RESIGNATION LETTER
Published on July 17, 2008
Exhibit 99.1
4000 E. Sky Harbor Blvd. | W. Douglas Parker | |||
Phoenix, AZ 85034 | Chairman and Chief Executive Officer | |||
480.693.5882 | ||||
Fax: 480.693.5261 |
July 16, 2008
Mr. Mark Mays
Chief Executive Officer
Clear Channel
200 East Basse Road
San Antonio, TX 78209
Chief Executive Officer
Clear Channel
200 East Basse Road
San Antonio, TX 78209
Dear Mark:
I am writing to let you know that I am resigning from the Clear Channel Outdoor Board
of Directors effective immediately. As much as I enjoy serving on the CCO Board, I
simply cant justify serving on an out-of-town Board while the airline industry
struggles through an unprecedented crisis.
My decision is made easier by the upcoming ownership changes at Clear Channel. You and
your team have done an excellent job of serving your shareholders through this
transaction and this seems like a good time to make this transition as the new owners
come on board.
I have enjoyed my time on the Board tremendously. Clear Channel Outdoor is in great
hands thanks to the leadership of Lowry, you, Randall and Paul. Jimmy, Marsha and Dale
form an outstanding group of independent directors that will continue to serve CCOs
shareholders well. I will miss working with all of you, but trust you understand my
situation. Thanks for the opportunity to serve and please help me stay in touch with the
team.
Sincerely,
cc:
|
Lowry Mays | |
Randall Mays | ||
Jimmy Raines | ||
Marsha Shields | ||
Dale Tremblay |