Chad Hume

About Chad Hume

Chadwick (Chad) Hume is a Class III director of Driven Brands Holdings Inc. who joined the Board in December 2020; he is age 38, with five years of board service and a current term expiring at the 2026 Annual Meeting . He serves as a Principal at Roark Capital, is designated to the Board by Driven Brands’ Principal Stockholders under the Stockholders Agreement, and is not classified as an independent director under Nasdaq rules; directors designated by the Principal Stockholders do not currently serve on Board committees . He holds a B.B.A. from the Terry College of Business at the University of Georgia and previously worked at Houlihan Lokey and Bank of America .

Past Roles

External Roles

Board Governance

• Board classification: Class III director; current term expiration 2026; tenure 5 years; age 38 .
• Independence: Not independent (independent directors are Halligan, Stroup, Harmon, Puckett, Swinburn, Tomás); company is a “controlled company” under Nasdaq with Principal Stockholders controlling >50% voting power .
• Committee assignments: None; Principal Stockholder designees do not currently serve on Board committees .
• Board/committee activity and attendance (FY2024): Board held 6 meetings; Audit 8; Compensation 6; Nominating & Corporate Governance 4; all directors attended at least 75% of Board and applicable committee meetings and attended the 2024 annual meeting .
• Executive sessions: Regular executive sessions of non-management and independent directors are held; independent-only sessions occur at least annually .

Fixed Compensation

• Policy note: Directors affiliated with Roark do not receive compensation for board service and did not hold outstanding RSUs or stock options as of year-end 2024 .
• General director retainer framework (for non-Roark directors): Annual cash retainer $75,000; committee retainers increased in March 2025 to Audit Chair $30,000/Members $15,000; Compensation Chair $25,000/Members $10,000; NCGC Chair $20,000/Members $10,000; annual RSU grant ~ $145,000 grant-date value, vesting at first anniversary .

Performance Compensation

• None. Driven Brands does not tie director compensation to performance metrics, and Roark-affiliated directors (including Hume) receive no cash or equity compensation .

Other Directorships & Interlocks

• Controlled company status and Stockholders Agreement: Principal Stockholders possess board nomination rights based on ownership tiers; they currently may designate up to five nominees, including Hume (Class III), Thompson (Class II), and Aronson (Class I) .
• Related-party exposure: Driven Brands paid ~$4 million in FY2024 to Divisions Maintenance Group, an entity owned by Roark affiliates, for facilities maintenance services after a competitive bid; the Audit Committee reviewed and approved under the Related Person Transactions Policy .

Expertise & Qualifications

• Corporate strategy and organization expertise from private equity investing in branded consumer companies .
• Finance exposure via prior roles at Houlihan Lokey (investment banking) and Bank of America (financial services) .
• Academic credential: B.B.A., University of Georgia (Terry College of Business) .

Equity Ownership

• Hedging/pledging policy: Company prohibits directors/officers/employees and family designees from hedging, short sales, margin pledging, and derivative transactions on company stock .

Governance Assessment

• Independence and committee service: Hume is not independent and, as a Principal Stockholder designee, does not serve on any Board committees, limiting direct involvement in audit/compensation/NCGC oversight—mitigated by committees being fully independent and chaired by independent directors .
• Alignment and incentives: Hume receives no director compensation and holds no reported DRVN shares personally; alignment is primarily through Roark’s controlling equity stake rather than individual director ownership—this may concentrate influence with Principal Stockholders while reducing direct “skin-in-the-game” at the individual director level .
• Controlled company and related-party transactions: The Stockholders Agreement grants significant nomination rights to Principal Stockholders, and FY2024 included ~$4 million in services from a Roark affiliate reviewed by the Audit Committee under the Related Person Transactions Policy—ongoing monitoring of RPTs and committee independence is a key investor confidence consideration .
• Board effectiveness signals: All directors met attendance thresholds; executive sessions are regular; committee charters and independence are disclosed; however, Principal Stockholder designees currently abstain from committee service, which preserves committee independence but may limit their governance contributions in key oversight areas .
• Say-on-pay and investor feedback context: 2024 say-on-pay support was ~78%; the company attributed the decline to a one-time conversion of pre-IPO awards to time-based vesting in 2023—while not director-specific, it informs governance sentiment and oversight priorities for compensation .