Christoph Brackmann
NovoCureAbout Christoph Brackmann
Christoph Brackmann is Chief Financial Officer of Novocure, serving since January 1, 2025; he joined as Senior Financial Advisor in October 2024 after serving as Senior Vice President of Finance at Moderna since 2019 . He is 51 and holds an MBA from SDA Bocconi and a BA in Business & Economics from the University of Mannheim . Company performance context: Novocure generated $605 million in 2024 net revenues (+19% YoY) and achieved $0.8 million Adjusted EBITDA, informing the pay-for-performance framework used for executive bonuses .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Moderna | Senior Vice President, Finance | 2019–2024 | Built finance team and oversaw rapid expansion during COVID-19 |
| Shire plc (acquired by Takeda) | VP Investor Relations and Head of International Finance | Not disclosed | Led IR and international finance efforts |
| Eli Lilly | Various financial roles | Not disclosed | Held multiple finance roles |
| Novartis | Various financial roles | Not disclosed | Held multiple finance roles |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| None disclosed | — | — | No public company board roles disclosed |
Fixed Compensation
| Item | 2025 Terms | Notes |
|---|---|---|
| Base Salary (CHF) | CHF 450,000 | Per CFO employment agreement dated Oct 29, 2024 (effective Jan 1, 2025) |
| Target Bonus (% of base) | 60% | Discretionary annual cash bonus target |
| Equity Eligibility | Eligible under Novocure 2024 Omnibus Incentive Plan | Participation at Board’s discretion |
| Notice Period | 6 months (either party) | Swiss employment agreement summary |
Performance Compensation
Company-wide annual incentive metrics (basis for executive bonus outcomes in 2024; payouts at 90% of target overall):
| Metric | Weight | Target (100% score) | Actual | Score | Weighted Score |
|---|---|---|---|---|---|
| New GBM Patient Starts | 30% | 4,700 patients | 4,546 patients | 97% | 29% |
| New Lung Patient Starts | 15% | 220 patients | <25 patients | —% | —% |
| Reimbursement Pathway Establishment | 15% | NCCN guidelines established | NCCN request submitted | 50% | 8% |
| Clinical Trial Milestones | 20% | METIS topline + PANOVA DB lock + above-budget enrollment (≥3/5 trials) | METIS topline + PANOVA DB lock | 50% | 10% |
| Flex Torso Array Design | 10% | Final design selected; COGS in line | Final design selected; COGS in line | 100% | 10% |
| Adjusted EBITDA | 10% | ≥ ($90M) | $0.8M | 180% | 18% |
| Modifier | — | — | +15% | — | — |
| Cumulative Achievement | — | — | 90% of target bonus paid | — | — |
Note: CFO Brackmann’s 2025 bonus metrics have not been disclosed; his target bonus is 60% of base salary subject to goals set by the CEO/Board .
Equity Ownership & Alignment
- Anti-hedging and anti-pledging policies prohibit hedging, short sales, derivatives, and pledging of company stock; margins are also prohibited .
- Robust stock ownership and retention guidelines apply to senior executives; details for directors are 3× cash retainer, executives are subject to significant share ownership requirements (specific executive multiples not disclosed) .
- Clawback/recoupment policy applies to all executive officers and is intended to comply with applicable listing rules and law .
- Change-in-control treatment under company policy uses double-trigger accelerated vesting (i.e., requires both a CIC and qualifying termination) for executives; non-employee director awards vest in full immediately prior to a CIC under the plan .
- Typical vesting schedules under the plan: options vest ratably over four years; RSUs vest over three years; PSUs have at least a three-year measurement period tied to multi-year revenue, Adjusted EBITDA, and clinical milestones .
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Title | Chief Financial Officer | |
| Start Dates | Senior Financial Advisor (Oct 2024); CFO (Jan 1, 2025) | |
| Employer | Novocure GmbH (Swiss subsidiary) | |
| Reporting Lines | Reports to CEO and Board | |
| Compensation Levers | Base CHF 450k; target bonus 60%; equity eligibility | |
| Notice Period | 6 months (either party) | |
| Non-compete/Non-solicit | Not disclosed in CFO agreement | |
| Governance Backdrop | 2024 say-on-pay approval 98.2%; independent comp consultant; no tax gross-ups |
Investment Implications
- Pay-for-performance alignment: CFO compensation includes at-risk bonus (60% of base) and equity eligibility under a plan emphasizing multi-year PSUs tied to revenue, Adjusted EBITDA, and clinical milestones; corporate policy includes clawbacks and double-trigger CIC vesting, reinforcing alignment and risk controls .
- Retention risk moderate: Swiss agreement with six-month notice period and equity participation under standard vesting schedules provides retention hooks; anti-pledging reduces forced-sale risk from collateral calls .
- Potential selling pressure: No pledging permitted and insider transactions for Brackmann not disclosed in accessible filings; absence of quantified initial equity grants limits visibility into near-term vesting-related supply .
- Execution track record: Prior leadership roles (Moderna, Shire, Lilly, Novartis) suggest capability in scaling finance organizations and investor relations; company’s 2024 operational and clinical achievements underpin a performance-based culture that informs executive payouts (90% of target for 2024), relevant for forward incentive calibration under the new CFO .