Paul Hackwell
About Paul Hackwell
Paul Hackwell (age 45) is an Independent Director of Life Time Group Holdings, Inc. (LTH), serving since 2015, and is a Class III director with a term expiring at the 2027 annual meeting . He is a Partner at TPG Global, LLC, leading its consumer group, and brings extensive board and finance experience; he is currently a director of Viking Holdings Ltd. (NYSE: VIK) . The Board has affirmatively determined that Hackwell is independent under NYSE listing standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| TPG Global, LLC | Partner; leads consumer group | 2006–present | Led investments in Adare Pharmaceuticals, Anastasia Beverly Hills, Aptalis Pharma, Arden Group (Gelson’s), AV Homes, Classic Collision, Norwegian Cruise Line, Playa Hotels & Resorts, Rodan + Fields, Taylor Morrison, Troon Golf, Viking Cruises |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Viking Holdings Ltd. (NYSE: VIK) | Director | 2016–present | Public company board service |
Board Governance
- Committee memberships and roles (2024): Nominating & Corporate Governance Committee (member); Capital Allocation Committee (member) .
- Committee activity: Nominating & Corporate Governance (3 meetings in 2024); Capital Allocation (6 meetings in 2024) .
- Independence: Determined independent; Board noted Life Time purchases from certain LGP/TPG portfolio companies were <2% of each counterparty’s consolidated gross revenues and did not affect independence (none of Coslet, Danhakl, Galashan or Hackwell owns ≥10% of employer/portfolio companies) .
- Attendance: Board met six times in 2024; each director attended ≥75% of Board and committee meetings for which they served; ten of twelve directors attended the 2024 annual meeting .
- Controlled company status: Principal Stockholders collectively >50% voting power; LTH uses controlled company exceptions—Compensation and Nominating & Corporate Governance Committees are not composed entirely of independent directors .
- Lead Independent Director: John Danhakl serves as Lead Independent Director and presides over executive sessions of independent directors .
Fixed Compensation
| Year | Board Retainer ($) | Committee Fees ($) | Meeting Fees ($) | Perquisites |
|---|---|---|---|---|
| 2024 | $0 (no director pay as principal stockholder nominee) | $0 | N/A | Complimentary membership/services at Life Time; total value ≤$10,000 annually |
Notes: LTH’s Director Compensation Program applies to directors not nominated by Principal Stockholders; Hackwell (a nominee of TPG) did not receive cash or equity compensation from LTH for Board service in 2024 .
Performance Compensation
| Year | RSUs Granted (#) | RSU Grant Date Value ($) | PSUs Granted (#) | Options Granted (#) | Vesting/Performance Metrics |
|---|---|---|---|---|---|
| 2024 | None | $0 | None | None | Not applicable |
Other Directorships & Interlocks
- Current public company board: Viking Holdings Ltd. (NYSE: VIK), Director (2016–present) .
- Principal Stockholders Agreement and nomination rights: TPG’s ownership fell to 13.7% after March 3, 2025 secondary offering; under thresholds TPG is entitled to nominate one director. LTH could have requested either Coslet or Hackwell to resign but determined both are valuable and did not request resignations—signal of Board support despite reduced TPG entitlement .
- Related-party exposure: Ordinary-course purchases from certain LGP/TPG portfolio companies; each <2% of counterparty revenues; Board concluded independence remains intact .
Expertise & Qualifications
- Private equity and consumer sector leadership (TPG consumer group lead) .
- Extensive board and finance experience across consumer, leisure and retail investments .
Equity Ownership
| Holder | Shares Beneficially Owned | % Outstanding | Notes |
|---|---|---|---|
| Paul Hackwell | Not listed; less than 1% (asterisk) | <1% | No individual share count disclosed in table; reported below 1% threshold |
| Policy constraints | — | — | Anti-hedging and anti-pledging policy prohibits hedging and pledging of Life Time stock for directors, officers, employees |
Governance Assessment
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Positives:
- Independent director with strong consumer and capital allocation expertise; active on Nominating & Corporate Governance and Capital Allocation Committees .
- Documented Board and committee engagement (≥75% attendance standard met across directors; committees active) .
- Alignment signals: No director cash/equity compensation due to principal stockholder nomination; limited perquisites; anti-hedging/anti-pledging policy strengthens alignment .
- Shareholder support: 2024 Say‑on‑Pay received >96% approval—indicates broad investor confidence in compensation governance .
-
Watch items / red flags:
- Controlled company governance exceptions—Compensation and Nominating & Corporate Governance Committees include non‑independent members; NCG is chaired by CEO—potentially reduces independent oversight of nominations .
- Principal Stockholders’ nomination rights and multiple PE-affiliated directors create interlocks; while purchases from portfolio companies are below thresholds, ongoing related-party exposure requires monitoring .
- Beneficial ownership by Hackwell is not detailed beyond “<1%” in the proxy—limited visibility into personal skin‑in‑the‑game from LTH stock .
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Net view: Hackwell adds useful consumer investing and capital allocation experience, with documented independence. The controlled company structure and PE interlocks warrant vigilant monitoring of committee independence, nomination process integrity, and related-party transactions—though current disclosures suggest immaterial transaction levels and affirmed independence .