After 11 years as CFO of Radio One, dating back to before its IPO, Scott Royster has announced that he is leaving the company by the end of this year. He will stay on for a few months to assist with the transition to a successor, yet to be named. Royster had no comment when asked by RBR about his future plans.
"Scott has been an integral and important part of our company’s growth and development. When he joined the company we owned seven stations in two markets and had yet to tap into the public market. With his assistance we have grown to 70 stations in 22 markets and successfully executed numerous public offerings of equity and debt. I am grateful for his contributions to the success and development of the company. However, I understand that there comes a time for change and new challenges in a person’s career,” said CEO Al Liggins.
"Partnering with Alfred and helping to execute his vision over the past 11 years has been a rewarding experience and I am proud of what we have accomplished. As CFO I have been closely involved in the company’s strategy to acquire assets, diversify its portfolio and raise capital. While I look forward to the next phase of my career where I can build upon the knowledge acquired and relationships developed, I am happy to assist the company over the next few months to ensure a smooth transition," Royster said in the statement announcing his departure.
Prior to Radio One, Royster was a principal at TSG Capital Group, a private equity firm that had been an early investor in Radio One.