Genzyme Strengthens Role of Board’s Lead Independent Director
Genzyme Corporation announced that it has taken steps to strengthen the role of its lead independent director, and appointed new leadership to head the board’s audit committee. These actions, along with the recently announced changes to the senior executive incentive compensation plans, further strengthen the company’s corporate governance.
The lead independent director will now have an expanded role in determining the direction of the discussions that take place at the board level, including the approval of full board meeting agendas and materials. Robert Carpenter, president of the privately-held investment company Boston Medical Investors Inc., is currently serving in the role of Lead Director. Mr. Carpenter is also the board chair at Hydra Biosciences, and has served as board chair or CEO at several biotechnology companies. To build continuity with shareholders and company leaders, the role will have a three-year term, should the director be re-elected annually.
New board director Robert Bertolini, the former executive vice president and chief financial officer at Schering-Plough Corp., was also appointed to chair the Audit Committee. Mr. Bertolini, prior to joining Schering-Plough, had a 20-year career at PriceWaterhouseCoopers, and ultimately led the firm’s global pharmaceutical industry practice.
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