Xeris Biopharma has expanded its board from eight members to nine and appointed Menassie Taddese as an independent director, effective November 2. Taddese will also join the audit committee, bringing experience in pharmaceutical-company leadership and finance.
- Board role: Taddese is a Class II director, with a term running through the company’s 2029 annual meeting. The board determined that he meets Nasdaq’s independence standards, including those that apply to audit committee members.
- Industry and finance experience: He has been a senior adviser to Dubai-based Emerging Markets Intelligence & Research since 2023. Before that, he was president of emerging markets at Viatris from 2020 to 2022, following more than two decades at Pfizer in finance, commercial and general management roles.
- Other board service: Taddese is a director and audit committee chair at Medexus Pharmaceuticals.
- Compensation: His initial equity award consists of stock options and restricted stock units with a combined grant-date value of about $450,000. The initial award vests in three equal annual installments, subject to continued board service. Beginning with the 2027 annual meeting, he will be eligible for annual equity awards valued at about $300,000; those awards generally vest at the earlier of one year after grant or the next annual meeting, also subject to continued service.
- Other arrangements: Taddese will receive cash compensation under Xeris’ existing non-employee director program and has entered into the company’s standard director indemnification agreement.
The appointment adds a ninth seat to the board and places Taddese on the audit committee. His background includes senior pharmaceutical roles and audit committee experience at another drug company.