Ian Haft
About Ian D. Haft
Ian D. Haft, age 54, has served as an independent director of Ambac Financial Group since March 28, 2016; he is Chair of the Audit Committee, a member of the Compensation Committee, and a member of the Strategy Committee, and is designated an audit committee financial expert . In 2024 he became CFO of ZATV Inc. after it acquired Electric Monster Media, where he had served as CFO and a director since 2021; he is also CEO of Surgis Capital LLC (founded 2018) and previously held senior roles at Cornwall Capital, GenNx360, and ACI Capital; he holds a BA (Dartmouth, magna cum laude) and JD/MBA (Columbia) . The Board met 18 times in 2024, and each director attended at least 97% of Board and committee meetings; Ambac separates the CEO and independent Chair roles . The Board has affirmatively determined Haft is independent under NYSE standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ZATV Inc. | Chief Financial Officer | 2024–present | Digital media operating experience; finance leadership |
| Electric Monster Media, Inc. | CFO and Director | 2021–2024 | Digital media, board oversight |
| Surgis Capital LLC | Chief Executive Officer (Founder) | 2018–present | Investment manager/consulting; strategy and value creation |
| Cornwall Capital Management LP | Founding Partner; VP & Secretary; prior CFO/COO/CCO | 2009–2017 (CFO to Nov 2011; COO/CCO to 2015) | Alternative asset mgmt, compliance, controls, hedging |
| GenNx360 Capital Partners | Principal | 2008–2009 | Private equity, operations |
| ACI Capital Co., LLC | Senior Associate; Vice President (from 2004) | 2002–2008 | LBOs, growth equity, valuation/M&A |
| Earlier: BCG; Merrill Lynch; Blackstone | Associate/Analyst/Consultant | — | Strategy, banking, investing |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Keweenaw Land Association | Director | 2018–2021 | Prior public company directorship |
| Electric Monster Media, Inc. | Director | 2021–2024 | Private company board (digital media) |
Experience & qualifications (summary): 20+ years across alternative asset management, investment banking, and consulting; skills in strategy, M&A, financing, derivatives/hedging, financial controls, and regulatory compliance—cited as rationale to chair Audit and serve on Strategy .
Board Governance
- Committee assignments: Audit (Chair), Compensation (member), Strategy (member); not on Governance & Nominating .
- Independence: Board determined Haft is independent under NYSE listing rules .
- Attendance: In 2024, each director attended ≥97% of Board and committee meetings; Board held 18 meetings .
- Board structure: Independent Chair (Jeffrey S. Stein) separate from CEO; six of seven directors independent .
- Audit oversight: Committee of four independent directors, all “audit committee financial experts”; five meetings in 2024; recommended retaining KPMG for 2025 (auditor since 1985) .
Fixed Compensation (Non-Employee Director)
| Component | Amount/Terms | 2024 Dollar Value |
|---|---|---|
| Annual cash retainer | $100,000, paid monthly | $100,000 |
| Committee chair fee (Audit) | $35,000 additional for Audit Chair | $35,000 (Haft) |
| Total cash fees (Haft) | Retainer + chair fee | $135,000 |
Program notes:
- No meeting fees; Board Chair receives $125,000 (not applicable to Haft) .
- Director pay structure reviewed annually; no changes for FY2024 .
Performance Compensation (Equity)
- Equity form: Quarterly restricted stock units (RSUs) of $50,000 per quarter (rounded to whole units), vest after one year; settlement deferred until the director leaves the Board or certain other circumstances (e.g., change-in-control) .
- 2024 RSU grant detail (Haft):
| Grant Date | Units | Grant-Date Fair Value |
|---|---|---|
| Jan 1, 2024 | 3,147 | $51,862 |
| Apr 1, 2024 | 3,299 | $51,101 |
| Jul 1, 2024 | 3,699 | $46,274 |
| Oct 1, 2024 | 4,497 | $50,411 |
| 2024 Total | 14,642 | $199,648 |
- Total 2024 stock awards (Haft): $199,648 .
- No options or performance-based director equity disclosed; RSUs are time-based and deferred until board service ends .
Other Directorships & Interlocks
| Company | Type | Role | Interlock/Conflict Notes |
|---|---|---|---|
| Keweenaw Land Association | Public (prior) | Director (2018–2021) | Historical; no Ambac linkage disclosed |
| Electric Monster Media, Inc. | Private | Director (2021–2024) | Digital media; no Ambac linkage disclosed |
- Compensation Committee interlocks: None disclosed for Ambac’s committee members (includes Haft) .
Expertise & Qualifications
- Skills matrix: CEO experience; insurance and risk management expertise; investment experience indicated for Haft .
- Formal credentials: BA Economics/Mathematics, Dartmouth (magna cum laude); JD and MBA, Columbia University .
- Board rationale: Expertise across M&A, valuation, financing, derivatives/hedging, controls and compliance supports Audit Chair and Strategy Committee service .
Equity Ownership
| Holder | Beneficial Ownership | % of Class | Composition & Notes |
|---|---|---|---|
| Ian D. Haft | 119,140 shares | <1% | Includes RSUs; director RSUs do not settle until service ends |
- Director ownership guidelines: Lesser of $800,000 in value or 40,000 shares within five years; all directors meet except Ms. Matus (joined 2023), implying Haft is in compliance .
Governance Assessment
- Strengths and investor confidence signals:
- Independent Audit Chair and audit financial expert; robust audit oversight processes and executive sessions without management .
- High engagement (≥97% attendance) and active committee workload (Audit 5x; Compensation 11x; Strategy 6x; Governance 5x in 2024) .
- Ownership alignment via mandatory director stock ownership and RSU deferral until departure; Haft meets guideline .
- Say-on-pay support of ~95% in 2024 suggests broad shareholder alignment with compensation governance .
- Potential watch items:
- Auditor tenure (KPMG since 1985) can draw investor scrutiny on independence; the Audit Committee annually evaluates and recommended retention for 2025 .
- External C-suite role (CFO of ZATV; prior CFO/director of Electric Monster) adds time commitments, though Ambac notes directors limit other public board obligations (no director sits on >3 other public company boards) .
- Conflicts/related-party exposure:
- Governance & Nominating Committee oversees related-party transactions; beyond service-provider engagements with Vanguard and BlackRock as significant shareholders, “no other related party transactions” were identified; none specific to Haft disclosed .