iHeartMedia Announces Brad Gerstner Is Concluding His Service on Its Board of Directors
iHeartMedia (NASDAQ: IHRT) announced that Board member Brad Gerstner, founder and CEO of Altimeter Capital, will not seek re-election to the Board of Directors. Gerstner, who joined the board in 2019, is stepping down to focus on his commitments to Altimeter and philanthropic activities.
The company has nominated Robert Millard to stand for election at the 2025 Annual Meeting on May 13th for the vacant board seat. Millard brings extensive experience as a Director of Evercore, co-founder and former Chairman of L3 Technologies, and Lead Director of L3Harris Technologies. He previously served as Chairman of the MIT and held senior roles at Lehman Brothers.
During his tenure, Gerstner contributed significantly to iHeartMedia's technology transitions and revenue opportunities in the data-focused marketplace. The company aims to leverage its position in audio content, including talk, podcasts, and radio, particularly in the emerging AI landscape.
iHeartMedia (NASDAQ: IHRT) ha annunciato che il membro del Consiglio Brad Gerstner, fondatore e CEO di Altimeter Capital, non si ricandiderà per il Consiglio di Amministrazione. Gerstner, che è entrato a far parte del consiglio nel 2019, si dimette per concentrarsi sui suoi impegni con Altimeter e sulle attività filantropiche.
La società ha nominato Robert Millard per candidarsi alle elezioni durante l'Assemblea Annuale del 2025, che si terrà il 13 maggio, per il posto vacante nel consiglio. Millard porta una vasta esperienza come Direttore di Evercore, co-fondatore e ex Presidente di L3 Technologies, e Direttore Principale di L3Harris Technologies. In precedenza ha ricoperto il ruolo di Presidente del MIT e ha avuto ruoli di alto livello presso Lehman Brothers.
Durante il suo mandato, Gerstner ha contribuito in modo significativo alle transizioni tecnologiche di iHeartMedia e alle opportunità di guadagno nel mercato orientato ai dati. L'azienda mira a sfruttare la propria posizione nei contenuti audio, inclusi talk show, podcast e radio, in particolare nel contesto emergente dell'IA.
iHeartMedia (NASDAQ: IHRT) anunció que el miembro de la Junta Brad Gerstner, fundador y CEO de Altimeter Capital, no buscará la reelección en la Junta Directiva. Gerstner, quien se unió a la junta en 2019, se retira para concentrarse en sus compromisos con Altimeter y actividades filantrópicas.
La empresa ha nominado a Robert Millard para presentarse a las elecciones en la Reunión Anual de 2025, que se llevará a cabo el 13 de mayo, para el puesto vacante en la junta. Millard aporta una amplia experiencia como Director de Evercore, cofundador y ex Presidente de L3 Technologies, y Director Principal de L3Harris Technologies. Anteriormente, se desempeñó como Presidente del MIT y ocupó cargos de alto nivel en Lehman Brothers.
Durante su mandato, Gerstner contribuyó significativamente a las transiciones tecnológicas de iHeartMedia y a las oportunidades de ingresos en el mercado centrado en datos. La empresa busca aprovechar su posición en contenido de audio, incluidos programas de conversación, pódcast y radio, especialmente en el emergente paisaje de la IA.
iHeartMedia (NASDAQ: IHRT)는 이사회 회원인 Brad Gerstner, Altimeter Capital의 창립자이자 CEO가 이사회 재선에 나서지 않을 것이라고 발표했습니다. Gerstner는 2019년에 이사회에 합류했으며, Altimeter와 자선 활동에 집중하기 위해 사임합니다.
회사는 Robert Millard를 2025년 5월 13일에 열리는 연례 회의에서 공석인 이사직에 출마하도록 지명했습니다. Millard는 Evercore의 이사로서의 폭넓은 경험과 L3 Technologies의 공동 창립자 및 전 회장, L3Harris Technologies의 수석 이사로서의 경력을 가지고 있습니다. 그는 이전에 MIT의 회장을 역임했으며 Lehman Brothers에서 고위직을 맡았습니다.
Gerstner는 재임 기간 동안 iHeartMedia의 기술 전환과 데이터 중심 시장에서의 수익 기회에 크게 기여했습니다. 이 회사는 특히 새로운 AI 환경에서 토크쇼, 팟캐스트 및 라디오를 포함한 오디오 콘텐츠에서의 입지를 활용하는 것을 목표로 하고 있습니다.
iHeartMedia (NASDAQ: IHRT) a annoncé que le membre du Conseil Brad Gerstner, fondateur et PDG d'Altimeter Capital, ne se représentera pas au Conseil d'Administration. Gerstner, qui a rejoint le conseil en 2019, démissionne pour se concentrer sur ses engagements avec Altimeter et ses activités philanthropiques.
L'entreprise a nommé Robert Millard pour se présenter aux élections lors de l'Assemblée Générale 2025, qui se tiendra le 13 mai, pour le poste vacant au conseil. Millard apporte une vaste expérience en tant que Directeur d'Evercore, co-fondateur et ancien Président de L3 Technologies, et Directeur Principal de L3Harris Technologies. Il a précédemment été Président du MIT et a occupé des postes de direction chez Lehman Brothers.
Durant son mandat, Gerstner a contribué de manière significative aux transitions technologiques d'iHeartMedia et aux opportunités de revenus sur le marché axé sur les données. L'entreprise vise à tirer parti de sa position dans le contenu audio, y compris les émissions de discussion, les podcasts et la radio, en particulier dans le paysage émergent de l'IA.
iHeartMedia (NASDAQ: IHRT) gab bekannt, dass das Vorstandsmitglied Brad Gerstner, Gründer und CEO von Altimeter Capital, nicht zur Wiederwahl in den Vorstand antreten wird. Gerstner, der 2019 in den Vorstand eintrat, tritt zurück, um sich auf seine Verpflichtungen bei Altimeter und philanthropische Aktivitäten zu konzentrieren.
Das Unternehmen hat Robert Millard nominiert, um sich bei der Jahreshauptversammlung 2025 am 13. Mai für den vakanten Vorstandssitz zur Wahl zu stellen. Millard bringt umfangreiche Erfahrung als Direktor von Evercore, Mitbegründer und ehemaliger Vorsitzender von L3 Technologies sowie Lead Director von L3Harris Technologies mit. Zuvor war er Vorsitzender des MIT und hatte leitende Positionen bei Lehman Brothers inne.
Während seiner Amtszeit hat Gerstner erheblich zu den technologischen Übergängen von iHeartMedia und den Umsatzmöglichkeiten im datengestützten Markt beigetragen. Das Unternehmen strebt an, seine Position im Audiocontent, einschließlich Talkshows, Podcasts und Radio, insbesondere im aufkommenden KI-Umfeld, zu nutzen.
- Nomination of Robert Millard brings extensive leadership and financial expertise to the board
- Company maintains strong focus on technology and AI opportunities in audio content
- Loss of technology-focused board member Brad Gerstner could impact digital strategy oversight
- Board transition may cause temporary leadership gap until May 2025 election
Company Also Announces Nomination of Robert Millard to Stand for Election for Vacant Board Seat
“When we began this journey together back in 2019, Brad was only able to promise us one term as a director due to his enormous commitments to Altimeter and its portfolio companies, and we’re grateful he gave us five terms. We appreciate all the contributions he made during that time, especially his experience and view of technology and the future -- which helped us determine how to make the technology transitions we needed to maximize our revenue opportunities in an increasingly data-focused and technology-led marketplace. He’s had a significant impact on iHeart’s success and our vision for the company’s direction,” said Bob Pittman, iHeartMedia CEO and Chairman of its Board of Directors.
“The longer I served on the iHeart Board the more excited I got about the power of audio and the unique opportunity iHeart has because of its enormous and unparalleled consumer reach and connection. From seemingly ubiquitous talk to podcasts to radio, iHeart sits on an unparalleled goldmine of constantly refreshing audio data that will only become more valuable in the Age of AI,” said Mr. Gerstner. “The biggest issue in my life is time; my strong obligations to Altimeter and its portfolio companies, and my deep commitment to my philanthropic activities, mean that I have to conclude my service on the iHeart Board, but I’m glad I was able to be a part of it for so many years. I appreciate all I’ve been able to learn, and I’ve loved the constant exchange of ideas. I’ve also valued being a part of iHeart’s growth and having a front row seat as they created whole new businesses, like podcasting, where they are now number one.”
The company also announced the Company’s Board of Directors has nominated Robert Millard to stand for election at the Company’s 2025 Annual Meeting of Stockholders to be held on May 13th. Mr. Millard is a Director of Evercore, an international investment bank, and co-founder and former Chairman of the Board of L3 Technologies, a major defense technology company. He currently serves as Lead Director of L3Harris Technologies. He formerly served as Chairman of the MIT Corporation and Chairman of the MIT Investment Management Company endowment board. Prior to becoming Chairman of MIT, Mr. Millard served as the Chairman of Realm Partners LLC from 2009 to 2014 and held various senior roles, including Managing Director at Lehman Brothers and its predecessors from 1976 to 2008. If elected by stockholders, he is expected to begin his service effective May 13th.
“We appreciate the opportunity to have Bob Millard bring his broad range of experience across business, finance and strategic planning to the iHeart Board,” said Pittman. “We believe his critical thinking and insights, combined with his long experience as an investor, will add important and unique benefits for our company and our shareholders, and will contribute significantly to positioning iHeart for continued growth.”
About iHeartMedia, Inc.
iHeartMedia (Nasdaq: IHRT) is the number one audio company in
With its quarter of a billion monthly listeners, the iHeartMedia Multiplatform Group has a greater reach than any other media company in the
The iHeartMedia Digital Audio Group includes the Company’s fast-growing podcasting business -- iHeartMedia is the number one podcast publisher in downloads, unique listeners, revenue and earnings -- as well as its industry-leading iHeartRadio digital service, available across more than 500+ platforms and thousands of devices; the Company’s digital sites, newsletters, digital services and programs; its digital advertising technology companies; and its audio industry-leading social media footprint.
The Company’s Audio & Media Services reportable segment includes Katz Media Group, the nation’s largest media representation company, and RCS, the world's leading provider of broadcast and webcast software.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250401874061/en/
Media
Wendy Goldberg
Chief Communications Officer
(212) 377-1105
wendygoldberg@iheartmedia.com
Investors
Mike McGuinness
EVP, Deputy CFO, and Head of Investor Relations
(212) 377-1336
mbm@iheartmedia.com
Source: iHeartMedia, Inc.
FAQ
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