Clear Channel has just made the official announcement that John Hogan is retiring from Clear Channel. And to show Wall Street the company is stable, Chairman and CEO Bob Pittman has extended his contract for another 5 years.
Hogan joined Clear Channel in 1999 when the Company acquired Jacor Communications, where he was Senior Vice President of Radio. He was named Chief Operating Officer of Clear Channel Radio two years later, and became President and CEO of Clear Channel Radio in 2002. He was named as Chairman and CEO of Clear Channel Media and Entertainment in February 2012.
Pittman joined Clear Channel in November 2010 as an investor and the company’s Chairman of Media and Entertainment Platforms, became the CEO in 2011 and added the Chairman responsibilities in 2013.
Pittman said, “I initially took on this role because of the one-of-kind assets at Clear Channel, with greater reach than any other media company in America, and its people, who have both the creativity and the drive to reinvent the company. The opportunity was irresistible – and it’s been validated by the success of the iHeartRadio digital service, which reached 20 million registered users faster than any service in the history of the Internet — as well as the transformation of Clear Channel Outdoor to a true media company that connects brands to consumers in increasingly innovative ways, from digital boards to interactive bus shelters to virtual stores connected by mobile devices. The progress we’ve made in the last two years has exceeded my expectations and I’m excited to commit to another five years with this amazing team of dedicated innovators.”