Robert Stewart
CorMedixAbout Robert Stewart
Robert Stewart, 57, has served as an independent director of CorMedix Inc. since April 2023. He is currently Chief Executive Officer of Theramex (since March 2020), and previously served as CEO of Amneal Pharmaceuticals (2018–2019) and Chief Operating Officer and President, Global Operations at Allergan/Watson/Actavis (2009–2018). He holds a bachelor’s degree in Finance & Business Management from Fairleigh Dickinson University and currently sits on the Board of Directors of Cipla Ltd. and the Board of Trustees of Fairleigh Dickinson University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Amneal Pharmaceuticals Inc. | Chief Executive Officer | 2018–2019 | Led integration and operations at a major generic/specialty pharma; prior ties relevant to CRMD CEO’s past Amneal role . |
| Allergan/Watson/Actavis | Chief Operating Officer; President, Global Operations | 2009–2018 | Senior operational leadership across manufacturing and global operations . |
| Abbott Laboratories; Knoll Pharmaceutical; Hoffmann La Roche | Management roles | Not disclosed | Early career leadership in pharma operations . |
External Roles
| Organization | Role | Since | Notes |
|---|---|---|---|
| Theramex | Chief Executive Officer | March 2020 | Global specialty pharma focused on women’s health . |
| Cipla Ltd. | Director | Not disclosed | Current public company directorship . |
| Fairleigh Dickinson University | Board of Trustees | Not disclosed | Non-profit/academic governance role . |
Board Governance
| Attribute | Status | Evidence |
|---|---|---|
| Independence | Independent director under Nasdaq rules | Board determined Stewart is independent; all committee members independent . |
| Committee assignments | Nominating & Governance Committee (member) | Committee composition lists Kaplan (Chair), Stewart, Dillione . |
| Committee chair roles | None disclosed | Stewart not listed as chair of any committee . |
| Board structure | Chair and CEO roles separated | Independent chair (Myron Kaplan) and separate CEO (Joseph Todisco) . |
| Attendance | ≥75% of Board and committee meetings in 2024 | Each director nominee met at least 75% threshold . |
- No related-party transactions were disclosed for 2024, and CRMD maintains an Audit Committee review process for any such transactions .
- Hedging is prohibited; pledging/margin use is strongly discouraged by policy, supporting alignment .
- Equity awards under CRMD’s omnibus plan include explicit clawback provisions and prohibit option/SAR repricing without shareholder approval .
Fixed Compensation
| Component (FY 2024) | Amount ($) | Notes |
|---|---|---|
| Cash fees (annual and committee) | 75,000 | 2024 program: base director fee $55,000; committee non-chair fees: N&G $5,000; Strategy Committee $15,000. Stewart’s $75,000 cash total is consistent with base + N&G + Strategy membership . |
Performance Compensation
| Element (FY 2024) | Detail | Amount/Terms |
|---|---|---|
| Option awards (grant-date fair value) | Annual director option grant under 2019 Omnibus Plan | $81,564 . |
| Options outstanding (12/31/2024) | Total option holdings as director | 69,200 shares . |
| Vesting terms (director program) | Annual grants vest monthly over one year; first-election grants vest one-third at grant, then annually for two years | As specified in program . |
| Repricing protection | No repricing of options/SARs without stockholder approval | Plan prohibits repricing except for equitable adjustments/corporate transactions . |
| Clawback | Awards subject to mandatory/discretionary clawback policies and plan recoupment terms | Nasdaq-aligned clawback policy adopted; plan clawback/recoupment applies . |
Directors at CRMD receive time-based equity; no disclosed performance metrics (e.g., TSR, revenue) tied to director compensation awards .
Other Directorships & Interlocks
| Company | Role | Potential Interlock/Conflict Consideration |
|---|---|---|
| Cipla Ltd. | Director | No CRMD-related transactions disclosed; no related-party exposure noted for 2024 . |
| Theramex | CEO | Different therapeutic focus (women’s health); no CRMD transactions disclosed . |
| Amneal (prior) | Former CEO | Network overlap with CRMD CEO’s prior Amneal tenure; not a related-party transaction . |
Expertise & Qualifications
- Deep pharma operating leadership (COO and Global Operations leadership at Allergan/Watson/Actavis; CEO roles), relevant to scale-up, supply chain, and quality systems .
- Current CEO experience at Theramex informs commercialization and governance perspectives .
- Public board experience (Cipla) and non-profit governance (FDU) add oversight and stakeholder engagement skills .
- Finance and business management academic credentials; extensive industry tenure .
Equity Ownership
| Holder | Common Shares | Options (shares) | Total Beneficial Ownership | % of Outstanding |
|---|---|---|---|---|
| Robert Stewart | 11,000 | 69,200 | 80,200 | <1% |
- Director stock ownership guideline: $100,000 of CRMD common stock within five years of joining the board; Stewart joined April 2023 .
- As of Sept 30, 2025, CRMD’s closing price was $11.63, implying ~$128,000 for 11,000 shares (guideline counts shares via purchases/vestings/exercise); indicates Stewart is on track and appears compliant as of that date, subject to company’s measurement methodology .
Governance Assessment
- Alignment: Mix of cash ($75k) and equity ($81.6k FV) is balanced; equity awards with clawback and anti-repricing provisions support shareholder alignment .
- Independence & oversight: Independent director, serves on Nominating & Governance; separation of Chair/CEO strengthens oversight; attendance met ≥75% threshold in 2024 .
- Conflicts: No related-party transactions disclosed in 2024; hedging prohibited and pledging discouraged; external CEO role at Theramex and Cipla board seat do not present disclosed conflicts with CRMD’s current operations .
- RED FLAGS: None disclosed regarding related-party transactions, option repricing, or pledging/hedging; a potential time-commitment concern exists given multiple external roles, but 2024 attendance met policy threshold .
- Ownership guideline: Stewart appears to meet the $100,000 guideline based on reported holdings and period price; continuing compliance should be monitored over time per policy .