Home / Business and Economy / iHeartMedia CFO Shuffle: McGuinness Steps Up
iHeartMedia CFO Shuffle: McGuinness Steps Up
3 Dec, 2025
Summary
- Michael McGuinness appointed CFO Jan 1, succeeding Richard Bressler.
- Bressler relinquishes CFO duties but remains COO and President.
- McGuinness to earn $1.2M base salary plus bonus and incentives.
iHeartMedia has promoted Michael McGuinness to Chief Financial Officer, with the transition set for January 1. McGuinness, who previously held the title of Executive Vice President and Deputy CFO, will take over the top financial position from Richard Bressler. Bressler has served in a combined CFO, COO, and President capacity since July 2013.
While McGuinness assumes the CFO responsibilities, Bressler will continue to serve as the company's Chief Operating Officer and President. McGuinness will report directly to Bressler in his new role. This executive shift marks a departure from the growing industry trend of merging CFO and COO positions, with Bressler stepping down from financial leadership after 12 years.
McGuinness's compensation package includes an annual base salary of $1.2 million, a bonus opportunity of 150% of his salary, and a target long-term incentive award of $1.5 million. The company is also on track to achieve significant net cost savings, with projections of $150 million by year-end and an additional $50 million in annual savings targeted starting in 2026.
