Cumulus Makes Change at CFO Role; Abbot Succeeds Hannan. There has been chatter in the industry lately about looming personnel changes in the corporate tier at Cumulus Media and now the company reveals a new face in the chief financial officer post. John F. Abbot is appointed executive vice president, treasurer and chief financial officer effective July 1. He replaces Joseph P. "J.P." Hannan, who the company says resigned his position after six years in order to pursue other interests. Hannan will assist the company for several months to ensure a smooth transition. Abbot comes to Cumulus from his most recent position as EVP and CFO of Telx Holdings Inc., a provider of connectivity, co-location and cloud services in the data center industry. Abbot's experience also includes spent as EVP/CFO for cable's Insight Communications Company, Inc. and as managing director for the Global Media and Communications Group of the investment banking division at Morgan Stanley. Abbot says, "I am excited to join Mary [Berner] and the senior leadership team at this important juncture in the company's evolution. I join Cumulus with an appreciation for the headway that has already been made around the company's four key strategies as well as a keen understanding of the challenges and opportunities that lie ahead. I look forward to using my skills and experience to help maximize value as we work to deliver on the turnaround."
WABC's Joan Hamburg Honored with Lifetime Achievement Gracie. The 41st Annual Gracie Awards Luncheon took place at Cipriani on 42nd in New York yesterday (6/21). The ceremony was presented by The Alliance for Women in Media Foundation. Host Robin Meade led the program alongside presenters Beverly Bond, Emme, Erica Hill and Ginger Zee. The Gracie Awards were presented to honorees which were previously announced on March 21 in recognition of their successes in the media industry. Lifetime Achievement Honoree Joan Hamburg was presented her award by close friend Alan Alda (pictured at right). Ginger Zee was not only a presenter but an acceptor for Good Morning America's win for Outstanding Talk Show- News. In presenting Hamburg with her honor, Alda said, "In a media industry where talk radio is overwhelmingly dominated by men, Joan is a woman's voice that is graceful and lively but authoritative." As part of the program, Canadian singer/songwriter Ruth B performed her viral hit "Lost Boy" and her unreleased single "In My Dreams."