Falko Busse
BRUKERAbout Falko Busse
Falko Busse, Ph.D. (age 58 as of April 1, 2025) is President of Bruker BioSpin Group, a role he has held since May 2018; he joined Bruker in 2015 after two decades at Philips Healthcare. He holds a B.A. and Ph.D. in Physics from Rheinische Friedrich-Wilhelms-Universität Bonn . In 2024, Bruker’s revenue grew 13.6% to $3,366.4M while non-GAAP EPS declined 6.6% to $2.41 and non-GAAP operating margin fell 300 bps to 15.4% . Bruker’s five-year pay-versus-performance disclosure shows 2024 TSR index value of 116.73 and non-PEO NEO compensation with performance focus; Busse is included among Non-PEO NEOs .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Bruker BioSpin Group | President | May 2018–present | Leads global operations for BioSpin; accountability for revenue growth, profitability and working capital; delivered 2024 financial goal achievement of 115.7% on group metrics . |
| Bruker BioSpin Group | Deputy President | Oct 2017–May 2018 | Transition leadership ahead of presidency; oversight across functions . |
| Bruker BioSpin Group | EVP R&D, Operations & Marketing | Mar 2017–Sep 2017 | Drove cross-functional execution in product development and go-to-market . |
| Bruker BioSpin Group | EVP R&D | Jun 2015–Feb 2017 | Led innovation pipeline for BioSpin . |
| Philips Healthcare | GM Radiology Solutions; GM MR-Therapy; various managerial roles | Aug 1994–May 2015 | Led imaging businesses and MR-therapy initiatives; scale operations and product leadership . |
External Roles
No external public-company board or committee roles are disclosed for Dr. Busse in the proxy biographies .
Fixed Compensation
Three-year summary compensation (reporting currency and FX per proxy footnotes):
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary ($) | 425,800 | 468,944 | 502,761 |
| Stock Awards (RSUs) ($ grant-date FV) | 288,796 | 300,300 | 373,860 |
| Option Awards ($ grant-date FV) | 98,307 | 99,889 | 123,679 |
| Non-Equity Incentive Plan Compensation ($) | 220,292 | 342,657 | 328,509 |
| All Other Compensation ($) | 117,245 | 133,576 | 136,223 |
| Total ($) | 1,150,440 | 1,345,365 | 1,465,032 |
2024 base salary level approved for the year: $508,819 (5% increase vs 2023), with ICP target unchanged from 2023; targets set at beginning of year .
2024 “All Other Compensation” detail:
- Automobile costs/allowance: $33,821
- Dividends paid on vested RSUs: $2,131
- Pension contributions (Swiss Pension Plan): $103,271
Performance Compensation
2024 ICP structure and Busse outcomes (Group President plan: 70% financial goals, 30% individual goals; each financial goal pays 0–200%) .
| Metric (BioSpin Group 2024) | Weight | Target | Actual | Payout (% of goal) |
|---|---|---|---|---|
| Currency-Adjusted Revenue Growth | 15% | $92.0M | $75.7M | 82.2% |
| Non-GAAP Gross Profit Improvement | 15% | $33.7M | $29.6M | 87.6% |
| Non-GAAP Operating Profit Improvement | 15% | $10.7M | $13.8M | 128.9% |
| Working Capital Ratio Reduction | 15% | 0.023 | 0.060 | 200.0% |
| Non-GAAP EPS Increase | 10% | $0.21 | $0.13 | 61.9% |
| Financial sub-total | 70% | — | — | 115.7% |
| Individual strategic/organizational goals | 30% | — | — | 102.5% |
| Total ICP payout vs target | 100% | — | — | 111.8% |
Additional 2024 recognition: $50,000 special recognition grant for outstanding performance relating to an acquisition (in addition to annual equity award) .
2024 equity grant (August 9, 2024), time-based vesting:
- RSUs: 6,030 units; grant-date fair value $373,860; vest 25% annually 2025–2028 .
- Stock options: 5,486 options at $62.00 strike; grant-date fair value $123,679; vest 25% annually 2025–2028; 10-year term .
Equity mix and philosophy: NEO equity ~25% options / 75% RSUs; four-year vesting; double-trigger vesting on change-in-control if assumed and qualifying termination; otherwise accelerated if not assumed .
Equity Ownership & Alignment
Beneficial ownership as of April 1, 2025:
- Total beneficial ownership: 38,642 shares; <1% of class; includes options exercisable within 60 days: 12,339 shares .
- No hedging or pledging permitted under Insider Trading Policy; robust stock ownership guidelines (2x salary for executive officers); all executives have met guidelines and must hold 50% of shares delivered until met .
Outstanding equity positions at 12/31/2024 (select details):
-
Unvested RSUs and market value at $58.62/share:
- 8/05/2021: 831 RSUs; vests final tranche in 2025; $48,713 .
- 8/11/2022: 2,330 RSUs; vests 2025–2026; $136,585 .
- 8/10/2023: 3,395 RSUs; vests 2025–2027; $199,015 .
- 8/09/2024: 6,030 RSUs; vests 2025–2028; $353,479 .
- Total unvested RSUs: 12,586; total value $737,792 (proxy change-in-control table shows $737,791) .
-
Options (exercisable/unexercisable, strike, expiry; vest 25% annually):
- 8/06/2020: 5,828 exercisable; $43.50 strike; expires 8/06/2030 .
- 8/05/2021: 3,114 exercisable / 1,039 unexercisable; $81.32 strike; expires 8/05/2031 .
- 8/11/2022: 2,359 exercisable / 2,360 unexercisable; $62.00 strike; expires 8/11/2032 .
- 8/10/2023: 1,038 exercisable / 3,116 unexercisable; $66.35 strike; expires 8/10/2033 .
- 8/09/2024: 0 exercisable / 5,486 unexercisable; $62.00 strike; expires 8/09/2034 .
2024 equity activity:
- Options exercised: 28,122; value realized $1,692,835 .
- RSUs vested: 4,419; value realized $271,837 .
Employment Terms
| Term | Detail |
|---|---|
| Employer | Bruker BioSpin AG (Switzerland) |
| Base salary | $508,819 approved for 2024 (5% increase) |
| Target cash bonus (ICP) | 60% of base salary; 2024 target $305,291 |
| Long-term equity | Annual equity award with value of CHF 175,000 under 2016 Plan |
| Benefits | Swiss Pension Plan (cash balance) on same terms as Swiss employees; company contribution $100,279 in 2024; employee contributed $86,170 in 2024 |
| Pension PVABO | Present value of accumulated benefit: $1,128,289; credited service 6.67 years (through 12/31/2024) |
| Death/disability | Death-in-service salary continuation for 6 months ; if death as of 12/31/2024, spouse annual survivor benefit $236,923; disability pension $394,872/year |
| Restrictive covenants | One-year non-compete; two-year non-solicit; six months’ termination notice by either party |
| Severance | Lump-sum payment of $881,731 if employment terminated (other than death/disability) as of 12/31/2024; cash severance benefits exist under employment agreement (specific change-in-control cash terms not quantified in proxy) |
| Change-in-control (equity) | 2016 Plan double-trigger: if assumed and terminated without cause/for good reason within 24 months, unvested options and time-based RSUs vest; if not assumed, awards vest at change-in-control (performance awards at target pro rata) |
| CIC equity value (12/31/2024) | Unvested RSUs: $737,791; unvested in-the-money options: — (none) |
Governance policies:
- Clawback policy for restatements; plan-level clawback for policy violations/restrictive covenant breaches .
- No hedging or pledging; robust ownership guidelines (2x salary) and holding requirement until met; compliance reported .
Related-party disclosure:
- Dr. Venita Busse (spouse) employed by Bruker Switzerland AG; 2024 compensation $201,467; governed by Related-Person Transactions Policy .
Investment Implications
- Pay-for-performance alignment: Busse’s 2024 ICP tied to five financial levers (revenue growth, gross profit, operating profit, working capital, non-GAAP EPS) delivered 115.7% on financials and 111.8% overall, consistent with strong BioSpin execution (notably OP improvement and working capital) despite revenue/EPS under-targets at the corporate level .
- Retention and selling pressure: Four-year ratable vesting on RSUs and options through 2028 creates a steady but modest supply of shares; most unvested options are currently out-of-the-money at 12/31/24 ($58.62 vs strikes $62.00/$66.35/$81.32), limiting near-term exercise-driven selling; 2020 options at $43.50 remain in-the-money .
- Alignment/controls: Ownership guidelines met, plus strict no-hedging/no-pledging and clawback regime reduce misalignment risks; double-trigger CIC equity treatment is shareholder-friendly (no single-trigger windfalls) .
- Contract economics: Swiss employment terms include measured severance ($881,731 as of 12/31/24) and standard restrictive covenants (1-year non-compete; 2-year non-solicit; 6-month notice), which mitigate abrupt transition risk while avoiding excessive parachute exposure; CIC equity value at year-end concentrated in time-based RSUs ($737,791) .
- Execution track record: BioSpin exceeded profitability and working capital targets in 2023–2024 (financial achievement 123.8% in 2023; 115.7% in 2024), indicating disciplined operating execution; ongoing acquisition integration recognized via a $50,000 performance grant in 2024 .