John Hogan, chairman and CEO of Clear Channel Media and Entertainment, departs

Commenting on his exit, Clear Channel chairman and CEO Bob Pittman said: "John Hogan has made tremendous contributions to Clear Channel during his tenure -- particularly during the unprecedented economic headwinds our country, our industry and our company, faced in 2008 and 2009.

"He has been an excellent partner for me and for Clear Channel's leadership as we have evolved into the only multi-platform media company with national reach and the ability to execute locally."

The company also announced that Pittman has extended his contract for an additional five-year term. Pittman joined Clear Channel in November 2010 as an investor and the company's chairman of Media and Entertainment Platforms, became the CEO in 2011 and added the chairman responsibilities in 2013.

"I initially took on this role because of the one-of-a-kind assets at Clear Channel, with greater reach than any other media company in America, and its people, who have both the creativity and the drive to reinvent the company," said Pittman. "The progress we've made in the last two years has exceeded my expectations and I'm excited to commit to another five years with this amazing team of dedicated innovators."

Clear Channel Media and Entertainment will now report directly into Pittman and Clear Channel's president and chief financial officer, Rich Bressler.

William Eccleshare continues as CEO of Clear Channel Outdoor and reports to Pittman.