Clear Channel Replaces Mark Mays As CEO With Interim 'Office Of The CEO'
April 4, 2011 at 7:53 AM (PT)
In an 8-K filing with the SEC TODAY (4/4), CLEAR CHANNEL COMMUNICATIONS disclosed that it will replace MARK MAYS as CEO/President with a new "Office of the Chief Executive Officer" as an interim step while a new permanent CEO is sought. The new office will be filled by EVP/CFO THOMAS W. CASEY and EVP/General Counsel/Secretary ROBERT H. WALLS, JR. MAYS continues as Chairman of the company, and CASEY and WALLS continue as EVPs in their previous roles along with the new responsibilities.
CASEY has been with the company since JANUARY 4th, 2010 and previously served as EVP/CFO of WASHINGTON MUTUAL before its failure and worked at GENERAL ELECTRIC. WALLS joined the company on JANUARY 1st, 2010 and is a partner at POST OAK ENERGY CAPITAL, LP and previously served as EVP/General Counsel at ill-fated ENRON.