Acorda Therapeutics (ACOR +0.00%) today announced its selection of a new CFO. Michael Rogers replaces David Lawrence, who has been named chief of business operations.
Rogers has more than 20 years experience in the biopharmaceutical industry. Prior to joining Acorda, he was CFO and executive vice president of BG Medicine. He also served as CFO of Indevus Pharmaceuticals, which is now a unit of Endo Health Solutions.
Rogers will be paid an annual salary of $400,000 and be eligible to earn a bonus of up to 50% of that amount (this will be prorated for 2013), according to an SEC filing from the company. He will also be paid a signing bonus of $100,000, which is "subject to repayment under certain circumstances on a pro rata basis over a four-year period." Additionally, he will eligible for stock options. Lastly, the company has agreed to cover "the reasonable cost" of an apartment for its new CFO.
