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 Market Report 2015

Sections

Coulter Partners

Most Read

Bringing new life to Life Science Boardrooms

Finding CEOs to face increasing Risk

Improving Board effectiveness through diverse and strategically-aligned hires 3

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Chairmen and Non-Executive Directors carry a level of publically-visible accountability like never before. The composition of the Board is central to the progress of Life Sciences businesses and needs to develop at key stages in their commercial evolution. Strengthening Boards can involve adding specific industry, functional or geographic expertise and skills. However, a Board’s Chairman needs to ensure that there is a balance between engagement in the business and maintaining best practice Governance. Coulter Partners is a world-renowned Life Sciences search organisation, advising the leadership of Pharmaceutical, Biotechnology and MedTech companies. Its consultants discuss how to improve Board effectiveness through diverse and strategically-aligned hires...

Bianca Coulter

Geoff Dobson

1 How and when are you typically asked to help strengthen a life sciences company’s Board?

2 What is more important now; specialist expertise or Board experience?

3 How do Boards balance making a contribution to running the business with ensuring best practice in governance?

4

Clare Evans-Argent

Irene Montgomery

Bianca: Other than appointments arising from normal Board retirements, we typically find that we can add most value when a company faces a critical stage in its evolution; progressing towards the clinic, arriving at the commercial development stage; contemplating an IPO or other financing/corporate development event, entering a new geography or strategic direction, merger or acquisition. After a long period of relative dormancy, and significant financial crisis which caused huge funding challenges for the sector, the capital markets are incredibly buoyant. Investor confidence seems very high and while some fear this is a bubble, there is significant investment flowing into companies, some of whom have ambition to build truly sustainable businesses. We have seen record numbers of Life Sciences IPO’s, obviously particularly in the USA, and confidence in Europe has also blossomed. We have many clients who are searching for Board members both sides of the Atlantic.

What about popular business themes like globalisation, talent and diversity? Are life sciences Boards seriously engaged in these matters or just paying lip-service?

Irene: But Board directors who have gone through the IPO process are in short supply and great demand. Many with experience have now retired. A high percentage of executives experiencing the IPO process are doing so for the first time. As a result pre and post-IPO Board experience is in high demand. We closely monitor Board members who have had experience of helping Life Sciences companies complete successful IPO‘s. Clare: A high-calibre Chairman and Board will help management teams make the cultural transition from private to public ownership. The Board can bring its knowledge to bear on risk management, internal controls, investor and media relations, corporate strategy and development, and of course corporate governance. It can help ensure that the IPO process does not detract from the successful running of the business, and increase investor confidence. Getting the Board right helps maximise the chances of a successful flotation and execution of corporate strategy. Geoff: It is unusual for the Board composition of a private company to have the right mix for IPO preparation or afterwards. We often see Boards made up of founders and investors and lacking independent Board members. If a company is thinking about doing an IPO then it should start changing its Board early enough. Ideally if a new Board member can join a year in advance this allows the new Chairman/Director to get to know the executive team, and fully understand the strengths and development needs of the business. It may not be possible to have everyone in place in time for the IPO but prospective investors will want to see the foundations of a strong Board. City audiences will expect credible non-executives to be appointed to chair the audit and remuneration committees.

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About Coulter Partners Coulter Partners is a retained executive search consultancy exclusively focussed on life sciences. Founded in 2003, they combine access to their global network of talent with meticulous contextual research to locate and deliver the best candidates available for assignments in every functional area of the life science sector. Their diverse, multi lingual team of Consultants combines PhD level scientific understanding with sector experience. Their clients range from early stage, venture backed businesses to global pharmaceutical companies. They serve clients globally from locations in London (UK), Cambridge (Massachusetts), Morristown (New Jersey), Nyon and Basel (Switzerland), Frankfurt and Berlin (Germany) and Copenhagen (Denmark).

Executive Grapevine International Ltd +44 (0)1707 351 451 Rosanne House, Parkway Welwyn Garden City Hertfordshire AL8 6HG United Kingdom +44 (0)1707 808 364

London Office +44 (0)203 744 3456 200 Aldersgate London EC1A 4HD Registered in England and Wales. Company Number: 2789779 VAT Number: 625 9453 20

 Market Report 2015

Sections

Pharmaceuticals & Life Sciences “Life sciences companies are now increasingly focusing on recruiting independent directors, and often prefer those with specific sector expertise. After a wave of corporate scandals a decade ago many life sciences firms behaved like firms in other sectors. They recruited financial specialists and outside executives to their boards.” – Irene Montgomery, Coulter Partners

Pharma & Life Sciences - Board Search (£200K+)

Ranked

Search Firm

Market share of NFI (%)

1

Korn Ferry UK

17.1

2

Spencer Stuart & Associates UK

14.4

3

Coulter Partners UK

14.1

4

Odgers Berndtson (Recruitment)

7.2

5

CTPartners UK

6.8

6

Russell Reynolds Associates UK

6.5

7

Egon Zehnder UK

5.2

8

Heidrick & Struggles UK

3.8

9

Boyden UK

3.6

10

Euromedica UK

3.3

Featured Consultant Listings Blackwood Group Eleanor Davies Coulter Partners UK Bianca Coulter Arnaldo De Lisio Egon Zehnder UK Mark S Byford Natalia Kozmina Laurence Monnery

Hanson Search Janie Emmerson Amy Hayer

Korn Ferry UK Patrick Mooney Jacques Police Norman Broadbent Renu Vijh

Norman Broadbent UK David Jay Odgers Berndtson (Recruitment) Christopher Hamilton John Jakenfelds Odgers Berndtson UK Douglas Hutchison

View more consultant listings 

FTSE Board Appointments Include SMITH & NEPHEW PLC

Vinita Bali, Non-Executive Director

ASTRAZENECA PLC

Ann Cairns, Non-Executive Director

HIKMA PHARMACEUTICALS PLC

Mr Said Darwazah, Chairman & Chief Executive

SYNERGY HEALTH PLC

Bruce Edwards, Non-Executive Director

BTG

Dr Susan Foden, Non-Executive Director

SMITH & NEPHEW PLC

Michael Friedman, Chairman of the Ethics & Compliance Committee

View more appointments 

Pharma & Life Sciences - All Firms, All Assignments

Ranked

Search Firm

Market share of NFI (%)

1

Korn Ferry UK

13.2

2

Coulter Partners UK

11.6

3

CTPartners UK

9.4

4

Spencer Stuart & Associates UK

9.2

5

The RSA Group (International)

8.1

6

Odgers Berndtson (Recruitment)

5.9

6=

Russell Reynolds Associates UK

5.9

8

Euromedica UK

5.1

8=

Heidrick & Struggles

5.1

10

Egon Zehnder UK

3.7

11

Norman Broadbent

2.6

12

Boyden UK

2.2

Most Read

Executive Grapevine International Ltd +44 (0)1707 351 451 Rosanne House, Parkway Welwyn Garden City Hertfordshire AL8 6HG United Kingdom +44 (0)1707 808 364 [email protected] Find us on Google Maps

London Office +44 (0)203 744 3456 200 Aldersgate London EC1A 4HD Registered in England and Wales. Company Number: 2789779 VAT Number: 625 9453 20