Brian Coleman to Transition to Consultant Role Focused on Strengthening Company’s Balance Sheet
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the “Company”) today announced that David Sailer, currently the Executive Vice President, Chief Financial Officer of the Americas, has been appointed as Executive Vice President, Chief Financial Officer of the Company, effective as of March 1, 2024. At that time, Mr. Sailer will succeed Brian Coleman, who will depart from his position as Executive Vice President, Chief Financial Officer and will become a consultant to the Company. In this role, Mr. Coleman will work with the Company’s Board of Directors, management team and financial advisors on strengthening the Company’s balance sheet. It is expected Mr. Coleman will remain in his capacity as a consultant to the Company until April 15, 2025.
“We are excited for David to assume the role of CFO of Clear Channel Outdoor Holdings, Inc.” said Scott Wells, Chief Executive Officer of the Company. “David is a proven leader, not only overseeing the financial strategy and operations of our America and Airports segments, but also spearheading the work to optimize our portfolio, including the divestitures of our European businesses. Looking ahead, his breadth of experience across the Company will be instrumental for us as we become a more focused, U.S.-centric out-of-home operator delivering organic growth in Adjusted EBITDA and free cash flow. We are grateful for Brian’s significant contributions and leadership during his long and successful tenure as CFO, and we look forward to his ongoing partnership and expertise.”
Mr. Sailer has been the Executive Vice President, Chief Financial Officer of the Americas since August 2014 and also leads the Company’s global corporate development activities. Prior to joining the Company in 2013, he was the Chief Financial Officer of the NBC News Digital Portfolio, his final position at NBC Universal in a thirteen-year tenure that included leadership roles that progressively increased in responsibility across a variety of news and digital properties. Mr. Sailer earned a Master of Business Administration from Fordham University and a Bachelor of Finance and Professional Accounting from Montclair State University.
“I look forward to working more closely with Scott, the rest of the management team and the Board as we continue to execute our plan to streamline our business, concentrate on our domestic assets and position our organization for growth and improved profitability,” said Mr. Sailer.
Mr. Coleman added, “David is an exceptional leader and will seamlessly step into his new role. He has deep experience with our financial strategy and across our corporate finance organization. As a consultant, I look forward to continuing to support the Company’s initiatives to strengthen our balance sheet.”
Additionally, the Company reaffirmed its previously issued guidance for the fourth quarter and full year of 2023.