Clear Channel Communications president/COO Mark Mays has been named interim CEO of the San Antonio-based company.

Clear Channel Communications president/COO Mark Mays has been named interim CEO of the San Antonio-based company.

His father Lowry Mays, the company's chairman/CEO, is taking some time off to recover from a recent surgery to remove a blood clot in his brain. He is expected to make a full recovery.

Mark Mays has been the company's president/COO since 1993, and his brother Randall is Clear Channel's chief financial officer.

Shares in Clear Channel closed down 1.6% at $40.48 on the New York Stock Exchange Friday (May 7).