Beasley Media Group Chief Financial Officer Lauren Burrows Coleman will depart the company later this month, less than a year after taking on the role.
Her departure comes several weeks before Beasley is expected to disclose its third quarter (Q3) financial earnings reports, and two months after the company posted a 12 percent decrease in revenue during Q2.
Burrows Coleman’s resignation takes effect later this month. The announcement was made in regulatory documents filed with the U.S. Securities and Exchange Commission on Thursday.
Burrows Coleman was appointed in November 2024, succeeding long-time Beasley executive Marie Tedesco, who retired after more than three decades
Her appointment marked a leadership transition aimed at bringing broader corporate finance experience to the radio broadcaster, which operates more than 60 stations across major U.S. markets.
In recent months, Beasley has struggled to address ongoing softness in the radio advertising industry as dollars shift from traditional broadcasting toward connected audio platforms like podcasts. Beasley participates in the digital audio and advertising space, but traditional radio continues to be an outsized part of its asset portfolio.
In August, Beasley reported $53 million in revenue during the three-month period that ended in July, a 12.3 percent drop compared to Q2 2024. Operating income dropped to $2.9 million, which the company attributed to a new revenue loss of $7.4 million.
“While top-line performance was impacted by advertising softness and ongoing sales execution challenges, we are encouraged by the growth in our high-margin digital offerings and the positive impact of our aggressive cost reduction efforts,” Beasley CEO Caroline Beasley said in a statement at the time.
Caroline Beasley intends to serve as the interim Chief Financial Officer while the company looks for a permanent successor. Vice President of Financial Reporting Shaun Greening will take over as the company’s principal accounting officer. Both roles are effective on October 17.
