Larry Romrell
Liberty GlobalAbout Larry E. Romrell
Independent director with over 30 years in telecommunications; previously Executive Vice President at Tele-Communications Inc. (TCI) from January 1994 to March 1999 and Senior Vice President from 1991 to 1994, after ~20 years in executive roles at WestMarc Communications . Age 85; Liberty Global (LBTYA) director since June 2005 . Core credentials: deep operating experience in cable/telecom technology and governance at multiple public companies .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Tele-Communications Inc. (TCI) | Executive Vice President | Jan 1994 – Mar 1999 | Led operating/technology functions through sale to AT&T |
| Tele-Communications Inc. (TCI) | Senior Vice President | 1991 – 1994 | Senior leadership in cable operations/technology |
| WestMarc Communications, Inc. | Various executive positions | ~20 years | Built telecom operations expertise |
External Roles
| Company | Role | Since | Notes |
|---|---|---|---|
| Liberty Media Corporation | Director | Sep 2011 | Board practices insight; Malone ecosystem interlock |
| Qurate Retail, Inc. | Director | Dec 2011 | Retail/media board experience |
| Liberty TripAdvisor Holdings, Inc. | Director | Aug 2014 | Digital/travel governance exposure |
Board Governance
- Independence: Board determined Romrell is independent under Nasdaq and SEC rules .
- Committee assignments:
- Compensation Committee: Chair
- Nominating & Corporate Governance Committee: Member
- Succession Planning Committee: Member
- Committee activity levels (2024 meetings): Compensation 12; Nominating 1; Succession 1; Audit 6; People Planet Progress 5 .
- Attendance: All directors (including Romrell) attended ≥75% of board and committee meetings in 2024; independent directors held two executive sessions . AGM attendance: only CEO Michael T. Fries attended in person (Romrell did not) .
Fixed Compensation
| Component (2024) | Amount (USD) | Detail |
|---|---|---|
| Annual director fees (cash) | $180,000 | Base and committee roles (aggregate cash fees) |
| All other compensation | $8,012 | Includes taxable value for personal use of company aircraft ($6,828) and any charitable donation recorded in “All Other” |
| Total cash/other | $188,012 | Sum of above |
Performance Compensation
| Equity Grant (2024) | Class | Grant-date fair value (USD) | Vesting | Notes |
|---|---|---|---|---|
| Option award | Class A | $113,570 | Vests annually over 3 years, starting at 2025 AGM and at each subsequent AGM | Standard non-employee director option grant |
| Option award | Class C | $116,390 | Vests annually over 3 years, starting at 2025 AGM and at each subsequent AGM | Standard non-employee director option grant |
| Total option grant value | A + C | $229,960 | As above | Aggregate 2024 equity grant value |
Director equity awards are time-based (no performance metrics). Options for non-employee directors issued May 21, 2024 with annual time vesting aligned to AGMs .
Other Directorships & Interlocks
| Company | Shared ecosystem | Potential interlock/consideration |
|---|---|---|
| Liberty Media Corporation | John C. Malone-led entities | Governance/network ties within Malone complex; audit/independent committee policies require approval of any related party transaction |
| Qurate Retail, Inc. | Liberty complex | Similar network effects; monitor for transactions requiring disinterested committee review |
| Liberty TripAdvisor Holdings, Inc. | Liberty complex | Overlapping governance norms; related-party safeguards in place |
Expertise & Qualifications
- Telecommunications operations and technology leadership (TCI, WestMarc) .
- Public company governance experience across media/retail/travel .
- Adds operational and technology strategy insight to LBTYA board deliberations .
Equity Ownership
| Security | Beneficially Owned (as of Mar 27, 2025) | % of Class | Notes |
|---|---|---|---|
| Liberty Global Class A | 141,548 | <1% | Includes exercisable options/SARs within 60 days, per methodology |
| Liberty Global Class C | 248,469 | <1% | Includes exercisable options/SARs within 60 days, per methodology |
| Options/SARs counted as exercisable within 60 days | Class A 116,327; Class C 220,260 | n/a | Included in beneficial ownership methodology |
| Outstanding director awards (Dec 31, 2024) | Options: Class A 142,464; Class C 251,839 | n/a | RSUs: none for Romrell |
- Hedging/pledging policy: Short sales prohibited; hedging transactions require pre-clearance; pledging not blanket-prohibited (encourages deeper ownership) . No pledge disclosures for Romrell; Section 16(a) compliance: no delinquency noted for Romrell in 2024 .
Governance Assessment
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Strengths:
- Independent director; long-tenured operator with telecom technology depth .
- Compensation Committee Chair during a high-activity period (12 meetings in 2024), signaling active oversight of pay risk and alignment .
- Equity-heavy director pay mix (options) supports alignment with shareholders over time .
- Board policies require independent committee review of any related-party transactions; structured processes to manage conflicts .
-
Watch items / RED FLAGS:
- Network interlocks within Liberty/Malone complex warrant ongoing monitoring for potential related-party exposure, though formal safeguards exist (independent committees, recusal) .
- AGM engagement: board encourages attendance, but only CEO attended in 2024; while not a requirement, investor preference often favors broader director AGM presence .
- Aircraft personal use (minor): taxable imputed income indicates some perquisite usage; small magnitude ($6,828) but monitor optics .
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Overall: Romrell’s independence, committee leadership, and equity alignment are supportive of board effectiveness. Interlocks are common in Liberty ecosystem; existing governance controls mitigate conflict risk, but investors should stay attentive to any transactions implicating overlapping entities .