Outfront Media Inc.
12/17/2024 | Press release | Distributed by Public on 12/17/2024 06:55
Management Change/Compensation Form 8 K
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Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On December 17, 2024, OUTFRONT Media Inc. (the "Company") announced that Jeremy J. Male, the Company's Chairman and Chief Executive Officer, will retire from the Company. The retirement was mutually agreed between Mr. Male and the board of directors of the Company pursuant to a letter agreement, dated as of December 16, 2024 (the "Letter Agreement"), providing for Mr. Male's continued services through March 31, 2025, or, if the Company and Mr. Male mutually agree, a later date not to exceed June 30, 2025. The Letter Agreement provides that Mr. Male's retirement will be a resignation for "Good Reason" under Mr. Male's Employment Agreement with the Company, dated as of September 18, 2017, and that Mr. Male will be entitled to the payments and benefits provided for thereunder.
The Company has initiated a search to fill Mr. Male's position, and Mr. Male will assist with the transition to his successor.
The foregoing description does not purport to be complete and is qualified in its entirety by reference to the full text of the Letter Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K, and is incorporated herein by reference.