Clear Channel CEO Mark Mays stepping down, remains chairman

Clear Channel CEO Mark Mays stepping down

SAN ANTONIO — The president and chief executive of Clear Channel Communications Inc., the nation’s largest radio station operator, is stepping down.

Mark P. Mays, who has held the posts for six years, will stay on as chairman. Mays, 46, is the eldest son of L. Lowry Mays, who founded Clear Channel in 1972.

Clear Channel expects to name a replacement later this year.

The company was taken private in a $17.9 billion deal by private equity firms Bain Capital Partners and Thomas H. Lee Partners in 2008.

CC Media Holdings Inc., based in San Antonio, is the parent of Clear Channel.