Andrew Hobson
Clear Channel Outdoor HoldingsAbout Andrew Hobson
Andrew Hobson, age 63, is an independent director of Clear Channel Outdoor (CCO) and serves as Chair of the Audit Committee; he has been on the Board since 2019 and is designated an “audit committee financial expert.” He is Partner and Chief Financial Officer at Innovatus Capital Partners (since January 2016), and formerly served as Senior EVP & CFO at Univision Communications (October 2007–February 2015) after earlier roles there beginning in 1994; he holds dual B.S.E. degrees in Finance and Accounting, magna cum laude, from Wharton (University of Pennsylvania) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Innovatus Capital Partners, LLC | Partner & Chief Financial Officer | Jan 2016–present | Finance leadership; transaction structuring; capital allocation |
| Univision Communications Inc. (TelevisaUnivision) | Senior EVP & Chief Financial Officer | Oct 2007–Feb 2015; prior roles 1994–2015 | Led financial reporting, tax, capital structure planning |
| Chartwell Partners LLC | Principal | 1990–1994 | Investment/finance experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Cumulus Media, Inc. (NASDAQ: CMLS) | Chairman of the Board | Since June 2018 | Public company leadership; media industry expertise |
Board Governance
- Committee assignments: Audit Committee Chair; designated “audit committee financial expert.” Audit Committee members are all independent under NYSE and SEC Rule 10A-3 .
- Independence: Board determined all current directors except the CEO are independent; audit and compensation committee members meet heightened independence standards .
- Attendance and engagement: Board held 13 meetings in 2024; all incumbent directors attended at least 87% of the aggregate of Board and committee meetings during their service period .
- Committee activity: Meetings held in 2024 — Audit: 4; Compensation: 6; Nominating & Corporate Governance: 5 .
- Executive sessions: Independent directors met in executive session at least once in 2024; presided over by the independent Chair .
- Leadership structure: Roles of Chair and CEO are separated; W. Benjamin Moreland serves as independent Chair .
Fixed Compensation
| Year | Cash Fees ($) | Equity (RSUs) Grant Date Fair Value ($) | Total ($) | Notes |
|---|---|---|---|---|
| 2024 | 100,000 | 149,998 | 249,998 | No meeting fees; director program: $75,000 cash retainer + $150,000 equity; Audit Committee Chair fee $25,000; directors may elect up to 100% of cash retainer in RSUs |
| Program Component | Amount/Term |
|---|---|
| Annual cash retainer (independent directors) | $75,000 |
| Annual equity (RSUs) | $150,000; generally granted in Q1; vest in full on January 1 of following fiscal year, subject to continued service |
| Audit Committee Chair fee | $25,000 per year |
| Meeting fees | None (no additional fees for meeting attendance) |
Performance Compensation
| Award Type | Performance Metric(s) | Weight | Vesting/Timing | Outcome |
|---|---|---|---|---|
| Director RSUs (time-based) | None (time-based only; no performance targets) | 0% | Vest in full on January 1 following fiscal year, subject to continued service | N/A |
Directors do not receive performance-based equity; structure emphasizes fixed cash retainer plus time-based RSUs .
Other Directorships & Interlocks
| Company | Relationship | Potential Interlock/Conflict Noted |
|---|---|---|
| Cumulus Media, Inc. | Chairman of the Board | No CCO-related transactions disclosed with Hobson; 2024 related-party descriptions name other directors, not Hobson |
Expertise & Qualifications
- Extensive media industry experience; deep finance/accounting expertise including capital structure transactions across cycles and overseeing reporting, tax, capital allocation, and strategic planning .
- 30-year career building finance teams and raising billions in debt/equity; strong public company board experience, including as chairman .
- Designated audit committee financial expert; leads oversight of financial reporting integrity, auditor independence, internal controls, risk assessment, related-party oversight, and cyber/data privacy within the Audit Committee charter .
- Education: B.S.E. in Finance and B.S.E. in Accounting, magna cum laude, University of Pennsylvania (Wharton) .
Equity Ownership
| Holder | Shares Beneficially Owned | Shares Outstanding (Record Date) | Ownership % |
|---|---|---|---|
| Andrew Hobson | 618,926 | 496,624,429 (as of April 2, 2025) | ~0.125% (calculated from disclosed figures) |
- Section 16(a) compliance: Company states all directors complied with Section 16(a) filing requirements in 2024; only a >10% holder (not a director) filed slightly late; no director-specific delinquencies noted .
Governance Assessment
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Strengths and signals supporting investor confidence:
- Independence and role: Independent director; Audit Committee Chair; designated “financial expert,” enhancing oversight of reporting quality, auditor independence, and related-party transactions .
- Engagement: Strong attendance (≥87%) amid an active Board calendar (13 meetings in 2024); independent directors held executive session(s) .
- Transparent director pay structure: No meeting fees; straightforward cash retainer plus time-based RSUs with clear vesting; role-based chair fees aligned with responsibility .
- Ownership: Holds 618,926 CCO shares; while <1% of shares outstanding, it provides some alignment with shareholders .
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Potential concerns and items to monitor:
- Time-based equity (no performance-conditioned director pay): Typical for directors, but offers limited explicit pay-for-performance linkage relative to RSUs that vest with service .
- External commitments: Serves as Chairman of Cumulus Media and CFO at Innovatus; continued monitoring of attendance and committee engagement is prudent—current attendance levels meet expectations .
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Conflicts/related-party exposure:
- No Hobson-specific related-party transactions disclosed for 2024; Audit Committee (which he chairs) oversees policies for related-party transactions .