Arbutus Biopharma Overhauls Board and Appoints New Chief Executive Officer

Arbutus Biopharma Corporation (NASDAQ: ABUS) announced sweeping changes to its board of directors and executive leadership in a Form 8‑K filing dated February 24, 2025.

The filing revealed that all seven members of the existing board – including Chair Frank Torti, Michael J. McElhaugh, Daniel Burgess, Richard C. Henriques, Keith Manchester, M.D., James Meyers, and Melissa V. Rewolinski, Ph.D. – resigned effective immediately. The company emphasized that the departures were not due to any disagreements regarding its operations, policies, or practices.

Concurrently, Arbutus appointed five new directors—Lindsay Androski, Robert Alan Beardsley, Joseph Bishop, Matthew Gline, and Anuj Hasija—to serve until the 2025 annual general meeting or until a successor is appointed. The new board, reduced in size from seven to five directors, designated Androski as chairperson. In addition, committee assignments were made:
• Mr. Beardsley, Mr. Bishop, and Mr. Hasija were named to the Audit Committee, with Mr. Bishop also serving as chair and audit committee financial expert.
• Mr. Beardsley, Mr. Bishop, and Mr. Gline joined the Executive Compensation and Human Resources Committee, with Mr. Beardsley as its chair.
• Mr. Bishop, Mr. Gline, and Mr. Hasija were named to the Corporate Governance and Nominating Committee, with Mr. Gline as chair.
Notably, three of the newly appointed directors are affiliated with Roivant Sciences Ltd., a significant beneficial owner of Arbutus’s common shares as previously disclosed.

Along with the board reshuffle, the company announced the appointment of Lindsay Androski as President and Chief Executive Officer, effective immediately. Androski, who succeeds Michael J. McElhaugh in the interim role, brings a background in strategic acquisitions, trial law, and executive leadership from her tenure at Roivant and other roles. Under her employment agreement, she will receive an annual base salary of $515,000, be eligible for a performance bonus targeting 45% of her base salary, and receive an initial stock option grant with an estimated cash value of approximately $750,000. The agreement also outlines severance provisions in the event of termination without cause or resignation for good reason.

In a separate exhibit within the filing, the company included a press release from Fulcrum Therapeutics reporting its fourth quarter and full year 2024 financial results and business highlights. The Fulcrum update focused on the progress of its Phase 1b PIONEER trial evaluating pociredir for the treatment of sickle cell disease, financial performance metrics, and plans for upcoming clinical data releases.

Arbutus Biopharma’s leadership transition is part of its strategic efforts to realign its board and executive team as it advances its business objectives. The new appointments are expected to direct the company’s future initiatives and strengthen its governance framework.

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

About Arbutus Biopharma

Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection in the United States. Its HBV product pipeline consists of imdusiran (AB-729), a proprietary subcutaneously-delivered RNAi therapeutic product candidate that suppresses all HBV antigens, including HBsAg expression.