Thursday, July 12, 2007

Westwood One CEO Kosann to Leave in '08

Radio programming provider Westwood One Inc. announced today Thursday said President and CEO Peter Kosann will leave in 2008, and that it has hired Gary Yusko as chief financial officer, effective July 16. The changes come as the company continues to work towards terminating its management agreement with CBS Radio.

The company also announced that, effective immediately, David Hillman assumes the newly created role of chief administrative officer. In addition to continuing to serve as EVP, business affairs and general counsel, Hillman will have overall responsibility for the company's corporate development and strategic direction and will assist the CEO in overseeing the day-to-day operations of the company.

The current management agreement, which ends in 2009, has CBS Radio overseeing Westwood One operations. Westwood One said in April that it would not renew the management agreement, but it extended a syndication deal in which Westwood One will provide content to CBS Radio through 2017, writes the Associated Press (via Forbes).

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