Richard A. Meier
BIOMARIN PHARMACEUTICALAbout Richard A. Meier
Richard A. Meier, age 65, is the independent Chair of BioMarin’s Board, serving as a director since December 2006 and Chair since December 1, 2023. He is currently Chief Executive Officer and a director of TwinMed, LLC (private healthcare services), and brings deep finance, capital markets, and healthcare operations expertise; he holds a B.A. in Economics from Princeton University . The Board has affirmed that all current directors other than the CEO are independent, and it separated the Chair/CEO roles in 2023 to strengthen oversight; Meier is the independent Chair .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Rockley Photonics Holdings Ltd. (public; now private) | President & CEO (Dec 2022–May 2023); President & CFO (Oct–Dec 2022) | 2022–2023 | Led company through a restructuring; Rockley filed Chapter 11 in Jan 2023 and emerged as a private company in Mar 2023 . |
| Intersect ENT, Inc. (public, acquired by Medtronic) | EVP & CFO | Nov 2019–Jun 2022 | Finance leadership through sale to Medtronic . |
| Owens & Minor, Inc. (public) | EVP & CFO; later President–International | 2013–2018 | Expanded international operations; senior finance leadership . |
| TeleFlex Incorporated (public) | EVP & CFO | 2010–2012 | Corporate finance leadership . |
| Advanced Medical Optics (public; acquired by Abbott) | CFO; later President & COO | 2002–2009 | Senior operating/finance roles; company acquired by Abbott in 2009 . |
| Bausch Health (Valeant/ICN) (public) | EVP & CFO; SVP & Treasurer | 1998–2002 | Corporate finance leadership . |
| Schroder & Co. Inc.; prior roles at Salomon Smith Barney, Manufacturers Hanover, Australian Capital Equity, Greyhound Lines | Investment banking/finance executive | 1990s | Capital markets and corporate finance experience . |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| TwinMed, LLC (private) | Chief Executive Officer & Director | Current | Healthcare services leadership . |
| Syntellix AG (private) | Supervisory Board Member | Current | Medical technology governance . |
| Staar Surgical Inc. (public) | Director | 2009–2016 | Served on Governance, Compensation, and Audit Committees . |
Board Governance
- Independent Chair since Dec 1, 2023; Board separated Chair/CEO roles to enhance oversight and removed the prior Lead Independent Director role .
- Committee leadership: Chair, Transactions and Strategy Committee (established Oct 2024); members included Meier (Chair), Dere, Enyedy, Ho, and Pyott; 0 meetings in 2024 as newly formed .
- Board and committee independence: all standing committee members are independent; regular executive sessions of Independent Directors .
- Attendance: Board held 10 meetings in 2024; each director attended at least 75% of Board and committee meetings for which they served .
- ESG and risk oversight roles defined across committees; CGN Committee oversees ESG and governance policies; Audit oversees cybersecurity and financial controls; Compensation oversees human capital and incentive risk .
Fixed Compensation
| Element | Policy/Amount | 2024 Meier Actual |
|---|---|---|
| Independent Director Annual Cash Retainer | $65,000 | Included in Fees Earned . |
| Independent Chair Incremental Retainer | $80,000 | Included in Fees Earned . |
| Committee Cash Retainers | Audit: Chair $26,500; Member $13,500. Compensation: Chair $24,000; Member $12,000. CGN: Chair $20,000; Member $10,000. S&T: Chair $20,000; Member $10,000. Transactions & Strategy: Chair $26,500; Member $13,500 . | Included in Fees Earned . |
| Fees Earned or Paid in Cash (Meier) | — | $171,500 . |
Performance Compensation
| Component | Structure | Grant Date | Shares / Value | Vesting |
|---|---|---|---|---|
| Annual RSU to re-elected directors | Fixed value $400,000; number based on 30-day trailing avg price | Annual Meeting date (2024) | Part of Meier’s RSUs held (7,080 as of 12/31/2024 includes annual + one-time grant) | Full vesting immediately prior to next Annual Meeting (≈1 year), service-based . |
| One-time RSU (Independent Chair) | Additional $200,000 for CEO transition and strategy contributions | 2024 Annual Meeting | Included in Meier’s 2024 stock awards ($547,567) | Same as annual RSU vesting; service-based . |
Note: Non-employee director equity awards are time-based RSUs; there are no performance metrics (PSUs) for directors .
Other Directorships & Interlocks
- Current public company boards: None disclosed for Meier; prior public board at Staar Surgical (2009–2016) .
- CGN Committee reviews and approves outside board memberships to avoid conflicts; directors are independent and free of relationships impairing judgment .
- Related party transactions: None >$120,000 involving directors/officers since Jan 1, 2024 (other than previously disclosed consulting arrangements for the former CEO) .
Expertise & Qualifications
- Finance/accounting, capital markets; managing complex healthcare organizations; information technology .
- Governance and committee leadership experience (former Lead Independent Director 2015–2023; current independent Chair) .
Equity Ownership
| Metric | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Beneficial Shares Owned | 94,272 | 104,014 | 111,357 | 113,695 |
| Options/RSUs (vest/exercisable within 60 days) | 36,250 | 27,750 | 19,250 | 12,650 |
| Total Beneficial (Shares + Opt/RSUs) | 130,522 | 131,764 | 130,607 | 126,345 |
| % of Shares Outstanding | <1% | <1% | <1% | <1% |
| RSUs Held (12/31/2024) | — | — | 7,080 | — |
- Anti-hedging/anti-pledging policy prohibits short sales, options, hedging, and margin activities for directors .
- No pledging disclosed; guidelines require directors to hold stock equal to ≥5× cash retainers (compliance status not individually disclosed) .
Say-on-Pay & Shareholder Feedback
| Year | For | Against | Abstain | Broker Non-Votes |
|---|---|---|---|---|
| 2024 | 141,887,490 | 10,757,670 | 83,878 | 10,260,612 |
| 2025 | 155,351,652 | 10,227,321 | 597,277 | 10,064,270 |
- Board engages extensively with shareholders on governance and compensation; program features include clawbacks, no option repricing, and enhanced performance alignment (TSR-based awards for executives) .
Insider Trades
| Date | Type | Note |
|---|---|---|
| Jan 8, 2024 | Gift transaction | One late Section 16(a) filing due to administrative error; reported on Form 4 on Jan 23, 2024 . |
Governance Assessment
- Strengths: Independent Chair; robust committee independence; regular executive sessions; strong investor engagement; clear director equity alignment via annual $400K RSUs; clawbacks and anti-hedging/anti-pledging policies; majority voting standard adopted in 2025 with director resignation mechanism .
- Compensation structure: Meier’s 2024 total director comp was $719,067, with $171,500 cash and $547,567 equity (boosted by a one-time $200,000 RSU for transition/strategy work), consistent with increased responsibilities as Chair; annual grants remain RSU-only (no options) to discourage short-term risk taking .
- Attendance and engagement: Board met 10 times in 2024; all directors met the ≥75% attendance threshold .
- Conflicts/related party exposure: No related party transactions involving Meier; CGN pre-approves external board roles to mitigate conflicts .
- Risk indicators & red flags: Meier served as Rockley Photonics’ CEO during its Chapter 11 process (filed Jan 2023); company emerged as private in Mar 2023—this prior bankruptcy involvement is a governance consideration but not linked to BioMarin operations . Minor compliance issue: a single late Section 16 filing for a gift transaction .
- Shareholder signals: Strong Say-on-Pay support in 2024 and 2025; governance and compensation policies reflect responsiveness to investor feedback .
Overall, Meier’s profile reflects seasoned financial and healthcare leadership with independent board oversight, equity alignment through RSUs, and low direct conflict exposure; the prior bankruptcy episode at Rockley is a contextual red flag to monitor alongside continued strong shareholder support and governance controls at BioMarin .