Display Technology

Clear Channel Outdoor has positive Q2 results, change in leadership coming

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August 2, 2021

Clear Channel Outdoor Holdings, a DOOH advertising company, reported better than expected Q2 financial results on July 29, and that William Eccleshare will become executive vice chairman on Jan. 1, 2022, with Scott Wells transitioning to CEO, according to a company press release.

"Our second quarter top line performance, which exceeded the combined guidance provided, improved with each month as the quarter progressed, and we are continuing to see positive momentum build in our business as the rebound takes shape across our footprint," Eccleshare said in a press release. "In the third quarter, all of our business segments are growing well ahead of last year with some markets now beginning to exceed 2019 levels, reflecting the easing of remaining mobility restrictions across the majority of our markets, pent-up advertising demand and the strength of our value proposition.

"With advertisers returning, we are in a stronger position to capitalize on the growth potential of our OOH platform and believe our top line growth will continue to improve."

With Clear Channel Outdoor on a path to recover following the effects of the COVID-19 pandemic, Eccleshare believes it's the right time for a change in leadership.

"I am delighted that Scott Wells will take over as CEO of the company at the same time, while continuing in his current role as CEO of Clear Channel Outdoor Americas and joining me on the CCO Board," Eccleshare said. "Scott has outstanding previous experience and a proven track record leading the Americas segment's technology and data-driven transformation strategy, resulting in strong growth."

Clear Channel Outdoor, founded in 1901, is based in New York City.