San Antonio, TX - June 23, 2010 - Mark P. Mays has decided to step down from his role as president and chief executive officer of Clear Channel Communicationsand has asked the board of directors to initiate a search for his replacement. Mays will continue to serve as chairman of the board of directors and will remain actively involved with the company in that capacity.
Mays said, "As I've discussed with our board, this is an opportune time for a new CEO to work with the management team in leading our terrific company forward, and I look forward to executing a seamless transition."
Mays has served as chairman of the board of Clear Channel Communications since last year and as president and CEO since October 2004. Prior to that, Mays served in various roles at the company, including vice president and treasurer, senior vice president of operations and later president and COO. Mays will continue to lead the company as president and CEO until a replacement is named, which is expected to be later this year.