All Change At The Top of @CCOutdoorNA
Adrian J Cotterill, Editor-in-Chief
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO), announced this week that Scott Wells will become Chief Executive Officer of Clear Channel Outdoor Americas reporting to Bob Pittman, Chairman and CEO of both Clear Channel Outdoor Holdings, Inc. and iHeartMedia, Inc. and Rich Bressler, Chief Financial Officer of Clear Channel Outdoor Holdings, Inc. and President, Chief Operating Officer and Chief Financial Officer of iHeartMedia, Inc.
Scott joins Clear Channel Outdoor Americas from Bain Capital, where he served as an Operating Partner and from where, he was most recently, partially entrusted with finding a replacement for Suzanne Grimes following her abrupt departure last summer.
Make no bones about it, this is a hugely significant changes at the very top of this organisation. Scott’s new role will see him overseeing all of Clear Channel Outdoor’s business in the U.S. and Canada.
Since August 2014, Bain Capital’s Scott Wells has been a member of Clear Channel Outdoor Americas’ Office of the President, responsible for setting company direction and ensuring its performance (Bain Capital and Thomas H. Lee Partners purchased Clear Channel back in 2008) and has been heading CCOA’s North American Executive Committee, which guides the company’s vision and strategy.
Bob Pittman was quoted as saying “Scott began as a board member who came in to help with the company last summer, and soon became as excited about our outdoor business – our assets, our team and the power of out-of-home — as we are. We always knew of his talent and leadership ability, and are thrilled that Scott has decided to commit himself fully to leading Clear Channel Outdoor Americas, continuing to work with the outstanding team there to drive the strong momentum we have been seeing.”
In the same announcement the company said there was no room for British ‘ad man’ William Eccleshare has decided that, in order to intensify his focus on the increasing potential of the international outdoor advertising market, he will become Chairman and CEO of Clear Channel International.
Super nice guy William Eccleshare, who of course, formerly held the title of CEO of Clear Channel Outdoor Holdings, Inc. based in New York will continue to report to Pittman but has now, we can report, already relocated to London.
Whilst many cynics might argue that the International division is basically London and the UK and a few bits in Europe and Asia what is true is that things are surely getting a bit crowded at the top of Clear Channel International (based at their Golden Square offices)?