In an announcement made following the Closing Bell on Wall Street Wednesday (3/22), Entercom Communications announced that it has appointed Richard J. Schmaeling as the successor to Steve Fisher.
Schmaeling will take the role of EVP/CFO of the company that is merging with CBS Radio on April 18.
As expected, Schmaeling will report to Entercom President/CEO David J. Field. As previously announced, Fisher will continue to assist with the CBS Radio integration through January 2018.
Schmaeling brings deep media expertise and more than 30 years of finance and leadership experience to Entercom. Most recently, he served as CFO at Travel Leaders Group, the largest travel agency company in the U.S., with over $20 billion of annual gross billings and more than 40,000 travel agents globally.
Within the media industry, he held the role of CFO at LIN Media from 2008 until its acquisition by Media General in December 2014. Prior to joining LIN Media, Schmaeling served as VP/Finance at Dow Jones, where he oversaw nine business units and held key operational finance responsibilities.
“Rich is a proven leader with an excellent track record and outstanding reputation as a public company CFO,” Field said. “His breadth of experience and hands-on leadership of successful integrations for the LIN Media/Media General and News Corp/Dow Jones mergers make him an ideal choice as we join forces with CBS Radio and position ourselves for a dynamic future.”
Field continued, “I also want to reiterate my thanks and appreciation to Steve Fisher for his dedication to Entercom over the past 18 years and the outstanding role he has played in our growth and success. We are grateful for all of his contributions.”
Schmaeling commented, “I am excited to join Entercom at this pivotal time in the Company’s history and to help drive the next era of Entercom’s growth. I look forward to working with David and the team as we complete and realize the full benefits of the CBS Radio transaction and position Entercom to better serve listeners and advertisers while creating significant value for shareholders.”
Schmaeling began his career at Arthur Andersen in the audit and business advisory practice.