The board of directors at Clear Channel Communications and parent CC Media Holdings still haven’t hired a new President and CEO, so a temporary solution has been put in place since Mark Mays made his exit, as planned, on Thursday, March 31st.
Mays is still Chairman of the Board, so he won’t be hard to find if any questions come up. But day-to-day operations are now under the direction of two senior executives. The board created an “Office of the Chief Executive Officer” to head the company until a successor CEO is hired.
That Office of the Chief Executive Officer consists of Thomas W. Casey, the current Executive Vice President and Chief Financial Officer, and Robert H. Walls Jr., the current Executive Vice President, General Counsel and Secretary of the company.
RBR-TVBR observation: Mark Mays made his exit with no fanfare and it’s not likely that employees will notice any changes in operations now that he has officially completed his long-pending departure. What is noteworthy, though, is that for the first time since Clear Channel was launched in 1972 there is not someone with the last name of Mays at the helm.