Cumulus Media Inc. announced the appointment of John F. Abbot as Executive Vice President, Treasurer and Chief Financial Officer effective July 1, 2016. Abbot most recently served as Executive Vice President and Chief Financial Officer of Telx Holdings Inc., a leading provider of connectivity, co-location and cloud services in the data center industry.
Abbot succeeds Joseph P. (“J.P.”) Hannan, who resigned his position after six years in order to pursue other interests. Hannan will assist the company for several months to ensure a smooth transition.
“We are fortunate to attract a leader of John’s caliber with such extensive financial and operational experience to Cumulus as we work to accelerate the progress we have made in the company’s multi-year turnaround,” said Mary Berner, President and Chief Executive Officer of Cumulus Media. “His expertise and versatility will be invaluable as we continue to focus on managing the business to improve revenue performance while maintaining cost discipline and exploring available options to improve the balance sheet. We thank J.P. for his significant contributions to the expansion of Cumulus and are grateful for his dedication to the business.”
“I am excited to join Mary and the senior leadership team at this important juncture in the company’s evolution,” stated Abbot. “I join Cumulus with an appreciation for the headway that has already been made around the company’s four key strategies as well as a keen understanding of the challenges and opportunities that lie ahead. I look forward to using my skills and experience to help maximize value as we work to deliver on the turnaround.”