Here’s a listing of the members of the non-executive Board of Directors for OUTFRONT, Clear Channel and Lamar.

Five observations:

• In a pattern which mimics exec pay, OUTFRONT pays board members more than Lamar.  Can someone explain why?  One could make the case that Lamar board members deserve the highest pay because Lamar is the biggest company or the Clear Channel’s board members deserve the highest pay because the company’s high leverage increases financial and litigation risk.
• The head of each company’s board of Directors and the heads of various board committees are typically paid more than the other board members.
• Insider suspects Jinhy Yoon is service on Clear Channel Outdoor’s board without pay to avoid conflict of interest issues.  She is an EVP and credit analyst at PIMCO, the investment management company.
• The out of home industry is outperforming the market as a whole when it comes to gender diversity.  Women account for 35% of out of home board positions versus and average of 28% of board seats at December 2022 for the Russell 3000.
• The out of home industry is underperforming the market as a whole when it comes to ethnic diversity.  Minorities account for 13% of out of home board positions versus an average of 20% of board seats at December 2022 for the Russell 3000.

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