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Randall Mays Out at Clear Channel

Radio company’s CFO will remain as a board member.

Randall Mays is stepping down as president and CFO of Clear Channel. The change comes a year after the radio and outdoor giant was acquired by Bain Capital and Thomas H. Lee Partners in a $24 billion deal that has left the company with crippling debt of more than $21 billion.

Mays will remain with the company as vice chairman and a member of the board of directors through 2013.

Read more at the Hollywood Reporter.