**Biogen Announces CFO Retirement and Succession Plan** **

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Biogen Inc. (NASDAQ: BIIB) revealed in an 8-K filing on October 28, 2024, that Michael McDonnell, the Chief Financial Officer, is set to retire from the company effective February 28, 2025. Upon McDonnell’s retirement, Robin Kramer, currently serving as the Chief Accounting Officer and Head of Global Business Services and Treasury, will step into the role of CFO. McDonnell will collaborate closely with Kramer to ensure a seamless transition in the upcoming weeks and months.

Kramer, age 59, joined the company back in 2018 and has been in the position of Senior Vice President and Chief Accounting Officer since December 2020. Before Biogen, she held finance roles at several prominent companies including Hertz Global Holdings, Inc., Fisher Scientific International, Inc., and The Gillette Company. Kramer is a licensed CPA in the Commonwealth of Massachusetts and holds a B.S.B.A. in Accounting from Salem State University.

In terms of compensation, Kramer’s base salary is noted to be $750,000 with eligibility to partake in the company’s annual bonus plan, targeting an 80% bonus of her annual base salary. Her target long-term incentive grant value for 2025 is set at $3,750,000 and will be granted in accordance with the company’s approved LTI plans and guidelines.

The 8-K also outlines that under the existing executive severance plan for Executive Vice Presidents, Kramer will be entitled to specific benefits in case of termination under certain circumstances, ensuring a smooth transition and continuity within the company.

Additionally, the Company issued a press release on the same date, furnishing Exhibit 99.1, disclosing McDonnell’s retirement and Kramer’s appointment as CFO. The press release is made available for public view and is incorporated as part of the filing.

The document further confirms the retirement announcement of Michael McDonnell through a statement released by Biogen, highlighting McDonnell’s instrumental role in repositioning Biogen towards sustainable growth during his tenure, demonstrating strong leadership throughout various strategic initiatives.

Biogen, a prominent biotechnology company established in 1978, focuses on delivering new medicines to enhance patient lives and shareholder value through innovative science. The company’s strategy involves leveraging scientific expertise to pioneer first-in-class treatments and therapies aimed at achieving superior outcomes.

Investors and stakeholders can access important information and updates on Biogen’s website. The company emphasizes a risk-balanced approach to drive long-term growth while ensuring shareholder returns.

Forward-looking statements within Biogen’s communications outline the potential benefits of the company’s commercial operations, aiming at strategic and financial advancements with a focus on innovative programs and investments. However, caution is advised as forward-looking statements are subject to various risks and uncertainties that could impact actual results.

The succession plan marks a significant move in Biogen’s leadership landscape, with Kramer stepping into the CFO role while McDonnell prepares for retirement, signifying a deliberate strategy to ensure continuity and continued growth within the company’s financial operations.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Biogen’s 8K filing here.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.