Angela Hwang
UNITED PARCEL SERVICEAbout Angela Hwang
Angela Hwang (age 59) is an independent director of UPS, serving since 2020; she is a member of the Audit Committee. She is CEO-Partner at Flagship Pioneering and CEO of Metaphore Biotechnologies (since 2025). She holds a B.S. in Microbiology from the University of Cape Town and an MBA from Cornell University’s Johnson School of Management .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Pfizer, Inc. | Chief Commercial Officer; President, Global Biopharmaceuticals Business | 2019–2023 | Led global commercial operations across 185 countries; oversaw distribution of 600+ medicines; pivotal in COVID-19 vaccine and oral antiviral launches, scaling temp-sensitive logistics |
| Pfizer, Inc. | Group President, Essential Health | 2018 | Managed mature products portfolio and global operations |
| Pfizer, Inc. | Global President, Inflammation & Immunology | 2015–2017 | Led disease area strategy and commercialization |
| Pfizer, Inc. | Regional President, Vaccines US | 2014–2015 | Led U.S. vaccines commercial operations |
| Pfizer, Inc. | VP roles in Emerging Markets and Established Products; earlier roles | 1997–2013 | Built global partnerships with insurers, governments, and stakeholders; extensive multinational leadership |
External Roles
| Organization | Role | Dates | Notes / Potential Interlocks |
|---|---|---|---|
| Flagship Pioneering | CEO-Partner | 2025–Present | Bioplatform venture creation; sector overlap with healthcare logistics customers |
| Metaphore Biotechnologies (Flagship-founded) | CEO | 2025–Present | Biotechnology R&D; potential ecosystem overlap with UPS Healthcare |
| Connecticut Innovations | Board Member | Not specified | State-backed innovation capital; no UPS related-party transactions disclosed |
| Cornell Johnson School of Management | Advisory Council | Not specified | Academic advisory role |
Related-party safeguards: UPS reports no related person transactions since Jan 1, 2024 requiring disclosure, and uses an Audit Committee pre-approval/ratification policy for any such transactions over $100,000; immaterial ordinary course transactions exist but are deemed reasonable and competitive .
Board Governance
- Committee assignments: Audit Committee member; the Audit Committee met 11 times in 2024 .
- Independence: The board determined all current directors except the CEO are independent; Audit and Compensation committees meet enhanced independence criteria .
- Attendance: All directors attended at least 75% of board/committee meetings; all directors attended the 2024 Annual Meeting .
- Board leadership: Independent Board Chair (William Johnson); executive sessions of independent directors at each regular meeting .
Fixed Compensation
| Component | 2023 | 2024 | Notes |
|---|---|---|---|
| Annual Cash Retainer | $116,250 | $120,000 | Board increased retainer to $120,000 effective Aug 2023; further increased to $125,000 beginning in 2025 |
| RSU Award Value (annual) | $179,875 | $185,000 | Increased to $185,000 in Aug 2023; further increased to $195,000 in 2025 |
| Committee Chair Fees (if applicable) | N/A | N/A | Audit Chair fee: $25,000 (2024), rising to $30,000 in 2025; Hwang is not Chair |
| Total Director Compensation (Hwang) | $296,125 | $305,000 | CEO receives no board pay; dividends on RSUs reinvested |
- RSUs: Fully vested at grant; must be held until separation from the board, then convert to Class A shares; dividends reinvested as additional units .
Performance Compensation
| Feature | Detail |
|---|---|
| Performance-based pay elements for directors | None; director equity is time-based RSUs, fully vested at grant, with mandatory hold-until-departure |
| Options for directors | Not provided; director equity reported as RSUs |
| Clawback | Executive incentive clawback policy adopted; director compensation is not subject to performance clawback mechanisms |
| Hedging/Pledging | Prohibited for directors (no derivatives, no pledges, no short sales) |
Other Directorships & Interlocks
| Company/Body | Type | Potential Interlock with UPS |
|---|---|---|
| Flagship Pioneering / Metaphore Biotechnologies | Private biotech/venture | Sector overlap with UPS Healthcare logistics; UPS discloses immaterial ordinary course transactions with companies linked to directors; independence affirmed |
| Connecticut Innovations | Public investment entity | No conflicts disclosed; routine immaterial transactions policy applies |
| Cornell Johnson Advisory Council | Academic | Not a commercial counterparty |
Expertise & Qualifications
- Global operations and healthcare logistics: Led Pfizer commercial operations in 185 countries; extensive distribution oversight of 600+ medicines .
- Crisis logistics credentials: Key role in scaling temperature-sensitive, time-critical distribution for COVID-19 vaccine and oral antiviral launches .
- Sales/marketing leadership: Managed global sales and marketing teams, partnerships, and portfolio growth .
- Financial/operational oversight: Brings a lens on business financials to Audit Committee work .
Equity Ownership
| Item | 2023 | 2024 | Notes |
|---|---|---|---|
| RSUs outstanding (as of year-end) | 4,268 units | 5,780 units | RSUs held until board separation; convert to Class A at separation |
| Beneficial share ownership (earlier disclosure) | 2,017 Class A shares (as of March 1, 2022) | — | Newer director-specific beneficial ownership not itemized in 2025 proxy sections read |
| Ownership guidelines | Directors: 5× annual retainer; expected to reach within 5 years | Directors: 5× annual retainer; unchanged | RSUs count toward ownership; pledged shares excluded |
| Hedging/Pledging status | Prohibited | Prohibited | Company-wide policy |
Governance Assessment
- Board effectiveness: Hwang strengthens UPS’s Audit Committee with deep healthcare and global distribution experience, valuable for UPS Healthcare growth and risk oversight; independence and attendance standards are met .
- Alignment and pay structure: Director compensation mix is cash + RSUs with mandatory hold-until-departure, enhancing long-term alignment; year-over-year adjustments modernize competitiveness without adding performance risk to director pay .
- Conflicts and related-party risk: UPS reports no related person transactions requiring disclosure and maintains robust pre-approval policies; ordinary course transactions with director-associated entities are immaterial and competitively priced, mitigating conflict risk .
- Investor confidence signals: High say-on-pay support (2023 ~92%; 2024 ~87%) and adoption of clawback and overboarding policies reflect responsive governance practices .
- Red flags: None observed in pledging/hedging, related-party transactions, or attendance; potential time-commitment risk from concurrent CEO roles is mitigated by UPS’s independence review and overboarding policy adoption .
Overall: Hwang’s domain expertise in global healthcare logistics and commercialization complements UPS’s strategic focus areas, with low conflict risk and strong alignment through RSU holding requirements .