Neil Bush
About Neil Bush
Neil Bush (age 69) is an independent director of FutureTech II Acquisition Corp. (FTII), serving on the board since February 2022; he is a member of the Audit Committee and was identified by the board as financially literate . His background includes leadership of Neil Bush Global Advisors, board service and advisory roles with Asian conglomerates and investment groups, and chair roles in real estate and corporate advisory entities .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Neil Bush Global Advisors, LLC | Sole member | Since Jan 1998 | Global advisory leadership |
| CIIC | Co‑Chairman | Since 2006 | Strategic co‑leadership |
| Asia & America Consultants | Partner | Since Mar 2016 | Cross‑border advisory |
| Greffex, Inc. | Director | Since Jun 2020 | Board oversight |
| Rebound International, LLC | Director | Appointed early 2022 | Board member |
| Points of Light Foundation | Board member | Not specified | Non‑profit governance |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Hong Kong Finance Investment Holding Group | Director | Since 2012 | Board role in finance/investment group |
| CP Group | Adviser | Since 2015 | Advisory role with conglomerate |
| Singhaiyi | Chairman | Since Apr 2013 | Chair role at real estate group |
Board Governance
- Board classification: 3 classes; Neil Bush’s term (Class I) expires at the first annual meeting after listing .
- Independence: Board determined Neil Bush is an independent director under Nasdaq and SEC rules; independent directors hold regular executive sessions .
- Committees and roles:
- Audit Committee: Member; committee chaired by Jonathan McKeage; requires three independent directors, which FTII meets (Bush, McKeage, Moseley); all members financially literate; audit committee charter includes related‑party review .
- Compensation Committee: Not a member (committee consists of McKeage and Moseley; Moseley chairs) .
- Nominating/Governance: No standing committee; independent directors manage nominations per Nasdaq rules .
Fixed Compensation
FTII discloses no cash compensation, retainers, meeting fees, or committee fees paid to directors prior to consummation of an initial business combination; an affiliate of the sponsor receives $10,000/month for office/admin services until business combination or liquidation .
| Component | Amount | Notes |
|---|---|---|
| Annual director cash retainer | None (pre‑business combination) | SPAC structure defers director pay until after de‑SPAC |
| Committee membership fees | None (pre‑business combination) | |
| Committee chair fees | None (pre‑business combination) | |
| Meeting fees | None (pre‑business combination) | |
| Admin/office fee (sponsor affiliate) | $10,000/month | Not paid to directors; paid to sponsor affiliate |
Performance Compensation
FTII reports no equity‑based or incentive compensation (stock awards, options, RSUs/PSUs) for directors prior to the initial business combination; compensation committee responsibilities are largely contingent on de‑SPAC .
| Incentive Element | Terms | Performance Metrics | Vesting |
|---|---|---|---|
| Equity awards (RSUs/PSUs) | None disclosed pre‑business combination | None disclosed | n/a |
| Stock options | None disclosed pre‑business combination | None disclosed | n/a |
| Bonus/variable pay | None disclosed pre‑business combination | None disclosed | n/a |
Other Directorships & Interlocks
| Company/Entity | Type | Role | Potential interlock/conflict notes |
|---|---|---|---|
| Hong Kong Finance Investment Holding Group | Finance/investment | Director | Overlapping financial sector; no FTII transaction disclosed |
| CP Group | Conglomerate | Adviser | Advisory role; no FTII transaction disclosed |
| Singhaiyi | Real estate | Chairman | External chair role; no FTII transaction disclosed |
No FTII filings disclose transactions with these entities tied to Neil Bush; audit committee charter requires related‑party reviews before entering transactions .
Expertise & Qualifications
- Financial literacy affirmed by board for audit committee members (includes Neil Bush) .
- Global advisory, cross‑border investment and corporate chair experience (CIIC, CP Group, Singhaiyi, Hong Kong Finance Investment Holding Group, Asia & America Consultants, Neil Bush Global Advisors) .
Equity Ownership
As of the record date July 11, 2025, Neil Bush beneficially owned 10,000 shares of Class A common stock. Individual percentage of class was not specified; sponsor and other holders dominate ownership .
| Holder | Class A Shares | % of Class A | Record Date |
|---|---|---|---|
| Neil Bush | 10,000 | Not specified for individual | July 11, 2025 |
- Section 16(a) compliance: FTII notes late filings for certain insiders but does not list Neil Bush among late filers in the review period .
- Pledging/hedging: No pledging or hedging by Neil Bush disclosed in FTII filings .
Governance Assessment
-
Positives:
- Independent status with audit committee membership and board‑affirmed financial literacy enhances oversight of financial reporting and related‑party reviews .
- Regular independent director sessions support board effectiveness .
- Beneficial ownership by Neil Bush (10,000 Class A shares) provides some alignment, albeit modest relative to sponsor control .
-
Risks and red flags affecting investor confidence:
- Material weaknesses in internal controls (extension loans accounting, redemption price calculation, clawback entry) and ineffective disclosure controls reported in Q2 2025; these weaknesses can impair financial reporting reliability and investor confidence .
- Going concern risk: FTII may liquidate if no business combination is completed; substantial doubt disclosed in Q2 2025 .
- Sponsor influence and conflicts: Sponsor holds a dominant stake and benefits from completing a business combination; board acknowledges potential conflicts (e.g., incentive to complete less favorable deals, reimbursement dynamics, extension loans totaling $3.45 million) .
- Sponsor indemnity limits: Company notes it has not verified sponsor’s capacity to satisfy indemnity obligations; officers/directors will not indemnify the company for third‑party claims—heightening residual risk to public shareholders .
- Structural governance gaps: No standing nominating committee; independent directors handle nominations without a formal charter, which may limit process transparency versus best‑practice governance .
-
Committee alignment and independence:
- Audit committee composed solely of independent directors (including Bush) meets Nasdaq/SEC requirements; chair is an “audit committee financial expert” (McKeage), reinforcing financial oversight .
- Compensation committee excludes Bush; as a SPAC, director compensation is deferred until de‑SPAC, limiting near‑term pay‑for‑performance analysis .
Overall, Neil Bush’s independence and audit role are positives, but SPAC‑specific risks—material control weaknesses, going‑concern uncertainty, and sponsor‑aligned incentives—are significant governance headwinds for investor confidence until de‑SPAC and remediation occur .