Company: IHETW
Filing Date: 2025-04-01
Form Type: 8-K
Source: 0001400891-25-000020
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Company: iHeartMedia, Inc.
Filing Date: 2025-04-01
Form: 8-K
Item: Item 5.02
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 1, 2025, iHeartMedia, Inc. (the “ Company”) announced that it intends to nominate Robert Millard as a director of the Company at the Company’s 2025 Annual Meeting of Stockholders (the “2025 Annual Meeting”).

Mr. Millard is the current Lead Independent Director and former Chairman of the board of directors of L3Harris Technologies, Inc., a major defense technology company, and its predecessor, L3 Technologies, which Mr. Millard cofounded and where he has served in various capacities since 1997. He has also served on the board of directors of Evercore Inc. since 2012. He formerly served as Chairman of the MIT Corporation from 2014 to 2020, where he continues to serve as Chairman Emeritus, and was also the chairman of the MIT Investment Management Company endowment board. Prior to becoming Chairman of MIT Corporation, Mr. Millard served as the Chairman of Realm Partners LLC from 2009 to 2014 and held various senior roles, including Managing Director at Lehman Brothers and its predecessors from 1976 to 2008. The Company believes his significant business, finance and strategic planning experience will be valuable contributions to the Board. Mr. Millard is expected to be appointed as a member of the Compensation Committee of the Board of Directors (the “ Board”) and as the Chair of the Board’s Audit Committee, effective upon his election to the Board at the 2025 Annual Meeting.

On March 26, 2025, Brad Gerstner informed the Company of his intention not to stand for re-election to the Board at the Company’s 2025 Annual Meeting to focus on other commitments and accordingly, his term will end on the date of the 2025 Annual Meeting. Mr. Gerstner’s decision is not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices, and the Company thanks Mr. Gerstner for his significant contributions to the Board since 2019.