Cumulus Media Appoints John Abbot as EVP/CFO

RADIO ONLINE | Wednesday, June 22, 2016

John Abbot

Cumulus Media appoints John Abbot as Executive VP/Treasurer and Chief Financial Officer beginning July 1. He replaces Senior VP/Treasurer and CFO Joseph P. Hannan, who resigned effective June 22. Abbot, 53, previously served as the Executive VP/Finance and CFO of Telx Holdings Inc. from January, 2014 until December, 2015. Prior to that, he was Executive VP/CFO of Insight Communications, a cable television provider.

In a SEC filing, Cumulus disclosed that Abbot's employment agreement will have an initial term through July 1, 2019 and will contain a provision for automatic extensions for one-year periods thereafter, unless terminated. Under the deal, Abbot is entitled to an annual base salary of $750,000, subject to annual increase and an annual cash bonus based on performance.

During the period from June 22 until July 1, Collin Jones, the Company's Head of Media & Acqusitions, Corporate Development and Investor Relations, will also serve as the company's acting CFO.

Additionally, Hannan, who resigned his position after six years in order to pursue other interests, has agreed to assist the company during a transition period and to be available for additional assistance and cooperation for a period of up to nine months.