Laureen DeBuono
About Laureen DeBuono
Laureen DeBuono (age 67) has served on Rani Therapeutics Holdings, Inc.’s board since April 2021. She is Partner at FLG Partners (since October 2011) and served as Managing Partner from May 2020 through early 2025; prior operating and advisory roles include CEO (Govino), Interim CFO (HotelTonight), COO (Circa of America), and advisor/CFO roles at Rodan & Fields and BuildDirect. She holds a B.A. (Duke), M.A. (Stanford), and J.D. (NYU) and is Rani’s Lead Independent Director and the Board-designated audit committee financial expert, signaling deep finance and governance expertise .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Govino, LLC | Chief Executive Officer; Director | Aug 2018 – Dec 2019 | Led sustainable consumer products operations |
| HotelTonight | Interim CFO; Advisor to CEO | Feb 2018 – Apr 2019 | Assisted pre-acquisition by Airbnb |
| Circa of America, LLC | Chief Operating Officer | May 2017 – Feb 2018 | Private-label textiles operations |
| Rodan & Fields, LLC | Advisor to Board; Interim CFO | Jul 2014 – Sep 2016 | Finance leadership in consumer skincare |
| BuildDirect Technologies Inc. | Advisor to CEO and Board | Sep 2016 – Jan 2017 | Advisory support during restructuring |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| FLG Partners, LLC | Partner; Managing Partner | Partner: Oct 2011 – present; Managing Partner: May 2020 – early 2025 | CFO advisory; firm leadership |
| Turtle Beach | Director (public company) | Jan 2014 – Jan 2017 | Board service in gaming accessories |
Board Governance
| Attribute | Status | Notes |
|---|---|---|
| Independence | Independent director (Nasdaq standards) | Affirmatively determined independent by Board |
| Lead Independent Director | Yes | Appointed Lead Independent Director; empowered on agendas, sessions of independent directors, liaison duties, and CEO evaluation topics |
| Committee Memberships | Audit (Chair); Compensation (Member) | Audit Chair; Compensation Committee member |
| Attendance | ≥75% in FY2024 | Board met 8 times; all directors attended ≥75% of Board and committee meetings |
| Executive Sessions | Yes (Comp Committee) | Compensation Committee meets regularly in executive session |
- Audit Committee: DeBuono chairs; committee met 4 times in FY2024; Board designated her as the “audit committee financial expert” based on education and executive experience .
- Compensation Committee: Member; committee met 3 times in FY2024; uses independent consultant Radford and conducts annual objective-setting and pay design; CEO excluded from his own pay deliberations .
Fixed Compensation
| Component | Amount (USD) | Basis/Notes |
|---|---|---|
| Cash fees (FY2024) | $52,500 | Actual 2024 director cash received |
| Board retainer (policy) | $45,000 | Non-employee directors annual retainer |
| Lead Independent Director retainer (policy) | $35,000 | Additional annual cash retainer |
| Audit Committee Chair retainer (policy) | $20,000 | Annual cash retainer for chair |
| Compensation Committee member retainer (policy) | $5,000 | Annual cash retainer for member |
| Cash reduction overlay | 50% reduction in 2024; extended through 2025 | Reduction until funding Threshold met; explains lower cash paid vs policy |
Performance Compensation
| Metric | Value | Vesting/Terms | Notes |
|---|---|---|---|
| Option awards (FY2024 grant fair value) | $183,245 | Time-based vesting per policy | Grant date fair value (Topic 718) |
| Annual option grant size (2024 policy) | 50,000 shares | Vests by next annual meeting or 1st anniversary | Exercise price $5.00; 10-year term; CIC acceleration |
| New director initial grant size (policy) | 100,000 shares | 1/3 on 1st anniversary; balance monthly over 36 months | Time-based vesting; 10-year term; CIC acceleration |
| Performance metrics tied to director equity | None disclosed | N/A | Options are time-vested; no performance-vesting disclosed |
Other Directorships & Interlocks
| Company | Role | Tenure | Potential Interlock/Conflict |
|---|---|---|---|
| Turtle Beach (public) | Director | Jan 2014 – Jan 2017 | None disclosed with Rani |
Expertise & Qualifications
- Audit committee financial expert designation; Board cited education and CFO/CEO/GC experience at public reporting companies and large healthcare firms .
- Legal and financial training (J.D., NYU; B.A., Duke; M.A., Stanford); finance and healthcare/medtech operating experience .
Equity Ownership
| Holder | Class A Shares Beneficially Owned | % of Class A | Notes |
|---|---|---|---|
| Laureen DeBuono | 328,588 | 1% | Comprised of options exercisable within 60 days of 3/31/2025 |
- Hedging/pledging: Company policy prohibits hedging, short sales, trading in derivatives on Company stock, margin purchases, and pledging; supports alignment and reduces conflict risk .
Governance Assessment
- Strengths: Independent director serving as Lead Independent Director; chairs Audit Committee and is the designated audit committee financial expert; participation meets attendance threshold; Compensation Committee independence and use of third-party consultant enhance governance rigor .
- Compensation alignment: 2024 director pay skewed to equity (options), with cash reduced by 50% given financial position; annual option grants moved from dollar-denominated to fixed-share grants in March 2024, improving transparency but increasing share-count sensitivity to dilution .
- Related-party environment: Significant related-party transactions and family control (Chairman, CEO, CSO) create governance complexity; Audit Committee (chaired by DeBuono) oversees related-person transactions, which helps mitigate conflict risk .
- RED FLAGS to monitor: Company-wide option repricing occurred in December 2023 for certain outstanding unvested options (primarily executives per disclosure), a general governance sensitivity; ensure future grants remain shareholder-friendly and performance-aligned where applicable .