Eric Hughes
About Eric Hughes
Eric Hughes, M.D., Ph.D., is an independent Class III director of Monte Rosa Therapeutics (GLUE) since December 2024; his current term runs through the 2027 annual meeting. He is 55 and serves as Executive Vice President, Global R&D and Chief Medical Officer at Teva Pharmaceutical Industries, roles held since August 2022. He previously held senior development roles at Vertex (2021–2022), Novartis (2015–2021), served as NIH ACTIV therapeutics working group co-chair (2020–2021), and held multiple executive roles at Bristol Myers Squibb (2010–2015). He earned his M.D. and Ph.D. from Yale School of Medicine.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Vertex Pharmaceuticals | SVP Clinical Development & Translational Medicine | 2021–2022 | Senior clinical and translational leadership |
| Novartis | Global Development Unit Head, Immunology/Hepatology/Dermatology | 2015–2021 | Led clinical development and biostatistics across multiple TAs; expanded development in China |
| NIH ACTIV (public-private partnership) | Co-Chair, Therapeutics Clinical Working Group | 2020–2021 | Pandemic therapeutics coordination |
| Bristol Myers Squibb | Discovery Medicine and Translational Research leader (multiple therapy areas) | 2010–2015 | Led virology/fibrotic/genetically defined diseases/autoimmunity/cardiology discovery medicine |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Teva Pharmaceutical Industries Ltd. | EVP, Global R&D and Chief Medical Officer | Aug 2022–present | Current executive role |
Board Governance
- Independence: The board determined all directors other than the CEO are independent; Hughes is independent under Nasdaq and SEC rules.
- Committee assignments: Member, Nominating & Corporate Governance Committee (chair: Jan Skvarka). Not listed on Audit or Compensation.
- Attendance: The board met 15 times in 2024; each director attended ≥75% of aggregate board and committee meetings. Directors are expected to attend annual meetings; all attended the 2024 annual meeting except Hughes, who joined in December 2024.
- Board leadership: Roles of Chair and CEO are separated; Chair is Andrew Schiff, M.D. (non-executive).
| Committee | Hughes’ Role | Chair | Meetings in 2024 |
|---|---|---|---|
| Audit | — | Christine Siu | 4 |
| Compensation | — | Kimberly Blackwell, M.D. | 6 |
| Nominating & Corporate Governance | Member | Jan Skvarka, Ph.D., MBA | 3 |
2025 Annual Meeting Voting Outcomes
| Proposal | For | Withheld/Against | Abstain | Broker Non-Votes |
|---|---|---|---|---|
| Elect Christine Siu (Class I) | 52,143,532 | 3,367,310.88 | — | 2,527,094 |
| Elect Kimberly Blackwell (Class I) | 52,275,622 | 3,235,220.88 | — | 2,527,094 |
| Elect Jan Skvarka (Class I) | 44,809,192 | 10,701,650.88 | — | 2,527,094 |
| Ratify Deloitte & Touche LLP | 57,885,651 | 139,408 | 12,877.88 | 0 |
- Say-on-pay: As an emerging growth company, GLUE is not required to hold advisory votes on executive compensation.
Fixed Compensation
| Component | Policy Amount | 2024 Received by Hughes |
|---|---|---|
| Annual board retainer (cash) | $40,000 | $0 (joined Dec 2024; no cash fees in 2024) |
| Non-executive chair premium | +$30,000 | N/A (not chair) |
| Audit or Compensation Committee member | $7,500 (member), $15,000 (chair) | N/A (not a member) |
| Nominating & Governance Committee member | $4,000 (member), $8,000 (chair) | Not reflected in 2024 (joined late; cash fees “—”) |
- Directors may elect to receive cash retainers in unrestricted shares. Reasonable out-of-pocket expenses reimbursed.
Performance Compensation
| Grant Type | Shares | Grant-Date Fair Value | Vesting | Change-in-Control Terms |
|---|---|---|---|---|
| Initial non-employee director stock option (upon appointment) | 44,200 | $281,355 | 36 equal monthly installments post-grant | 100% acceleration upon change in control |
| Annual option for continuing non-employee directors (2024 program) | 22,100 | Not individually disclosed | Vests in full by first anniversary or next annual meeting | 100% acceleration upon change in control |
- No director PSUs/TSR or operating performance metrics disclosed; director equity is time-based options under the policy.
Other Directorships & Interlocks
- No other public company directorships for Hughes are disclosed in the proxy biography.
- No family relationships or material legal proceedings involving directors were disclosed.
Expertise & Qualifications
- M.D. and Ph.D. from Yale; extensive clinical and translational research leadership across large-cap pharma and biotech.
- Prior leadership over multiple therapeutic areas at Novartis, expansion of development in China, and pandemic therapeutics coordination through NIH ACTIV.
Equity Ownership
| Metric | Amount/Detail |
|---|---|
| Beneficial ownership (as of March 31, 2025) | 6,138 shares issuable upon exercise of options within 60 days |
| Aggregate options held (12/31/2024) | 44,200 shares subject to stock options |
| Shares outstanding (record date for 2025 meeting) | 61,509,821 shares (April 16, 2025) |
- Hedging/pledging prohibited under insider trading policy; short sales and derivatives are prohibited, and pledging company securities is disallowed.
Governance Assessment
- Board effectiveness and independence: Hughes is independent, actively serves on the Nominating & Governance Committee, and brings deep drug development expertise—valuable for R&D strategy oversight.
- Attendance and engagement: Board met 15 times in 2024 with strong attendance; Hughes joined in Dec 2024 and was not present at the 2024 annual meeting due to timing. Committee activity levels (Audit 4; Compensation 6; Nominating 3) indicate active governance cadence.
- Compensation alignment: Director pay emphasizes equity options with time-based vesting; Hughes received an initial grant with no 2024 cash fees, aligning incentives with shareholder outcomes; change-in-control acceleration applies, consistent with broader policy.
- Conflicts/related-party: No related-party transactions involving Hughes were disclosed; policies require audit committee review of any such transactions. His current executive role at Teva is disclosed, but no conflicting dealings with GLUE are noted.
- Compensation committee governance: Independent committee chaired by Dr. Blackwell, advised by Radford; the committee assessed Radford’s independence and found no conflicts.
- Risk indicators: No family relationships or adverse legal proceedings disclosed; hedging and pledging banned; EGC status means no say-on-pay vote, but annual meeting votes showed broad support for board nominees and auditor.