Lara Balazs
FrontdoorAbout Lara H. Balazs
Independent director at Frontdoor, Inc. since October 2023; age 55; not standing for re-election at the 2025 Annual Meeting (her term ends at the meeting’s conclusion) . Currently Chief Marketing Officer and Executive Vice President at Adobe, Inc.; previously held senior marketing leadership roles at Intuit, Amazon, Visa, Gap, and Nike . Education: B.A. in Society & Justice (University of Washington) and M.B.A. (Northwestern University) . The Board has determined she is independent under Nasdaq and Board guidelines .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Intuit, Inc. | EVP, GM Strategic Partnership Group and CMO | Mar 2020 – Sep 2024 | Led partnerships and CMO functions; deep consumer/digital expertise |
| Intuit, Inc. | SVP, Chief Marketing Officer | Nov 2018 – Feb 2020 | Consumer/digital operations and strategy |
| Amazon.com, Inc. | VP, Worldwide Marketing, Prime & North America | Nov 2017 – Jul 2018 | Digital marketing leadership |
| Visa, Inc. | Various leadership roles (SVP Head North America Marketing; Head Global Innovation Marketing; Head Global Product Marketing Strategy & Planning; Head Global & U.S. Consumer Marketing; Senior Director U.S. Marketing) | Jan 2006 – Sep 2017 | Global product and innovation marketing; consumer strategy |
| Gap, Inc. | Director, Global Brand Management | 2004 – 2006 | Brand management |
| Nike, Inc. | Marketing Director, Direct Retail | 2002 – 2004 | Retail marketing |
| Gap, Inc. | Senior Brand Officer, Gap Adult & GapBody | 2001 – 2002 | Brand leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Adobe, Inc. | Chief Marketing Officer & EVP | Current | Global software provider |
| Public company directorships (last 5 years) | — | — | Current: Frontdoor, Inc.; Former: None |
Board Governance
- Committee assignments: Member, Nominating and Corporate Governance Committee; no chair roles .
- Independence: Board determined Ms. Balazs is independent under Nasdaq and Board standards .
- Attendance: Board held 10 meetings in fiscal 2024; Ms. Balazs attended 100% of Board and applicable committee meetings; she also attended the 2024 Annual Meeting .
- Engagement: The Board regularly holds executive sessions of independent directors; no non-independent directors serve on committees .
- Transition: Not standing for re-election at the 2025 AGM; Board size expected to reduce to eight members afterward .
Fixed Compensation
| Component (FY2024) | Amount | Notes |
|---|---|---|
| Cash retainer | $90,000 | Paid quarterly |
| Stock awards (fully vested common stock) | $160,015 | Granted May 14, 2024; based on closing price day before grant; rounded to whole shares |
| Total | $250,015 | Base retainer structure: $250,000 comprised of $90,000 cash + $160,000 stock |
Program parameters (non-employee directors):
- Chair fees (if applicable): Audit $25,000; Compensation $20,000; Nominating & Corporate Governance $10,000; Lead Director $25,000; non-employee Chair of the Board $150,000 (mix of cash and stock) .
- Deferral: Directors may elect to receive shares as fully vested deferred share equivalents (DSEs) settling later; several directors elected DSEs in 2024 (Boland, Cella, Clipper, Ganesh); the table does not indicate a DSE election for Ms. Balazs .
Performance Compensation
| Performance-linked element | Status | Source |
|---|---|---|
| Performance metrics tied to director pay | Not disclosed/applicable; director equity is fully vested common stock, not performance-based |
Other Directorships & Interlocks
| Company | Role | Interlocks/Notes |
|---|---|---|
| Frontdoor, Inc. | Independent Director (since 2023; term ends at 2025 AGM) | Member, Nominating & Corporate Governance Committee |
| Other public company boards | None (last 5 years) | Reduces interlocks risk |
Expertise & Qualifications
- Deep experience in consumer- and digitally-focused businesses, operations and strategy; significant ESG exposure including corporate social responsibility, diversity & inclusion, and environmental initiatives .
- Education: B.A. Society & Justice (University of Washington); M.B.A. (Northwestern University) .
- Background cited by the Company as qualifying her for Board service .
Equity Ownership
| Metric | Value | Notes |
|---|---|---|
| Beneficial ownership (shares) | 7,352 | <1% of outstanding shares |
| Shares outstanding (context) | 74,634,580 (as of Mar 1, 2025) | Used for percent-of-class calculations |
| Pledged shares | None (directors/officers as of Mar 1, 2025) | Company prohibits pledging |
| Ownership guideline (non-employee directors) | 5x annual cash retainer | Retain 100% of acquired shares until compliant; no specified timeframe |
| Short sales/hedging/margin/pledging | Prohibited for directors | Governance policy |
Governance Assessment
- Strengths: Independent status; 100% attendance in FY2024; service on Nominating & Corporate Governance Committee; strong digital and ESG expertise aligned with customer engagement and corporate responsibility oversight .
- Alignment: Director pay mix includes fully vested stock; ownership guidelines require 5x cash retainer with 100% retention until compliant; hedging/pledging prohibited—supports alignment .
- Conflicts/Related-party: Board independence assessment found no material relationships; no related-person transactions involving Ms. Balazs disclosed; none of her shares pledged .
- Watch item: Short tenure and decision not to stand for re-election at 2025 AGM reduces Board size and removes a member from the Nominating & Corporate Governance Committee—monitor committee succession and continuity of ESG/risk oversight .
RED FLAGS
- No pledging, hedging, or related-party transactions disclosed—no red flags on alignment or conflicts .
- Not standing for re-election after ~18 months on the Board is a potential engagement signal; however, no reason disclosed in the proxy—treat as a neutral governance transition pending further disclosure .