Cumulus Media has a big change in the executive suite — a new Executive Vice President, Treasurer and Chief Financial Officer as of July 1.
John Abbot comes to the broadcaster from Telex Holdings, where he was Executive Vice President and Chief Financial Officer. Telex provides connectivity, co-location and server services in the data center industry. It was sold to Digital Realty Trust last October for around $1.9 billion.
Abbot brings experience in financial and management operations to the job, including capital market transactions, mergers, acquisitions and integration campaigns. He’ll have a lot on his plate at Cumulus, where he will be responsible for finance, treasury, accounting, tax, engineering, purchasing, real estate, information technology and systems.
Abbot succeeds Joe Hannan, who resigned to pursue other interests; Hannan will help the company for several months to ensure a smooth transition, according to Cumulus.
Abbot began his career in the Navy, where he was a Surface Warfare Officer. He then became an associate at Goldman, Sachs & Co., went to Morgan Stanley and eventually landed at cable company Insight, where he was CFO for eight years before the company was acquired by Time Warner Cable.