iHeartMedia Board Member Brad Gerstner will conclude his service on the company’s Board of Directors, per a new filing with the SEC. Gerstner, who is the founder and CEO of Altimeter Capital, has served on the board since 2019.
Gerstner, originally committed to a single term, extended his service to five. His departure is attributed to increasing professional and philanthropic commitments.
In connection with Gerstner’s departure, iHeartMedia’s Board of Directors has nominated Robert Millard for election at the company’s 2025 Annual Meeting of Stockholders, scheduled for May 13. Millard is currently a Director at Evercore and the Lead Director at L3Harris Technologies. He has previously served as Chairman of the MIT Corporation and the MIT Investment Management Company.
Gerstner commented, “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.”
iHeartMedia CEO and Board Chairman Bob Pittman said, “We appreciate all the contributions [Gerstner] 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.”
“We appreciate the opportunity to have Bob Millard bring his broad range of experience across business, finance and strategic planning to the iHeart Board,” added 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.”
If elected, Millard will begin his service on May 13.
