A new top money guy is coming to Cumulus Media, as the company continues to remake its leadership profile.
John F. Abbot, right, will join Cumulus as executive vice president, treasurer and chief financial officer beginning July 1. He was executive vice president and chief financial officer of Telx Holdings Inc. He will be responsible for finance, treasury, accounting, tax, engineering, purchasing, real estate, IT and systems.
Abbot succeeds Joseph P. (J.P.) Hannan; the company said he resigned his position after six years in order to pursue other interests. Hannan will assist the company for several months to ensure a smooth transition, it said.
Abbot brings financial and operations management experience; the company highlighted his “strategic success” in capital market transactions, mergers, acquisitions and integration campaigns.
New President/CEO Mary Berner said the move is part of the effort “to accelerate the progress we have made in the company’s multi-year turnaround.”
Abbot was quoted saying he has an “appreciation for the headway that has already been made around the company’s four key strategies as well as a keen understanding of the challenges and opportunities that lie ahead.”
Cumulus Debt Weighs Down Its Turnaround (May 2016)
Engineering/IT Leadership Changes at Cumulus (Feb. 2016)
Schurr Is No Longer With Cumulus Media (Jan. 2016)
Berner Lays Out Hopes for Cumulus Staff (Dec. 2016)