CFO Royster To Exit Radio One
August 6, 2007 at 10:20 AM (PT)
RADIO ONE has announced that CFO SCOTT ROYSTER will leave the company at the end of the year. ROYSTER, whose final day will be DECEMBER 31, has served as CFO of the company since 1996.
CEO/Pres. ALFRED C. LIGGINS III said, "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. I am pleased that SCOTT will continue to work with us through the end of the year to assist with a number of ongoing projects as well as support the transition to a new CFO."
ROYSTER added, "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."