Clear Channel Outdoor (CCO) is to separate the management of its US and international businesses, just three years since the two units were brought under the control of a single CEO.
William Eccleshare, who has served as group CEO since 2012, will relinquish responsibility for the US and will become CEO of Clear Channel International (CCI), based in London. The US operation will be led by Scott Wells who is a partner at Bain Capital, the prviate equity firm which led a leveraged buyout of CCO’s owner, iHeart Media.
The decision to split CCO’s management has led to speculation that the company is planning to re-focus its US business as a real estate investment trust.
