James Tobin
Lead Independent Director at GMED
Board
About James R. Tobin
James R. “Jim” Tobin (age 80) is an independent director at Globus Medical and has served on the Board since August 2015. He is Chair of the Nominating and Corporate Governance Committee, a member of the Compensation Committee, and was selected as Lead Independent Director in February 2025. Tobin is a veteran medtech operator: former CEO of Boston Scientific, CEO/COO at Biogen, and President/COO at Baxter. He holds an MBA from Harvard Business School and an AB from Harvard College.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Boston Scientific | President & Chief Executive Officer | Mar 1999 – Jul 2009 | Led major medtech enterprise |
| Biogen, Inc. | President & Chief Executive Officer | 1997 – 1998 | Senior leadership in biotech |
| Biogen, Inc. | Chief Operating Officer | 1994 – 1997 | Enterprise scaling/operations |
| Baxter International | Various roles; President & Chief Operating Officer | 1972 – 1994; President & COO 1992 – 1994 | Global operations leadership |
| U.S. Navy | Lieutenant | 1968 – 1972 | Leadership/service background |
External Roles
| Company | Ticker | Role | Notes |
|---|---|---|---|
| TransMedics, Inc. | TMDX | Chairman of the Board | Organ preservation technology |
| Lyra Therapeutics | LYRA | Director | ENT-focused clinical-stage company |
| Xenter, Inc. | Private | Director | Interventional cardiology devices |
Board Governance
- Independence: The Board determined Tobin is an independent director under NYSE standards.
- Lead Independent Director: Role reinstated Feb 2025; Jim Tobin selected. Duties include presiding over non-management sessions and serving as liaison between management and non-management directors.
- Committee roles:
- Nominating & Corporate Governance Committee: Chair; in 2024 the committee did not meet but conducted business by written consent. Members include independent directors and also the Executive Chairman (David C. Paul) and CEO (Daniel T. Scavilla).
- Compensation Committee: Member; in 2024 the committee held one meeting; membership includes independent directors plus the Executive Chairman.
- Equity Compensation Committee (subcommittee of Compensation): Member; administers equity-based compensation plans.
- Attendance: In 2024 the full Board held five regular and two special meetings; each director attended at least 75% of Board and committee meetings. Independent directors did not attend the 2024 annual stockholders’ meeting.
- Controlled company: Globus relies on NYSE controlled company exemptions; a majority of directors and all Audit Committee members are independent, but Compensation and Nominating/Governance Committees are not comprised solely of independents.
Fixed Compensation (Non‑Employee Director – 2024)
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer | $70,000 | Standard non‑employee director cash retainer |
| Committee membership fees | $10,000 per committee | Tobin served on two committees (Compensation; Nominating & Corporate Governance) |
| Total cash fees received (actual) | $90,000 | As reported in director compensation table |
| Committee chair fees | Not disclosed for N&CG | Audit Chair fee disclosed at $30,000; no N&CG chair fee disclosed |
| Meeting fees | None disclosed | No separate per‑meeting fees disclosed |
Performance Compensation (Non‑Employee Director – 2024)
| Award Type | Grant Date | Shares/Options | Exercise/Strike | Vesting | Grant Date Fair Value |
|---|---|---|---|---|---|
| Stock Option | Jan 2024 | 15,000 options | $53.75 | Vested in full on first anniversary | $331,524 |
No performance metrics were disclosed for director equity; options vest on time-based schedule (one-year), aligning directors with equity value but not contingent on TSR/operational metrics.
Other Directorships & Interlocks
| Company | Ticker | Role | Potential Interlock/Conflict Notes |
|---|---|---|---|
| TransMedics, Inc. | TMDX | Chairman | No GMED transaction disclosed in cited sections |
| Lyra Therapeutics | LYRA | Director | No GMED transaction disclosed in cited sections |
| Xenter, Inc. | Private | Director | No GMED transaction disclosed in cited sections |
Expertise & Qualifications
- Decades of senior leadership in medtech and biotech (Boston Scientific CEO; Biogen CEO/COO; Baxter President/COO).
- Governance leadership as Lead Independent Director and N&CG Committee Chair.
- Education: MBA, Harvard Business School; AB, Harvard College.
Equity Ownership
| Metric | Amount | Notes |
|---|---|---|
| Beneficial ownership (Class A) | 77,916 shares | As of March 31, 2025; “less than 1%” of outstanding Class A |
| Shares subject to outstanding stock options | 86,666 | As of Dec 31, 2024 |
Governance Assessment
-
Positives
- Appointment as Lead Independent Director (Feb 2025) enhances independent oversight and board-shareholder alignment.
- Independent director with deep medtech operating experience; chairs N&CG and serves on Compensation Committee, plus equity subcommittee exposure.
- Director pay includes equity (stock options) creating alignment with long-term shareholder value; 2024 options vest over one year.
-
Concerns / RED FLAGS
- Controlled company exemptions: Compensation and Nominating/Governance Committees include management (Executive Chairman and CEO), which can dilute independent oversight despite Tobin’s chair role on N&CG.
- Committee engagement optics: N&CG did not hold meetings in 2024 (acted by written consent); Compensation Committee met only once—both can signal lower formal engagement cadence.
- Investor engagement optic: None of the independent directors attended the 2024 annual meeting of stockholders.
-
Alignment & Ownership
- Tobin holds 77,916 Class A shares and 86,666 outstanding options; ownership is <1% of the class—typical for outside directors, but sizeable option position provides equity exposure.
-
Attendance
- Tobin met the Board’s minimum attendance threshold (each director ≥75% of Board/committee meetings in 2024).