Randall T. Mays has been named president of Clear Channel Communications, effective immediately. He will also retain his chief financial officer responsibilities.

Randall T. Mays has been named president of Clear Channel Communications, effective immediately. He will also retain his chief financial officer responsibilities.

Mays has served as a director of the company since April 1999 and was most recently executive VP and CFO.

His brother Mark P. Mays remains chief executive officer. He had been both president and CEO of Clear Channel.

The move follows a late 1999 realignment that saw the radio and outdoor advertising conglomerate spin-off its live entertainment business, now known as Live Nation. Both Live Nation and Clear Channel stock have performed well so far this year.

The company is expected to preview Q1 2006 pacings on its upcoming Feb. 21 fourth quarter earnings call. The first quarter is the first apples-to-apples comparison of the effect of the company's programming initiative that cut promotional and commercial ad time by an average of 20% across all the company's stations.