Amgen Inc. appointed David W. Meline as its chief financial officer on Monday luring him from 3M with a $2 million signing bonus.
Meline will begin in his position at the Thousand Oaks biotech on July 21 and be responsible for Amgen’s finance and investor relations operations, reporting to Robert A. Bradway, the company’s chairman and chief executive.
Meline replaces Michael A. Kelly, who served as acting CFO since January 2014 when Jonathan Peacock stepped down to “pursue broader career opportunities.”
Meline, 56, comes from 3M, the St. Paul, Minn. conglomerate where he most recently served as CFO. Previously, he worked for General Motors in various international roles and locations.
Meline’s base salary will be $900,000. He will receive half of his bonus after 30 days of employment, and the remainder after a year. Both can be recouped if he resigns within 24 months, according to a regulatory filing with the Securities and Exchange Commission.
Meline received an MBA in finance from the University of Chicago, a master’s in economics from the London School of Economics and a bachelor’s in mechanical engineering from Iowa State University.
“David’s leadership talent and broad international experience will be invaluable to Amgen as we execute our strategy for long term growth and bring our pipeline of medicines toward commercialization in a number of new markets,” said Bradway, in a statement.
Shares closed down $1.42, or about 1.2 percent, to $116.40 on the Nasdaq.