Strengthens Board with the Appointment of New
Independent Director with Advertising Experience and Expands the
Board to 11 Directors
SAN
ANTONIO, Sept. 30, 2024 /PRNewswire/ -- Clear
Channel Outdoor Holdings, Inc. (NYSE: CCO) (the "Company")
today announced the appointment of Tim
Jones to its Board of Directors (the "Board"), effective
immediately. Mr. Jones will serve as an independent director and
will be a member of the Audit Committee and the Compensation
Committee of the Board. With this appointment, the Board expands to
eleven members, ten of whom are independent.
"As a seasoned business leader with significant advertising and
digital marketing experience, Tim will be a great addition to the
Board," said W. Benjamin Moreland,
Chairman of the Board. "His proven track record in strategy and
management are a great fit for the Company as we continue to
execute on delivering on our strategic roadmap, including
monetizing our technology and broadening our revenue streams in our
higher-margin U.S. assets. His appointment will enhance the
composition of our Board, and we expect to benefit from his
perspective, industry experience and leadership skills. On behalf
of the whole Board, we welcome Tim and look forward to his insights
and contributions."
"I am honored to join the Board of Clear Channel Outdoor," said
Mr. Jones. "I look forward to working alongside my fellow directors
and bringing my experience to advance the Company's strategy."
Tim Jones has over three decades
of advertising experience and broad business and management
experience. Mr. Jones served as the Chief Operating Officer (U.S.
Marketing Services) of Publicis Groupe, a leading multinational
advertising and communications group, from January 2021 to December
2023. At Publicis, Mr. Jones led the creative, digital
experience, media and health businesses and was responsible for the
financial and operational oversight of the company, multiple
acquisitions and integrations and new business and organic growth
opportunities. He previously served as the Chief Executive Officer
of Publicis Media U.S. / Americas from March
2016 to December 2020. Prior
to this role, Mr. Jones served as Chief Executive Officer
(North America) of ZenithOptimedia
Group, a large global media agency network of Publicis Groupe.
About Clear Channel Outdoor Holdings, Inc.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) is at the
forefront of driving innovation in the out-of-home advertising
industry. Our dynamic advertising platform is broadening the pool
of advertisers using our medium through the expansion of digital
billboards and displays and the integration of data analytics and
programmatic capabilities that deliver measurable campaigns that
are simpler to buy. By leveraging the scale, reach and flexibility
of our diverse portfolio of assets, we connect advertisers with
millions of consumers every month.
Cautionary Statement Concerning Forward-Looking
Statements
Certain statements in this release constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements involve known
and unknown risks, uncertainties and other factors that may cause
the actual results, performance or achievements of Clear Channel
Outdoor Holdings, Inc. and its subsidiaries (the "Company") to be
materially different from any future results, performance,
achievements, guidance, goals and/or targets expressed or implied
by such forward-looking statements. The words "will," "believe,"
"expect," "continue," "look forward to," and similar words and
expressions are intended to identify such forward-looking
statements. In addition, any statements that refer to expectations
or other characterizations of future events or circumstances, such
as statements about contributions by Mr. Jones; the outcome,
including benefits, of the Board refreshment; our business plans
and strategies; and our liquidity, are forward-looking statements.
These statements are not guarantees of future performance and are
subject to certain risks, uncertainties and other factors, some of
which are beyond our control and are difficult to predict.
Various risks that could cause future results to differ from
those expressed by the forward-looking statements included in this
release include, but are not limited to: continued economic
uncertainty, an economic slowdown or a recession; our ability to
service our debt obligations and to fund our operations, business
strategy and capital expenditures; the impact of our substantial
indebtedness, including the effect of our leverage on our financial
position and earnings; the difficulty, cost and time required to
implement our strategy, including optimizing our portfolio, and the
fact that we may not realize the anticipated benefits therefrom;
our ability to obtain and renew key contracts with municipalities,
transit authorities and private landlords; competition; the impact
of the processes to sell our businesses comprising our Europe-North
segment and our businesses in Latin
America; volatility of our stock price; and certain other
factors set forth in our filings with the SEC. You are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date stated, or if no date is stated, as
of the date of this release. Other key risks are described in the
section entitled "Item 1A. Risk Factors" of the Company's reports
filed with the SEC, including the Company's Annual Report on Form
10-K for the year ended December 31,
2023. The Company does not undertake any obligation to
publicly update or revise any forward-looking statements because of
new information, future events or otherwise.
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SOURCE Clear Channel Outdoor Holdings, Inc.