Mitch Landrieu
About Mitch Landrieu
Mitchell “Mitch” Landrieu (age 64) was elected as an independent director of Lamar Advertising Company on May 15, 2025. He is founder and president of E Pluribus Unum, former Co‑Chair of the Biden/Harris presidential campaigns (beginning January 2024), former Senior Advisor to President Biden coordinating implementation of the Infrastructure Investment and Jobs Act (from November 2021), and previously served as Mayor of New Orleans (2010–2018), Lieutenant Governor of Louisiana (2004–2010), and member of the Louisiana House of Representatives (1988–2004). He is also a lawyer, author, speaker, and political commentator .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| City of New Orleans | Mayor | May 2010 – May 2018 | Led crisis management and urban development initiatives; cited for leadership during challenging periods . |
| State of Louisiana | Lieutenant Governor | Jan 2004 – May 2010 | Statewide executive office; tourism and cultural affairs oversight . |
| Louisiana House of Representatives | State Representative | 1988 – 2004 | Legislative experience; community engagement . |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| E Pluribus Unum | Founder & President | Not disclosed | Research and community-focused initiatives in the American South . |
| Biden/Harris Presidential Campaigns | Co‑Chair | Began Jan 2024 | National political leadership role . |
| The White House | Senior Advisor to the President (IIJA Coordinator) | Began Nov 2021 | Coordinated federal infrastructure implementation . |
| Legal/Media | Lawyer, author, speaker, commentator | Ongoing | Public policy and communications expertise . |
Board Governance
- Election and investor support: Elected May 15, 2025, receiving 221,316,238 “For” votes and 158,485 “Withheld,” among the strongest support in the slate; KPMG ratification also passed (226,422,011 “For”) .
- Independence: The Board determined Landrieu will be an “independent director” under Nasdaq standards upon election .
- Board size and structure: Board set at ten directors for the 2025–2026 term .
- Committee assignments: Not disclosed as of the 2025 proxy and election filings. Current committee chairs are Stephen P. Mumblow (Audit), Thomas V. Reifenheiser (Compensation), and John E. Koerner, III (Nominating & Governance) .
- Attendance baseline: In 2024, the Board held 4 meetings; all directors met the 75% attendance threshold, and all attended the prior annual meeting except Mr. Reifenheiser (Landrieu not yet a director in 2024) .
Fixed Compensation
Director fee framework (non‑employee directors)
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Cash retainers and fees (paid in cash):
- Annual Board retainer: $50,000 .
- Committee membership fees (annual, paid semi‑annually): Audit $7,500; Compensation $3,000; Nominating & Governance $3,000 .
- Committee chair fees (annual, paid quarterly): Audit Chair $20,000; Compensation Chair $9,000; Nominating & Governance Chair $9,000 .
-
Equity compensation (restricted stock; 50% vests at grant, 50% at end of one-year term; pro‑rated for mid‑term appointments):
- Non‑committee members: $75,000 grant date fair value .
- Committee members (not chair): $80,000 .
- Compensation or Nominating & Governance Chair: $95,000 .
- Audit Chair: $100,000 .
Note: Landrieu’s specific 2025 director fees/equity grant details were not disclosed in the 2025 proxy; policy amounts above apply to eligible non‑employee directors and pro‑rations for off‑cycle elections .
Performance Compensation
- Director equity awards are time‑based restricted stock only (not performance‑conditioned). Vesting: 50% on grant; 50% on last day of the one‑year term; pro‑rated for mid‑term appointments .
- No performance metrics apply to non‑employee director equity grants .
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Current public company boards | None disclosed for Landrieu . |
| Committee roles at other public companies | None disclosed . |
| Private/non‑profit/academic boards | Leads E Pluribus Unum; additional civic and political leadership roles noted above . |
| Interlocks with LAMR stakeholders | Not disclosed . |
Expertise & Qualifications
- Infrastructure and urban development: Deep exposure via mayoral leadership and federal IIJA coordination; relevant to out‑of‑home advertising permitting, zoning, and municipal relations .
- Crisis management and resilience: Track record guiding organizations through challenging situations .
- Public affairs and community networks: Broad relationships across Southern U.S. markets where LAMR operates .
- Independence: Board-determined independent status upon election .
Equity Ownership
| Holder | Class | Shares Beneficially Owned | % of Class |
|---|---|---|---|
| Mitch Landrieu | Class A | 0 | <1% |
- Pledging/hedging: Company does not prohibit hedging by directors, which may pose alignment concerns versus common governance practices .
- Ownership guidelines (directors): Not disclosed in the 2025 proxy .
Governance Assessment
Positives
- Strong investor mandate: Landrieu received 221.3M “For” votes vs. 0.16M “Withheld,” signaling substantial shareholder confidence in his appointment .
- Relevant, additive skillset: Infrastructure execution, municipal engagement, crisis leadership, and public policy experience align with billboard permitting, local regulatory dynamics, and reputational stewardship critical to LAMR’s business .
- Independent status: Board determined he qualifies as independent under Nasdaq rules, supporting board effectiveness and oversight capacity .
Watch‑Items / Potential Risks
- Board refresh process: Candidate was recommended by the CEO, and the board increased its size by one to accommodate his nomination; while the Nominating & Governance Committee vetted and recommended him, some investors prefer processes less management‑led for independent director additions .
- Hedging policy: Company allows director/employee hedging; many investors view unrestricted hedging as a misalignment risk and prefer explicit prohibitions .
- Control/related‑party context: The Reilly family maintains significant voting control via Class B (10 votes/share) and RFLLC, with noted share pledging; related‑party transactions exist (REV/EATEL), though none involve Landrieu. These contextual factors can concentrate influence and warrant robust independent oversight .
Signals affecting investor confidence
- Election outcome: Among the highest “For” votes in the slate, indicating broad shareholder support for his appointment .
- Board baseline functioning: 2024 attendance thresholds met across directors; standing independent committees with designated financial expert on Audit Committee .
Notes
- Committee assignments, chair roles, specific director equity grant size/number of shares for Landrieu, and post‑election ownership changes are not disclosed in the 2025 proxy or subsequent vote 8‑K; updates should be monitored in future filings .