The EVP/CFO of Univision Communications until his March 2018 departure has just accepted John Abbot‘s old job.
He had been at Univision for nearly three years, following a 22-year run at Goldman Sachs, where he was a managing director.
Starting Monday, Frank Lopez-Balboa will serve as EVP/CFO of Cumulus Media.
He reports directly to President/CEO Mary Berner.
“He is an ideal fit with Cumulus,” Berner said. “Frank comes to us with a deep understanding of our industry, significant expertise in corporate finance and strategy and an impressive record of running a major, multi-location finance organization. I am confident, especially in these challenging times, that Frank will make a significant contribution to our progress against our financial goals and key strategic initiatives to continue creating value for our shareholders.”
Lopez-Balboa added, “I have followed Cumulus closely over the last several years and greatly admire the success it has achieved in executing its turnaround. I am excited to have this opportunity to join Cumulus and look forward to working closely with Mary, the finance team and the entire company to continue driving strong results.”
Abbot departed Cumulus in early March, following the release of the company’s Q4 and year-end 2019 results.
Travel from the New York Tri-State Area to Atlanta was cited as a reason for his decision to leave Cumulus.
At Cumulus, Abbot in July 2016 succeeded Joe Hannan, who resigned to pursue other interests.