Prominent physician-executive William Roper joined the board of directors of Medco Health Solutions, a Franklin Lakes, N.J.-based pharmacy benefit manager last week.
Roper, 59, is dean of the School of Medicine, vice chancellor for medical affairs and chief executive officer at the University of North Carolina Health Care System, Chapel Hill.
The Nov. 20 announcement of his election was followed by the Nov. 29 announcement that Medcos stock would be splitting Jan. 10, 2008, which will affect some of Ropers stock or option holdings, according to a Medco spokeswoman, who declined to provide details.
All Medco directors receive an annual retainer of $50,000, a meeting fee of $2,000 for each in-person meeting, $1,000 for each telephone meeting, annual equity awards and 5,000 Medco shares within three years of joining the board, according to an e-mail response from a Medco spokeswoman. In 2006, the total compensationincluding cash, stock and option awardsfor the nine members of Medcos board of directors ranged from $22,757 to $371,366, depending on their length of service, according to a filing with the Securities and Exchange Commission.
Roper is a director at renal-care provider DaVita, which is under investigation by Nevadas attorney general (Nov. 12, p. 12), and is board chairman for the National Quality Forum and a board trustee for the Robert Wood Johnson Foundation.