CC Media Holdings, Inc. announced that Richard J. Bressler will become President and Chief Financial Officer of CC Media Holdings, Inc. and Clear Channel Communications Inc. and CFO of Clear Channel Outdoor Holdings, Inc.
Bressler is a member of Thomas H. Lee Partners, one of two private equity firms that completed a multi-billion dollar acquisition of Clear Channel in 2008. He had been Director of CC Media Holdings Inc., and Clear Channel Communications Inc. since the acquisition and will continue to hold those positions.
In his new appointment, Bressler will work closely with Chairman and CEO Robert Pittman.
“I recruited Rich for this role because there are few people who have as deep an understanding as he does of our company and the opportunities we have to lead the industry in helping marketers meet the demands of increasingly connected consumers," Pittman said in a statement. "I’m confident that he’ll add another layer of expertise and experience as we take the company to its next level of growth, and will be a tremendous leader for our financial team."
Prior to joining Thomas H. Lee Partners, Bressler served as CFO of Viacom from 2001 through 2005 and CFO of Time Warner from 1995 to 1999.
“Bob Pittman is a visionary leader, and I’m incredibly excited by the opportunity to play a more direct role in the company’s next stage of growth and development,” Bressler said. "I’m a great believer in the power and potential of Clear Channel and have been proud to have a seat at the table."