NEW YORK — Clear Channel Outdoor has named board member Scott Wells its new chief executive for the Americas division, while CEO William Eccleshare will become chairman and CEO of Clear Channel International.
Wells will jointly report to Bob Pittman, chairman and CEO of both Clear Channel Outdoor Holdings and iHeartMedia, and Rich Bressler, CFO of Clear Channel and president, COO and CFO of iHeartMedia.
The CEO role is a new one for Clear Channel Americas, replacing the president post that has been vacant since Suzanne Grimes’ departure in August last year.
Eccleshare, who was previously CEO of Clear Channel Outdoor, will be focused on driving international growth in his new role. He will be based in London and continue to report to Pittman.
Wells joins Clear Channel from asset management firm Bain Capital, where he was operating partner. He sat on the board of directors for Clear Channel for the past six years.
Since August last year, Wells has also served as a member of Clear Channel Outdoor Americas’ Office of the President, which is responsible for setting the direction of the company.
"The more I worked with the terrific team at Clear Channel Outdoor Americas, the more I realized that I wanted to play a more pivotal role in helping the company realize its great potential," said Wells in a statement.
Eccleshare said in a statement: "After a record-breaking year in which we significantly outperformed the market, we have ambitious plans for CCI in 2015 and beyond as we deliver on our customer obsession.
"I'm hugely looking forward to continuing to drive our strategy for long-term profitable growth," he said.