Xeris Announces Board Changes
Xeris Biopharma Holdings, Inc., a growth-oriented biopharmaceutical company dedicated to enhancing patient care through the development and commercialization of innovative therapies, has announced significant changes to its board of directors. These changes come as part of the company’s ongoing efforts to strengthen leadership, align with strategic priorities, and continue its trajectory of growth in the biopharmaceutical space.
Resignation of Ricki Fairley
One of the key changes to the board is the resignation of Ricki Fairley, who has stepped down due to other professional commitments, effective immediately. Fairley has been an invaluable member of the board, contributing her deep insights into marketing strategies and patient advocacy. During her tenure, she played a critical role in shaping Xeris’ outreach and engagement with the patient community, ensuring that the company remained attuned to the needs of those it serves.
Fairley’s resignation reflects the ever-evolving nature of corporate governance, where board members must often balance multiple high-level responsibilities. Despite her departure, Xeris remains grateful for her contributions and acknowledges the positive impact she has had on the company’s mission and strategic direction.
Appointment of James Brady
To fill the vacancy left by Fairley, Xeris has appointed James Brady as a new director on its board. Brady brings a wealth of experience in the biopharmaceutical industry, with a career spanning over 30 years in various high-level financial and operational roles at AstraZeneca. His expertise in corporate finance, commercial strategy, manufacturing, and market access makes him a highly valuable addition to Xeris’ leadership team.
Throughout his tenure at AstraZeneca, Brady held numerous leadership positions with increasing responsibility. His extensive background includes experience in audit, biologics discovery and development, corporate operations, and international business management. His most recent role before retiring was as Chief Financial Officer (CFO) of MedImmune, AstraZeneca’s biologics discovery and development division. In this capacity, Brady played a pivotal role in overseeing financial planning, ensuring operational efficiency, and fostering innovation within the division.
Beyond his executive career, Brady continues to contribute to the pharmaceutical industry as a member of the Board of Directors of Verona Pharma plc (Nasdaq: VRNA), where he also serves on the Audit Committee. His financial acumen, coupled with his deep understanding of the complexities of the biopharmaceutical sector, positions him as a strategic asset to Xeris. Brady holds a Bachelor of Science degree in Accounting from Saint Joseph’s University and an MBA from Drexel University. He is also a Certified Public Accountant (CPA), further solidifying his credentials as a finance and corporate governance expert.
Upcoming Departure of John Schmid
In addition to these changes, Xeris has announced that John Schmid will not be standing for re-election at the company’s 2025 Annual Stockholders Meeting. Schmid’s departure will coincide with a reduction in the size of Xeris’ board from nine to eight members, reflecting a streamlined approach to governance.
Schmid has served on Xeris’ board with distinction, providing financial and operational oversight that has contributed to the company’s success. His decision not to seek re-election marks the end of an important chapter in Xeris’ leadership history. While he will be stepping down from his formal role, his influence on the company’s strategic decisions and financial planning will be felt for years to come.
Leadership Perspectives on the Changes
Commenting on these board developments, Marla Persky, Chairperson of Xeris’ Board of Directors, emphasized the significance of these transitions and the value that the newly appointed director brings to the company.
“I am honored to welcome Jim to our Board of Directors at this pivotal time in Xeris’ growth journey. Jim is a seasoned and savvy business professional deeply steeped in the biopharmaceutical industry, with broad-ranging public company financial expertise. He will add to the depth and breadth of our board and will be invaluable as we continue to drive innovation and expand our market presence,” said Persky.
She also took the opportunity to acknowledge the contributions of the outgoing board members, stating, “On behalf of the entire Board, I’d like to thank John Schmid for his years of dedication to Xeris and excellent contributions to the Board. We also thank Ricki Fairley for her marketing and patient community insights.”
Persky’s remarks reflect the company’s commitment to ensuring strong leadership continuity while also leveraging new expertise to support Xeris’ evolving needs and long-term goals.
Strategic Implications for Xeris
The restructuring of Xeris’ board comes at a time when the company is focused on scaling its operations and expanding its presence in the biopharmaceutical industry. With a portfolio that includes novel drug formulations and proprietary technologies, Xeris is well-positioned to continue its growth trajectory. The addition of James Brady, with his financial and operational background, is expected to enhance the company’s ability to navigate complex market dynamics and seize new opportunities.
Furthermore, the decision to reduce the board’s size reflects a broader industry trend where companies are optimizing governance structures to improve decision-making efficiency and agility. By aligning the board’s composition with its strategic priorities, Xeris aims to drive sustained innovation, strengthen its financial position, and enhance shareholder value.
As Xeris moves forward with its refreshed board structure, the company remains focused on executing its strategic initiatives, advancing its product pipeline, and reinforcing its commitment to improving patient outcomes. The transition underscores the dynamic nature of corporate leadership and the importance of bringing in expertise that aligns with the company’s mission and growth objectives.
In the coming months, stakeholders can expect continued updates on Xeris’ progress, particularly in relation to its expanding market presence, new product developments, and corporate governance enhancements. With a leadership team that is both experienced and forward-thinking, Xeris is poised to build on its successes and drive meaningful impact in the healthcare space.
