Elizabeth McKee Anderson
INSMEDAbout Elizabeth McKee Anderson
Elizabeth McKee Anderson, 67, is an independent director of Insmed (INSM) serving since November 2018 and currently chairs the Nominations & Governance Committee. She holds a B.S. in Engineering from Rutgers University and an M.B.A. in Finance from Loyola University Maryland. The Board cites 30+ years of leadership in biotechnology, pharmaceuticals, and vaccines, with deep global marketing and infectious disease expertise, making her well-suited to guide commercial and market access matters. She also serves on the boards of GSK plc, BioMarin Pharmaceutical, and Revolution Medicines.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Janssen Pharmaceuticals (J&J) | Worldwide VP, Global Strategic Marketing & Market Access, Infectious Diseases & Vaccines; Worldwide VP, Vaccines; Worldwide VP, Immunology; Worldwide VP, BIO Strategic Marketing; VP, Global Biologics Strategic Marketing (Centocor); VP, Strategic Planning & Market Research (Centocor) | 2003–2014 | Led global strategy, market access and marketing across multiple therapeutic areas, including infectious diseases and vaccines |
| Wyeth | VP & General Manager, Wyeth Lederle Vaccines | 1997–2002 | Commercial and general management leadership in vaccines |
| Rhone-Poulenc Rorer / Centeon LLC / Armour Pharmaceutical | SVP & GM, North America (Centeon); VP & GM, North America (Armour); VP, Worldwide Business Operations (Armour) | 1993–1997 | P&L and operations leadership in biologics |
| American Red Cross | Various roles | 1983–1993 | Healthcare and operations experience |
| Mobay Chemical Company | Various roles | 1979–1983 | Early career technical/commercial experience |
External Roles
| Organization | Role | Tenure | Committees |
|---|---|---|---|
| GSK plc | Non-Executive Director | Since Sep 1, 2022 | Audit & Risk Committee (Member); Remuneration Committee (Member) |
| BioMarin Pharmaceutical Inc. | Director; Chair, Compensation Committee | Since July 2019 | Compensation (Chair); Corporate Governance & Nominating (Member); Science & Technology (Member) |
| Revolution Medicines, Inc. | Director; Chair, Compensation Committee | Since 2015 | Compensation (Chair); Commercialization Committee (Member) |
| Aro Biotherapeutics (private) | Director | Current | Board member |
| The Wistar Institute | Trustee | Current | Board of Trustees |
| Naxion Inc. (private) | Advisory Board Member | Current | Advisory role |
| PureSight Advisory, LLC | Principal | Current | Advisory practice leadership |
Board Governance
- Independence: The Board determined Ms. Anderson is independent under Nasdaq standards. 8 of 9 directors were independent as of the record date; all Board committee members were independent.
- Committee assignments (INSM): Chair, Nominations & Governance Committee (members: Anderson (Chair), Schafer, Sharoky); the committee held 4 meetings in 2024 and oversees board composition, evaluations, governance policies, sustainability oversight, and director onboarding/education.
- Attendance and engagement: The Board met 8 times in 2024; each director attended at least 75% of aggregate Board and committee meetings during their tenure. All directors attended the 2024 Annual Meeting.
- Governance practices: Executive sessions are regularly held at the end of Board and committee meetings; Board/committees conduct annual self-evaluations, using a third-party facilitator in 2024. Directors are limited to four public company boards, including Insmed.
Fixed Compensation
| Component (2024) | Amount |
|---|---|
| Annual Board retainer (cash) | $50,000 |
| Nominations & Governance Committee Chair fee | $10,000 |
| Committee member fees (non-chair) | N/A for Anderson at INSM in 2024 |
| Meeting fees | Not paid on a per-meeting basis |
| Total cash fees (Anderson) | $60,000 |
Notes:
- Lead Independent Director retainer ($25,000) and other chair/member fees apply only if holding those roles; not applicable to Anderson beyond N&G Chair.
Performance Compensation
| Grant Date | Instrument | Shares/Units | Grant-Date Fair Value | Vesting | Other Terms |
|---|---|---|---|---|---|
| May 13, 2024 | RSUs | 13,162 | ~$340,000 | Vest on first anniversary (May 13, 2025) subject to ≥75% Board meeting attendance during grant year | Annual equity-based grant to all non-employee directors; as of Dec 31, 2024, each non-employee director held 13,162 RSUs; no option awards granted or held by non-employee directors in 2024 |
Performance metric for director equity vesting:
| Metric | Threshold | Applies To |
|---|---|---|
| Board attendance rate | ≥75% during the year of grant | 2024 RSUs vesting condition |
Other Directorships & Interlocks
| Company | Role | Committees | Notes |
|---|---|---|---|
| GSK plc | Non-Executive Director | Audit & Risk (Member), Remuneration (Member) | Appointed Sep 1, 2022; Board determined independent NED under UK Code |
| BioMarin Pharmaceutical Inc. | Director | Compensation (Chair); CG&N (Member); S&T (Member) | On board since July 2019 |
| Revolution Medicines, Inc. | Director | Compensation (Chair); Commercialization (Member) | On board since 2015 |
- Related-party transactions at Insmed: None requiring disclosure since January 1, 2024.
- Board service limit: Insmed limits directors to four public company boards; Anderson concurrently serves on INSM, GSK, BMRN, and RVMD (at the limit).
Expertise & Qualifications
- Education: Rutgers University (B.S., Engineering); Loyola University Maryland (M.B.A., Finance).
- Core expertise: Extensive global marketing and market access leadership in infectious diseases and vaccines; senior operating roles across biologics and pharmaceuticals.
- Board qualifications cited by Insmed: Commercial and market access guidance based on 30+ years across biotech, pharma, and vaccines.
Equity Ownership
| Item | Amount |
|---|---|
| Beneficially owned shares | 55,509 (<1% of outstanding) |
| Unvested RSUs (as of 12/31/2024) | 13,162 |
| Options (exercisable/unexercisable) | None held as of 12/31/2024 |
| Director ownership guideline | 3x annual retainer; to be achieved within 5 years; all non-employee directors with ≥5 years on the Board exceeded the guideline as of the Record Date (Anderson joined in 2018) |
| Hedging/Pledging | Hedging prohibited; pledging restricted and requires approvals per policy |
Governance Assessment
- Strengths
- Independent director; chairs Nominations & Governance, overseeing board composition, evaluations, governance policy, and sustainability oversight—signals strong governance leadership.
- Robust engagement: Board met 8x in 2024; N&G met 4x; all directors met ≥75% attendance and attended the 2024 Annual Meeting.
- Ownership alignment: RSUs (time-vested) with attendance condition; directors (≥5 years) exceed ownership guidelines; hedging prohibited and pledging restricted.
- No related-party transactions disclosed—low conflict exposure.
- Watch items
- Board load: Insmed caps directors at four public company boards and she currently serves on four (INSM, GSK, BMRN, RVMD). While within policy, this is at the limit and should be monitored for time/attention risk.
- Director equity is time-based with an attendance threshold (no performance metrics), which is standard for directors but provides limited performance linkage beyond engagement.
No options or special perquisites for directors were reported for 2024; director compensation is a cash retainer plus annual RSUs, with WTW as the independent consultant advising on market-aligned compensation practices.