transactions disclosed; strong operator pedigree (ex-Genentech CEO with 15 launches) supportive of BioMarin’s strategic and pipeline oversight needs .
- Alignment: Standard director pay structure leans heavily to equity (fixed-value RSUs), with robust ownership guidelines (5× retainer) and anti-hedging/pledging prohibitions—supportive of shareholder alignment .
- Risks/Watch items:
- Overboarding risk: His concurrent public board commitments appear to exceed BioMarin’s limit for directors without full-time jobs; confirm remediation/transition timeline per policy (potential RED FLAG if unresolved) .
- Time-to-alignment: Form 3 showed no initial holdings; monitor progress toward ownership guideline compliance as equity vests .
- Conflicts: Given external roles at large biopharma/oncology companies, continue monitoring for any related-party dealings; Audit Committee pre-approval safeguards apply .
Overall, Mr. Clark brings high-value operating and commercial expertise to BioMarin’s Board with clear independence and alignment structures, though overboarding requires prompt clarification against BioMarin’s board service limits .