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.
CEO Mary Berner circulated the below statement to employees “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.”