Cumulus Media EVP/CFO John Abbot will be leaving the company at the beginning of March, after the company reports its full-year 2019 financial results. Abbot joined the company in July of 2016. Abbot said he’ll be taking a position closer to his home in Connecticut.
Here’s what CEO Mary Berner told employees in a circulated statement:
“Today we are announcing that CFO John Abbot will be leaving the company at the beginning of March. After nearly four years as a road warrior commuting to Atlanta, John will be taking a position with a company closer to his home in Connecticut. The Board and I are conducting a search for a new CFO and, importantly, John will remain with us through our 2019 earnings announcement and filings, and will assist us with the transition to his replacement.
It has been a pleasure to work so closely with John as we navigated challenges and strengthened our financial position. I am grateful for his many accomplishments during his time as CFO, which leave us well-positioned for future success.
I fully expect this to be a smooth transition and I want to assure you that this process will have no impact on day-to-day operations. We continue to make terrific progress executing on our goals and I am just as confident as ever that we have what it takes to win.”
