---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-169190"
form_type: "8-K"
ticker: "MDGL"
cik: "0001157601"
company_name: "MADRIGAL PHARMACEUTICALS, INC."
filed_at: "2023-06-20T23:59:59+00:00"
generated_at: "2026-06-13T20:39:25.710770+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Madrigal appoints Julian Baker as Chairman, adds two Baker Bros. affiliates to board

## Summary
- Keith Gollust and David Milligan resigned as Class III directors effective June 15, 2023; no disagreement cited.
- Julian Baker appointed independent Chairman; Raymond Cheong also appointed as Class III director.
- Both new directors are affiliated with Baker Bros. Advisors LP, a significant shareholder.
- Baker Bros. waived director nomination rights under Securities Purchase Agreement while Baker or Cheong serve.
- CEO Paul Friedman remains; Chairman and CEO roles separated.

## SEC filing metadata
- accession: 0001193125-23-169190
- form_type: 8-K
- ticker: MDGL
- cik: 0001157601
- company_name: MADRIGAL PHARMACEUTICALS, INC.
- filed_at: 2023-06-20T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1157601/000119312523169190/0001193125-23-169190-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1157601/000119312523169190/d480541d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-169190
- JSON: https://secwatch.observer/filing/0001193125-23-169190.json
- Plain text: https://secwatch.observer/filing/0001193125-23-169190.txt

## Key facts
- Executive change
  David Milligan resigned as Class III Director at MADRIGAL PHARMACEUTICALS, INC..
  - Action: resigned
  - Role: Class III Director
  source text: On June 15, 2023, Keith R. Gollust and David Milligan, Ph.D., each Class III directors on the Board of Directors (the “Board”) of Madrigal Pharmaceuticals, Inc. (the “Company”), resigned from the Board, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1157601/000119312523169190/0001193125-23-169190-index.htm
- Executive change
  Raymond Cheong was appointed as Class III Director at MADRIGAL PHARMACEUTICALS, INC..
  - Action: appointed
  - Role: Class III Director
  source text: On June 15, 2023, Julian Baker and Raymond Cheong were appointed to the Board as Class III directors, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1157601/000119312523169190/0001193125-23-169190-index.htm
- Executive change
  Keith R. Gollust resigned as Class III Director at MADRIGAL PHARMACEUTICALS, INC..
  - Action: resigned
  - Role: Class III Director
  source text: On June 15, 2023, Keith R. Gollust and David Milligan, Ph.D., each Class III directors on the Board of Directors (the “Board”) of Madrigal Pharmaceuticals, Inc. (the “Company”), resigned from the Board, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1157601/000119312523169190/0001193125-23-169190-index.htm
- Executive change
  Julian Baker was appointed as Director and Chairman at MADRIGAL PHARMACEUTICALS, INC..
  - Action: appointed
  - Role: Director and Chairman
  source text: Julian Baker was appointed to serve as the independent Chairman of the Board of Directors.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1157601/000119312523169190/0001193125-23-169190-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.