Brian Concannon
CONMEDAbout Brian P. Concannon
Independent director at CONMED (CNMD); age 67; director since 2013. Former President & CEO of Haemonetics (NYSE: HAE) from April 2009 to October 2015, with 30+ years of healthcare leadership across Baxter, Allegiance, Cardinal Health; graduate of the United States Military Academy at West Point . The Board has determined he is independent under NYSE standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Haemonetics (NYSE: HAE) | President & CEO; Director | Apr 2009–Oct 2015 | Led public medtech company; CEO experience |
| Haemonetics | COO | 2007–2009 | Operational leadership |
| Haemonetics | President, Global Markets | 2006 | Global commercial leadership |
| Cardinal Health (NYSE: CAH) | President, Northeast Region, Medical Products & Services | 1998–2003 | Regional P&L leadership |
| American Hospital Supply; Baxter; Allegiance | Sales & operations roles | Prior to 1998 | Progressive operating roles |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Hivers and Strivers (investment fund) | Director | Since Sep 2020 | Investment fund governance |
| VetAccel | Director | Since Nov 2019 | Board service |
| South Shore Health | Vice-Chair | Jan 2017–Dec 2019 | Non-profit healthcare governance |
| My Brother’s Keeper | Director; Chair of the Board | Jan 2010–Dec 2021 | Long-tenure board leadership |
| Aegle Health Partners | Director | Oct 2021–May 2023 | Board service |
| Civilian Aide to the Secretary of the Army (Massachusetts) | Appointee | 2017–2024 | Public service role |
Board Governance
- Committee assignments: Compensation Committee Chair; Strategy Committee member .
- Independence: Independent under NYSE (Board confirms for all non-employee directors) .
- Attendance/Engagement: Board met 8 times in 2024; each director attended all; Compensation Committee met 6 times and all active members attended; Strategy Committee met 2 times and all attended .
- Tenure policy: Independent directors appointed prior to Dec 2024 expected to offer not to stand for reelection upon completing 12 years; waivable for good cause .
- Executive sessions: Independent directors meet in executive session during each Board meeting .
- Committee rotation: Chair rotation expected every 3–5 years .
Fixed Compensation
| Cash Component | 2024 Schedule | Brian Concannon – 2024 Actual |
|---|---|---|
| Board annual retainer (non-employee director) | $70,000 | |
| Chair of the Board | $120,000 | |
| Audit Chair / Member | $30,000 / $15,000 | |
| Compensation or Governance Chair / Member | $17,500 / $8,750 | |
| Strategy Chair / Member | $15,000 / $7,500 | |
| Special Committee monthly fee (ad hoc), Chair / Member | $7,000 / $5,000 | |
| Fees earned or paid in cash (total) | — | $134,821 |
Notes:
- 2024 cash amounts reflect committee roles and additional fees for service on the ad hoc Independent Special Committee related to DOJ voluntary disclosure; Concannon’s cash total includes Special Committee fees .
Performance Compensation
| Equity Component | Grant specifics | Brian Concannon – 2024 Values |
|---|---|---|
| Annual director equity (time-based) | ~$185,000 total value; 5,503 stock options (80%) and 479 RSUs (20%); valuation as of June 3, 2024; options and RSUs vest on June 3, 2025 | |
| Stock awards (RSUs) – grant date fair value | — | $36,969 |
| Option awards – grant date fair value | — | $147,976 |
| Total 2024 director equity value | — | $184,945 |
- Director equity is time-based; no PSUs or performance metrics tied to director grants .
Other Directorships & Interlocks
| Category | Status |
|---|---|
| Current public company boards | None disclosed for Concannon |
| Compensation Committee interlocks | None in 2024; no member was an officer/employee of CNMD, and no reciprocal executive/board interlocks with other entities |
Expertise & Qualifications
- Former public-company CEO (Haemonetics), deep sales, marketing, and operations experience in medtech and distribution .
- West Point graduate; broad governance and strategic roles across healthcare and investment entities .
Equity Ownership
| Metric | Amount | Detail |
|---|---|---|
| Shares owned directly/indirectly | 9,637 | Beneficially owned common shares |
| Shares vesting/exercisable within 60 days | 16,209 | Includes options/SARs vesting/exercisable |
| Total ownership | 25,846 | Less than 1% of outstanding |
| Options & SARs outstanding | 21,712 | As of Dec 31, 2024 |
| Stock awards outstanding (unvested RSUs) | 479 | As of Dec 31, 2024 |
| Director stock ownership guideline | 4x annual board retainer; compliance required within 5 years | All non-employee directors compliant as of Dec 31, 2024 |
| Hedging/pledging policy | Prohibited for directors and officers (including margin pledging) | Policy applies company-wide |
Insider Trades and Compliance
| Item | Disclosure |
|---|---|
| Late Section 16 filing | One late Form 4 covering three transactions in FY2024 |
Governance Assessment
- Strengths:
- Independent director; Chair of Compensation Committee with full independence and robust charter oversight (clawbacks, risk, CEO comp process) .
- Strong engagement: 100% Board and committee attendance in 2024; active Strategy participation .
- Ownership alignment: Compliant with stringent director ownership guidelines; hedging and pledging prohibited .
- No interlocks or related-party conflicts disclosed; related-party transaction pre-approval policy in place .
- Shareholder support for compensation framework: 96.2% say‑on‑pay approval in 2024 (signal of governance confidence) .
- Watch items / potential red flags:
- Tenure: Appointed in 2013; Board policy expects directors appointed before Dec 2024 to offer not to stand after 12 years (waivable). Concannon is at the limit in 2025; monitor refresh decisions and rationale .
- Late Section 16: One late Form 4 (minor compliance lapse); monitor for recurrence .
- Cash fee sensitivity: Additional Special Committee fees increased cash comp in 2024; while appropriate for added workload, investors should monitor the balance of cash vs equity and committee workload allocations .
Overall, Concannon’s profile supports board effectiveness in compensation governance and strategy, with strong engagement and alignment policies. Tenure and minor filing timeliness warrant monitoring, but no material conflicts or related-party issues are disclosed .