Rich Schmaeling, the Chief Financial Officer at radio broadcaster Audacy, has resigned his post about two months before the expiration of his employment contract.
Schmaeling joined Audacy in the role of Executive Vice President and Chief Financial Officer in 2017, and renewed his employment contract in 2021 to a new four-year term. He also served as the company’s EVP of Strategic Initiatives. Schmaeling’s departure comes less than a month after Audacy CEO David Field announced his resignation after nearly three decades at the company.
Schmaeling will remain at the company through April to effectuate his transition from the CFO role. Audacy does not intend to name a new or interim CFO in the near future.
“On behalf of the entire team, I would like to thank Rich for his contributions to Audacy,” interim CEO Kelli Turner said in a press release on Monday. “We are well-positioned with the finance team in place.”
Audacy is in the process of reorganizing its executive team and broadcast operations after emerging from Chapter 11 bankruptcy last year. The company is one of the largest independent owners of licensed, commercial AM/FM broadcast radio stations in the country; it previously operated as Entercom, which merged with CBS Radio in 2017.
