Thermo Fisher Scientific Inc. added a pair of new members to its board of directors.
Lynch has been the top man at Tyco Electronics since January 2006, about a year before the company split off from Tyco International Ltd. In all, Lynch has been with Tyco for five years. Before that, he was CEO of Motorola’s personal communications segment from 2002 to 2004 and held management positions at General Instrument Corp. Lynch also was appointed to the President’s National Security Telecommunications Advisory Committee in 2004.
Jacks directs the David H. Koch Institute for Integrative Cancer Research at MIT, where he’s been a faculty member since 1992, working on exposing the genetic events that contribute to the development of cancer. Jacks also works as an investigator with the Howard Hughes Medical Institute.
Both men stand to earn a decent wage for what amounts to a part-time job, according to a recent proxy statement.
Board members get an annual retainer of $70,000 for a minimum of six meetings a year and receive annual stock option grants valued at $125,000. Thermo Fisher also donates $10,000 to the board member’s preferred charity.