James M. Daly
MADRIGAL PHARMACEUTICALSAbout James M. Daly
Independent Class I director at Madrigal Pharmaceuticals (since June 2019); age 63. Daly has 30+ years leading U.S. and global biopharma franchises, including EVP & Chief Commercial Officer at Incyte (2012–2015), senior leadership at Amgen (culminating as SVP, North America Commercial Operations, Global Marketing & Commercial Development), and 16+ years at Glaxo Wellcome/GlaxoSmithKline (culminating as SVP/GM, Respiratory & Anti‑Infectives). He holds a B.S. in Pharmacy and an M.B.A. from the University at Buffalo (SUNY).
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Incyte | EVP & Chief Commercial Officer | 2012–2015 | Led commercialization; senior operator at a large-cap biotech |
| Amgen | Senior leadership culminating as SVP, North America Commercial Operations, Global Marketing & Commercial Development | Ten-year period (dates not specified) | Ran North America commercial ops and global marketing/commercial development |
| Glaxo Wellcome/GlaxoSmithKline | Roles of increasing responsibility, culminating as SVP/GM, Respiratory & Anti‑Infective BU | Over 16 years | P&L leadership in respiratory/anti-infectives |
External Roles
| Company | Role | Since/Through | Notes |
|---|---|---|---|
| Acadia Pharmaceuticals (NASDAQ: ACAD) | Director | Since Jan 2016 | Public company directorship |
| argenx SE (NASDAQ: ARGX) | Director | Since May 2018 | Public company directorship |
| Chimerix | Director | Jun 2014–Jun 2020 | Former directorship |
| Bellicum Pharmaceuticals | Director | May 2016–Jun 2023 | Former directorship |
Board Governance
| Item | Details |
|---|---|
| Board class/term | Class I; term ends at the 2026 Annual Meeting |
| Independence | Board determined Daly is independent under Nasdaq rules |
| Committees | Audit Committee (member); Nominating & Governance Committee (member) |
| Chair roles | None (Audit Chair: Bate; N&G Chair: Baker) |
| Attendance | Each director attended ≥75% of Board/committee meetings in 2024; nine directors attended 2024 AGM |
| Board leadership | Independent Chair (Julian C. Baker); regular executive sessions of non‑executive directors |
Fixed Compensation (Director)
| Component (2024) | Amount |
|---|---|
| Board retainer (non‑employee director) | $50,000 (policy) |
| Audit Committee member fee | $10,000 (policy) |
| Nominating & Governance Committee member fee | $5,000 (policy) |
| Total cash paid to Daly (2024) | $65,000 |
Performance Compensation (Director equity – time‑based, no performance metrics)
| Grant | Detail | Vesting | Value |
|---|---|---|---|
| Annual director grant (Jun 25, 2024) | 714 RSUs + stock option for 1,105 sh @ $280.04 | RSUs and option vest in full on 1‑year anniversary (subject to service) | Daly 2024 equity grant fair value: $399,887 |
No director PSUs or performance-conditioned equity disclosed; equity is time-based for directors in 2024.
Other Directorships & Interlocks
- Network interlock: Daly and Madrigal’s independent Chair, Julian C. Baker, both serve on Acadia’s board (potential information-flow network; not a related-party transaction).
- Compensation Committee interlocks: Company discloses none; Daly is not on Madrigal’s Compensation Committee.
Expertise & Qualifications
- Commercialization/sales & marketing leadership; public company management/governance; global competition/positioning; corporate accounting/finance exposure (as per Board Skills Matrix).
- Career track record leading large commercial organizations at Amgen and GSK; CCO at Incyte (commercial execution credentials).
Equity Ownership
| Item | Amount/Status |
|---|---|
| Beneficial ownership | 1,198 shares; <1% of outstanding |
| Director outstanding equity (12/31/2024) | 16,575 options outstanding; 714 RSUs outstanding |
| Hedging/pledging | Company prohibits pledging and hedging by directors/officers (alignment positive) |
Governance Assessment
- Board effectiveness and independence: Daly is independent and serves on two key governance bodies (Audit; Nominating & Governance), supporting financial oversight and board composition/refreshment. Audit Committee is fully independent; “audit committee financial expert” designations sit with other members (Bate, Fouse), balancing skills on the committee.
- Engagement/attendance: Met the company’s ≥75% attendance bar; board-level AGM participation was strong in 2024 (nine directors attended).
- Compensation alignment for directors: Mix is equity-heavy (time-based RSUs/options) plus cash retainers and committee fees; Daly received $65k cash and ~$400k equity in 2024, broadly standard for commercial-stage biotech peers; no performance-conditioned equity for directors (reduces short-term risk incentives).
- Ownership alignment: Direct ownership is modest (<1%), but ongoing RSU/option exposure aligns director interests; hedging/pledging prohibitions strengthen alignment.
- Conflicts/related-party risk: No Daly-related party transactions disclosed; Audit Committee (on which Daly sits) pre-approves related party transactions under a formal policy. Network interlock with Chair Baker at Acadia is notable but not inherently conflicted; continued monitoring recommended.
- Shareholder sentiment signal: Say‑on‑pay support was 95% in 2024 (for executives), indicating broad investor confidence in overall compensation governance, a positive backdrop for board oversight.
RED FLAGS: None disclosed specific to Daly. No pledging, no related‑party transactions, and attendance thresholds met. Interlock with the Chair at Acadia warrants awareness but is not per se a conflict under disclosed policies.