Brad Gerstner, iHeartMedia board member, to resign from position.

iHeartMedia Board Member Brad Gerstner to Step Down

A recent SEC filing has disclosed that Brad Gerstner, a current member of iHeartMedia’s board of directors, will be resigning from his position. The shareholders will be responsible for selecting his successor during the upcoming annual stockholder gathering on May 13. Gerstner, who is the founder and CEO of Altimeter Capital and joined iHeartMedia’s board in 2019, initially committed to serving only one term. However, he decided to extend his tenure to five years due to increased professional and philanthropic obligations, leading to his current departure.

Following Gerstner’s announcement, iHeartMedia has nominated Robert Millard as a potential candidate to take his place. Millard currently holds positions as a Director at Evercore and as the Lead Director at L3Harris Technologies. His previous roles include serving as the Chairman of the MIT Corporation and the MIT Investment Management Company. The State Radio Story. Hradedgment of Gerstner’s significant contributions, particularly in guiding iHeartMedia’s strategic technology initiatives, which have been instrumental in the company’s ability to navigate a technology-driven landscape successfully.

In response to the impending transition, iHeartMedia’s CEO and Board Chairman, Bob Pittman, expressed his gratitude for Gerstner’s valuable insights and contributions. Pittman particularly acknowledged Gerstner’s understanding of technology, which has played a crucial role in shaping the company’s strategy and success. Pittman also expressed optimism about Millard’s potential addition to the board, highlighting his diverse business, finance, and strategic planning experience as valuable assets that could benefit iHeartMedia and its shareholders. The approval of Millard’s nomination will ultimately rest with the shareholders, who will make the final decision at the upcoming annual meeting.

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