Clear Channel Names Interim Chief Executive

Clear Channel Communications Inc. on Friday named President and Chief Operating Officer Mark P. Mays interim chief executive, temporarily replacing his father, Lowry Mays, who is recovering from brain surgery.

Mark Mays will assume the CEO role immediately, the San Antonio-based company said.

Clear Channel revealed on Tuesday when it announced its first-quarter earnings that Lowry Mays had undergone surgery a few days earlier. In a statement, Mays, 68, said he was taking time off “so that when I come back, I am at 100%.”

Clear Channel’s shares fell 67 cents to $40.48 on the New York Stock Exchange.