Wei Jiang
WATERS CORP /DE/About Wei Jiang
Wei Jiang, 61, has served as an independent director of Waters Corporation since 2021, bringing 25+ years of pharma and medical device leadership with deep Asia-Pacific operating experience; he serves on Waters’ Science & Technology Committee. His prior senior roles include EVP/President of Bayer Pharmaceuticals for China/Asia Pacific and President of Bayer Group Greater China; he holds a BBA from Campbell University and an MA in Economics and Finance from Indiana State University. He also serves on the board of STAAR Surgical Company (NASDAQ: STAA) since March 2024.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Bayer AG | EVP, President Pharmaceuticals Region China & Asia Pacific; President of Bayer Group Greater China | 2015–2021; 2019–2021 | Led Asia-Pacific growth initiatives and partnerships, enhancing Waters’ board oversight on regional risks/opportunities |
| AstraZeneca plc | SVP, GRA BU & Key Accounts; other senior management roles | 2011–2012; 2006–2010 | Commercial leadership in biopharma markets |
| Guidant Corporation | Managing Director, China Operations | 2004–2006 | Built device operations in China |
| Eli Lilly & Company | Various management roles | 1999–2004 | Pharma commercial/operations leadership |
External Roles
| Company | Role | Start Date | Committees |
|---|---|---|---|
| STAAR Surgical Company (NASDAQ: STAA) | Director | March 2024 | Not disclosed in WAT proxy |
Board Governance
- Committee assignments: Science & Technology Committee member; committee met 2 times in 2024 (Chair: Dr. Pearl Huang; members: Wei Jiang, Christopher Kuebler).
- Independence: Waters’ Board determined all directors other than the CEO are independent under NYSE standards (Wei Jiang is independent).
- Attendance and engagement: Board held 11 meetings in 2024; all directors attended at least 75% of aggregate Board and committee meetings for their period of service and attended the 2024 annual meeting.
- Director stock ownership guidelines: Non-employee directors must hold at least 5x annual retainer within 5 years; Mr. Jiang, appointed in 2021, has until 2026 to comply and has not yet satisfied the guideline but remains within his compliance window.
- Shareholder engagement and Say-on-Pay: Waters’ 2024 Say-on-Pay support was ~80% of votes cast, indicating generally favorable investor sentiment toward compensation governance.
Fixed Compensation
| Component | 2024 Detail |
|---|---|
| Cash fees (Board/Committee/Meetings) | $91,000 |
| Restricted stock grant | 334 shares on Jan 2, 2024 at $328.62 per share; vests Jan 2, 2025 |
| Stock options grant | 847 options on Jan 2, 2024 at $328.62 exercise price; vests Jan 2, 2025 (1-year term for director grants) |
| Total 2024 director compensation | $310,657 |
| Standard program terms | Annual cash retainer $70,000; $1,500 per Board/committee meeting; committee chair retainers: Audit/Comp/Nominating $15,000; Science & Technology $10,000; director equity awards ~$220,000 split 50% restricted stock/50% options; 1-year vest |
Additional incentives/deferrals:
- Deferred compensation election: Mr. Jiang deferred $91,000 of 2024 fees into 270.22 stock units; aggregate stock unit balance 938.27 at FY-end.
Performance Compensation
- Director compensation is not tied to operating performance metrics (no PSUs or formulaic targets for directors); equity awards (restricted stock and options) have time-based vesting with options aligned to stock price appreciation.
Other Directorships & Interlocks
| External Company | Relationship to WAT | Potential Interlock/Conflict Notes |
|---|---|---|
| STAAR Surgical Company (STAA) | Independent director | No related-party transactions involving Mr. Jiang or STAA are disclosed; Waters’ policy pre-approves “ordinary course” transactions with Galderma, Avient, and Baxter (linked to other directors), not STAAR. |
- Compensation Committee interlocks: Waters disclosed no compensation committee interlocks or insider participation in 2024.
Expertise & Qualifications
- Asia-Pacific pharma/biopharma market expertise; international operations, partnerships, and growth strategy execution.
- Education: BBA (Campbell University); MA in Economics and Finance (Indiana State University).
Equity Ownership
| Category | Amount | Notes |
|---|---|---|
| Total beneficial ownership | 5,829 shares; less than 1% of outstanding | As of March 24, 2025; <1% per proxy |
| Direct common shares | 1,419 | Held directly |
| Stock units (Director Deferred Compensation Plan) | 398 | Convertible if service ends |
| Options exercisable within 60 days | 4,012 | Director options |
| Outstanding director options | 3,194 | As of Dec 31, 2024 |
- Hedging/pledging policy: Waters’ Insider Trading Policy prohibits hedging, short sales, and certain derivatives; applies to directors.
- Ownership guideline compliance: 5x retainer required by 2026; Mr. Jiang not yet compliant but within timeline.
Governance Assessment
- Strengths: Independent director with deep regional operating experience; active on Science & Technology Committee, which bolsters oversight of innovation and technology strategy. Attendance metrics indicate robust Board and committee engagement; director equity and ownership guidelines support alignment (with deferred stock units indicating longer-term orientation).
- Alignment & incentives: Director pay mix includes time-based equity and options; no performance-linked director equity (reduces risk of metric gaming but relies on market alignment via options). Deferred fee elections into stock units enhance alignment.
- Conflicts/related party risk: No STAA-related transactions disclosed; Waters’ related party framework routes any interested transactions to Audit & Finance with Board oversight and lists certain pre-approved ordinary-course transactions tied to other directors (Galderma, Avient, Baxter), indicating transparent handling of interlocks.
- RED FLAGS: None disclosed specific to Mr. Jiang on attendance, say-on-pay opposition, pledging/hedging, or related-party transactions; Mr. Jiang is within guideline compliance window but not yet at 5x retainer—monitor progress to the 2026 deadline.