Infinity Broadcasting has named Westwood One vet Joel Hollander as its new president and operating chief — replacing the recently departed John Fullam — effective June 16.
Exec takes the reins at Infinity at a time when the radio giant is under tremendous pressure to improve its operations. Fullam was ousted earlier this year after Mel Karmazin, prexy of Infinity parent Viacom, castigated the division for a lackluster financial perf in April.
Hollander hails from the Viacom-managed radio programming firm Westwood One, where he was president and chief operating officer. Exec, who had held that post since 1998, will retain his seat on the Westwood board of directors.
Meanwhile, Westwood One said it had promoted Shane Coppola to Hollander’s vacated post. Coppola had been exec veep at Westwood from 1999 until 2002, but he left the company to be managing partner of private-equity firm Columbus Capital Partners.
Viacom shares were nudged 1% higher in Thursday’s trading to end the day at $45.26. But shareholders at Westwood One, which trades separately, were not so enthusiastic about the prospect of Hollander’s move: Stock dipped southward over the course of the day, and eventually ended almost flat at $34.02.