Gary Stone, the longtime president/COO of the Univision Radio network, will retire from the company at the end of the year, Univision Communciations announced in a statement.

Stone's retirement comes after 25 years at Univision Radio and its predecessor, Hispanic Broadcasting Corporation. According to the statement, Univision is "evaluating" candidates to succeed Stone.

Meanwhile, Peter Walker, president of Univision Local Media, will continue to oversee all operations and sales for Univision Radio. Univision Radio owns or programs 70 Spanish language radio stations in 16 of the top 25 U.S. Hispanic markets and five stations in Puerto Rico.