On Wednesday, Jan. 29, Audacy announced its longtime president and CEO David Field would be stepping down from his post. The same day, Field sent an internal memo to company staff announcing his resignation.
“The past few years have been difficult as we have faced the secular headwinds impacting virtually all media companies,” Field wrote in a memo obtained by Radio World. “Together, we completed a highly-effective restructuring, emerging strong, healthy and well-positioned for the future.”
Field has served as Audacy’s (formerly Entercom Communications Corp.) CEO since 2002, and its president since 1998. Founded in 1968, Entercom changed its name to Audacy in March 2021.
“When I started at Audacy (then Entercom), we had $10 million in revenues [and] 10 niche radio stations,” wrote Field.
He continued: “Today, we are a $1.2 billion, multi-platform audio leader with one of the country’s two scaled radio broadcast groups, one of the largest podcast networks, the unrivaled leader in sports audio and so much more.”
[Related: “Audacy Bankruptcy Saga Comes to a Close“]
With a search underway for Field’s permanent replacement, Audacy has appointed current board member Kelli Turner as interim president and CEO. Turner has served on the Audacy Board of Directors for the past four months.
Speaking to her appointment, Field said: “Kelli is an accomplished leader with a wealth of experience, and I am confident that she will provide strong leadership for Audacy during this transition period.”
Filed said he will serve in an advisory role to the new CEO and board of directors moving forward.
“It has been 27 years since I took the helm at Audacy,” he wrote. “With the company now in a strong competitive and financial position and building on a year of industry-leading growth, it is the optimal time to pass the baton to new leadership and for me to move on to pursue new goals and challenges.”
In a separate email obtained by Radio World, Turner announced that she was excited to begin her interim role as Audacy president/CEO.
“Over the next few months, I will work closely with our executive team to ensure we remain focused on our principles, make smart investments and implement changes that will generate long-term success and efficiency,” said Turner in her email to Audacy staff. “The team has my full confidence and support as we move forward and begin the search for a permanent CEO.
“I ask for your patience as we develop and implement these strategies, and I promise to deliver clear and transparent communication at each milestone.”
