CC Creates Interim CEO Post to Replace Mark Mays

RADIO ONLINE | Monday, April 4, 2011 | 6:03pm CT

Clear Channel President/CEO Mark Mays has exited his post as planned and an 8K filing with the SEC reveals that the company's board has established Office of the Chief Executive Officer. This is an interim position that functions as CEO and President until a permanent replacement is hired.

Executive VP/CFO Thomas Casey, the current Executive Vice President and Chief Financial Officer of the company, and Executive VP/General Counsel and Secretary Robert H. Walls will both serve in the newly-created office. Each will keep their current responsibilities and duties.

Casey joined Clear Channel in January, 2010, and previously served as Executive VP/CFO of Washington Mutual. He's also worked at General Electric. Walls also joined the company in January, 2010, and serves as a partner at Post Oak Energy Capital.