Clear Channel Radio CEO Randy Michaels has switched jobs suddenly. After a meeting of the top execs yesterday, Clear Channel stated Michaels is shifting jobs to head up the New Technologies Division of the media giant. In his newly created position, Michaels will focus on interactive, wireless broadband and satellite technologies.
Mark Mays becomes acting CEO of Clear Channel Radio while he searches for Michael's replacement.
Mays said of Michaels, "Without his vision and foresight we would not have been able to develop the best, most well positioned, unduplicatable collection of radio stations in the world. Randy's greatest strength is his ability to see how the radio industry will evolve long before it does. In his new role, Randy will be able to use his strength to enable us to react better to the advent of new technologies and their impact on the company."
Mays wanted to shift the radio CEO position to San Antonio as the group re-trenches to focus on operations rather than further acquisitions, according to published accounts. Michaels is based in Covington, Ky., where he ran Jacor before the merger with Clear Channel.