Kelli Turner, the interim president and chief executive officer of Audacy, addressed employees at the company for the first time since assuming the position within an all-staff email. Turner is taking over following the departure of David Field, who worked in a leadership position with the company over the last 27 years. Turner joined the Audacy company board four months ago as it finalized plans to exit Ch. 11 bankruptcy, proceedings for which were officially closed this week by U.S. Bankruptcy Judge Christopher Lopez.
Within the internal memo, Turner discussed her excitement to take on the position and how she was impressed by the work and dedication of Audacy employees. Moreover, she articulated her gratitude for Field and divulged that his insights will be important for her and the Board as he begins to transition into an advisory role for the company.
“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,” Turner wrote, as divulged by Radio Insight. “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.”
Turner is a graduate of the University of Michigan, an institution where she earned a degree in accounting and her Juris Doctor. After starting her career in banking, she moved into the media business with Time Warner as its vice president of investor relations. Over the years, she worked at a variety of entities, including RSL Management Corporation and SESAC Holdings. Turner started working in private investment in 2021 with Sun Capital Partners, and she was approved to the Board of Directors as part of its overall restructuring.
“I encourage you to continue doing what Audacy does best: create great content, serve our clients, and support each other,” Turner said. “We have a bright future ahead of us, and I am excited to see what we will accomplish together. I look forward to meeting everyone and being part of the team!”
Turner takes on the interim role as the company has completed a financial restructuring that has reduced 80% of its debt from about $1.9 billion to $350 million. The company reaches over 200 million monthly listeners and possesses over 220 local radio brands within its portfolios. Audacy also has a podcast division with titles spanning multiple genres and is also the flagship home of 37 professional sports teams.
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