As of Monday (3/21) Mark Mays has less than two weeks remaining until his exit as CEO of Clear Channel Communications. But even after giving the board an extra three months to name his replacement, no new CEO has been announced.
Mays will remain as Chairman of Clear Channel and its parent company, CC Media Holdings, so he’s not exactly packing up his desk and leaving for parts unknown. Even so, he made it clear in February that he won’t be extending his CEO tenure again.
Only the second CEO of the company his father, Lowry, founded in 1972, Mark Mays announced last June that he would step down at the end of the year. But when the search for a successor hadn’t yet yielded a new CEO, Mays stayed on and then set the new deadline of March 31st.
RBR-TVBR observation: If a new CEO is not in place by a week from Thursday, March 31st, Mays has indicated to Wall Street analysts that the company will be just fine without him at the helm. “We have a very well talented team, so we should feel confident that they’re going to continue to drive the businesses,” he said in a February conference call.