Scott Wells Commences Role as Chief Executive Officer of Clear Channel Outdoor Holdings

Rhea-AI Summary

Clear Channel Outdoor Holdings (NYSE: CCO) announced Scott Wells as the new CEO, effective January 3, 2022, as part of its succession planning. Wells, previously CEO of Clear Channel Outdoor Americas since 2015, succeeds William Eccleshare, who becomes Executive Vice Chairman. The transition aims to capitalize on anticipated growth opportunities within the company's diverse outdoor advertising portfolio, including over 500,000 displays worldwide. The company is well-positioned for future success, bolstered by strong leadership and a commitment to enhancing customer relationships.

Positive

• Scott Wells brings extensive experience as former CEO of Clear Channel Outdoor Americas.
• Transition aims to leverage growth opportunities within a diverse portfolio of over 500,000 displays.
• Leadership change is part of a planned succession strategy, indicating corporate stability.

Negative

• None.

SAN ANTONIO, Jan. 3, 2022 /PRNewswire/ -- Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the "Company") today announced that Scott Wells has commenced his new role as Chief Executive Officer and member of the Board of Directors, and William Eccleshare has transitioned to the role of Executive Vice Chairman of the Board. These appointments were announced concurrent with the Company's 2021 second quarter earnings announcement and have been planned as part of the Board's ongoing succession planning process. Since 2015, Wells served as Chief Executive Officer of Clear Channel Outdoor Americas ("CCOA"), a business segment of the Company.

Wells said, "I'm honored and thrilled to begin my next chapter as CEO of Clear Channel Outdoor Holdings (CCOH). I am excited about our accelerating momentum and the new growth and market opportunities we are pursuing across our platform. Thanks to the leadership and strategic guidance from William and the dedication of our global team, we are making this transition from a position of strength. I look forward to working with our talented team to build on our strong foundation and further strengthen our relationships with customers."

Eccleshare commented, "Since I joined CCOH 12 years ago, I have been continuously inspired by the talent, performance and dedication of my colleagues across the globe and all that we have achieved together, particularly during the recent challenging times. Scott has deep knowledge of our business and has led our Americas business division to success over the past seven years. Clear Channel Outdoor Holdings could not be in better hands for the future, and I look forward to our continued partnership and collaboration."

About Scott Wells: https://investor.clearchannel.com/ESG/governance/executive-management/default.aspx

About William Eccleshare: https://investor.clearchannel.com/ESG/governance/board-of-directors/default.aspx#C.-William-Eccleshare

About Clear Channel Outdoor Holdings
Clear Channel Outdoor Holdings, Inc. ("CCOH") (NYSE: CCO) is one of the world's largest outdoor advertising companies with a diverse portfolio of more than 500,000 print and digital displays in 26 countries, reaching millions of people monthly. A growing digital platform includes more than 17,000 digital displays in international markets and more than 2,000 digital displays (excluding airports), including more than 1,500 digital billboards, in the U.S.

Comprised of two business segments – Americas and Europe. The Americas segment consists of operations primarily in the U.S. and the Europe segment consists of operations in Europe and Singapore. CCOH also operates businesses in Latin America. CCOH employs more than 4,600 people globally. More information is available at investor.clearchannel.com.

Cautionary Statement Concerning Forward-Looking Statements:

Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Clear Channel Outdoor Holdings, Inc. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Any statements that refer to expectations or other characterizations of future events or circumstances are forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Key risks are described in the Company's reports filed with the U.S. Securities and Exchange Commission.

 

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SOURCE Clear Channel Outdoor Holdings, Inc.

FAQ

Who is the new CEO of Clear Channel Outdoor Holdings?

Scott Wells has been appointed as the new CEO of Clear Channel Outdoor Holdings as of January 3, 2022.

What is the role transition for William Eccleshare at Clear Channel Outdoor?

William Eccleshare has transitioned to the role of Executive Vice Chairman of the Board at Clear Channel Outdoor Holdings.

What are the key focuses for Clear Channel Outdoor under the new CEO?

Under Scott Wells, key focuses include pursuing growth and market opportunities across the company's advertising platform.

What is the significance of Scott Wells' appointment for CCO?

Scott Wells' appointment is significant as he has a proven track record in leading the Americas segment and aims to strengthen customer relationships.