Utah Business

2024 Outstanding Directors

Merit Medical | 2024 Outstanding Directors

2024 Outstanding Directors

Public Company Board of the Year

Fred Lampropoulos | Founder, Chairman, CEO

Ann Millner, Ed.D. | Lead Independent Director

A. Scott Anderson

Lonny J. Carpenter

Rear Admiral (Ret.) Stephen C. Evans

David K. Floyd

Thomas J. Gunderson

Laura S. Kaiser

Michael R. McDonnell

Lynne N. Ward 

What important asset can an individual bring to a board? 

One important quality a board member can offer is the ability to connect the dots from an objective view of the various functions of a company. Pointing out the strengths and weaknesses of the company in a productive manner helps grow the business for the benefit of the shareholders, employees and customers.

How has the organization assessed its performance during its journey toward board excellence? 

Merit is a public company. As a board, we are elected by the shareholders, and we represent the shareholders. One important way we measure our success is by the stock price performance. Stock performance for Merit is related to revenue growth, leveraging operating margin and earnings, free cash flow and reduced risk through steady, predictable quarterly and annual results.

When has the board and management worked together to navigate a complex challenge? 

The board, in discussion with management, outside consultants and key investors, formed an operating committee that initiated longer-term financial goals. The first set of these three-year goals was set just months before COVID-19 hit the U.S. economy. Health care systems were disrupted, and Merit’s plans had to be adjusted. The board supported management’s revised plans but kept the three-year goals in place. In the end, the goals were met or exceeded on time.

What should directors understand before taking a board seat? 

They should understand the complex and important functions of corporate culture and human resources. Hiring, firing, developing new management, providing a safe and welcoming workplace, etc., are all keys to a successful company. Each company is unique in its culture and in how it implements corporate goals. With Merit Medical and its M&A activities, understanding corporate culture is crucial to the successful integration of a new acquisition.

Savannah Beth Withers Taylor is the assistant editor of Utah Business and a graduate of the editing and publishing program at Brigham Young University. Beth has written content about travel, academics, and mental health for Stowaway magazine, BYU College of Humanities and United Way. She enjoys traveling, reading, eating, and mercilessly defeating loved ones in anything competitive.