Brendan Paddick
Liberty Latin AmericaAbout Brendan Paddick
Brendan Paddick (age 61) is an independent Class II director of Liberty Latin America (LILA) since December 2017; he is nominated to continue serving through the 2028 AGM and is designated as an audit committee financial expert by the board . He founded Columbus International Inc., led it as CEO until its 2015 merger with Cable & Wireless Communications, and brings deep cable/telecom operator and capital markets experience across the Caribbean and Latin America .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Columbus International Inc. | Founder; Chief Executive Officer | 2004–2015 (merger with C&W in Mar 2015) | Built regional fiber/video/IP voice and cloud/data center platform across 42 countries; key operator expertise relevant to LILA footprint |
| Persona Communications Inc. | President & Chief Executive Officer | Apr 1992–Aug 2004 | Led Canadian and Bahamas video/internet/data/telephony services; operator experience |
| Cable & Wireless Communications Plc | Director | Mar 2015–May 2016 | Board role post-Columbus merger; regional telecom governance exposure |
| Persona Communications | Director | 1998–2004 | Board oversight of Canadian telecom operator |
| Fishery Products International | Director | 2001–2004 | Board governance exposure (industrial) |
External Roles
| Organization | Role | Tenure |
|---|---|---|
| MDA Space Ltd. | Director (public) | Since Apr 2020 |
| Bahamas Telecommunications Company | Other position (not specified) | Not specified |
| Nalcor Energy | Chair | 2016–2022 |
| NL Hydro | Director | 2016–2022 |
| Churchill Falls (Labrador) Corporation | Chair | 2016–2022 |
| World Energy GH2 Inc. | President & Director | Since 2022 |
| Honorary Consul for Canada to The Bahamas | Honorary Consul | 2006–2018 |
Board Governance
- Committee assignments: Audit Committee member; the board determined all audit members (including Paddick) qualify as “audit committee financial experts,” underscoring financial oversight capacity .
- Independence and executive sessions: Paddick is listed among LILA’s independent directors; independent directors held two executive sessions in 2024 .
- Attendance and engagement: In 2024 the board met 5 times; Paddick attended ≥75% of board and committee meetings (minimum threshold met for all directors). 9/10 directors attended the 2024 AGM .
- Tenure and classification: Class II director, nominated in 2025 to serve until the 2028 AGM (or earlier resignation/removal) .
Fixed Compensation
2024 non-employee director compensation (cash and equity), as disclosed:
| Component | Amount (USD) |
|---|---|
| Annual cash retainer | $110,000 (includes committee membership fee) |
| Equity awards – LILA RSUs (grant-date FV) | $48,504 |
| Equity awards – LILAK RSUs (grant-date FV) | $97,953 |
| Other compensation (medical reimbursement) | $33,796 |
| Total 2024 compensation | $290,253 |
- Program structure: Standard annual retainer $100,000; committee chair fee $20,000; committee member fee $10,000; no additional fee for Nom/Gov. Directors may elect to receive quarterly fees in shares; 2024 combined director RSU grant valued at $150,000 with one-year vesting (split 1:2 between LILA/LILAK) .
- Elections in equity: Paddick elected to receive common shares in lieu of cash for some fees, including approx. $107,361 of fees in shares in 2024 . He also received LILA 1,425 shares and LILAK 2,849 shares in lieu of cash retainer for the quarter ended March 31, 2025 .
Performance Compensation
- Directors do not receive performance-based cash bonuses or PSUs; equity awards are time-based RSUs that vest in full on March 15 of the following year .
- 2024 director RSUs vest date: March 15, 2025 (LILA and LILAK RSUs) .
Other Directorships & Interlocks
| Company | Type | Role/Notes |
|---|---|---|
| MDA Space Ltd. | Public | Director (since Apr 2020) |
| Cable & Wireless Communications Plc | Public (former) | Director (Mar 2015–May 2016) |
| Clearwater Seafoods Incorporated | Public (former) | Director (2006–Jan 2021) |
| Persona Communications; Fishery Products International | Public (former) | Director |
| Bahamas Telecommunications Company | Sector proximity | Listed as “Other Position”; LILA’s operations include Cable & Wireless businesses in the Caribbean, including the Bahamas, indicating sector familiarity rather than a disclosed related-party transaction . |
No related-party transactions involving Paddick are disclosed in LILA’s 2025 proxy (the sole related-party disclosure involves a consultant unrelated to Paddick) .
Expertise & Qualifications
- Founder/operator in cable telecom across LATAM/Caribbean; deep capital markets experience informs financing, capital allocation, and strategic planning .
- Board-relevant skills: finance/auditing (audit committee financial expert); Latin America/Caribbean domain knowledge aligned with LILA’s footprint .
Equity Ownership
| Metric | LILA Class A Shares | LILAK Class C Shares | Notes |
|---|---|---|---|
| Beneficial ownership (Feb 28, 2025) | 1,448,145 (3.8% of class) | 1,961,348 (1.3% of class) | Voting power 2.3% (aggregate LILA+LILAB; LILAK non-voting) |
| RSUs scheduled to settle within 60 days (included) | 7,874 | 15,748 | Director RSUs vesting soon |
| Shares taken in lieu of cash retainer (Q1 2025) | 1,425 | 2,849 | Alignment via equity elections |
| Pledging/Hedging | No pledging disclosed for Paddick; hedging permitted with pre-clearance; short sales prohibited (policy applies to directors) |
Insider Trades
Recent open-market purchases signal alignment:
| Trade Date | Security | Type | Price | Shares | Resulting Direct Holdings | Source |
|---|---|---|---|---|---|---|
| 2024-12-19 | LILA | Purchase | $6.17 | 50,000 | 1,437,518 | (http://openinsider.com/LILA) |
| 2024-12-02 | LILA | Purchase | $6.87 | 94,497 | 3,327,612 | (http://openinsider.com/LILA) |
| 2024-06-21 | LILA | Purchase | $8.94 | 400,000 | 1,036,108 | (http://openinsider.com/LILA) |
Trading-view summary also reported his 50,000 share purchase in Dec 2024 .
Governance Assessment
-
Strengths
- Audit committee financial expert; governance experience in complex operators; independence maintained; attendance thresholds met .
- Material personal share ownership, RSUs, and repeated open-market purchases indicate alignment with investors; elected to take fees in shares .
- No related-party transactions disclosed involving Paddick; board holds independent executive sessions .
-
Potential risks or red flags (monitor)
- Hedging permitted with pre-clearance (short sales prohibited); some investors prefer outright hedging bans for directors .
- Minor medical reimbursement in “other compensation” ($33,796 in 2024) – consistent with disclosed director health benefits but should be monitored for scope creep .
- Historical “Other Position” at Bahamas Telecommunications Company merits continued monitoring for any current financial ties with LILA’s subsidiaries (none disclosed) .
-
Signals
- Insider buying during 2024 suggests confidence; continued audit committee role signals board reliance on his financial oversight .
- Director equity awards are time-based RSUs; no performance-based director pay—reduces pay-for-performance sensitivity at the board level but is standard market practice .