Two Members Resign From SBS Board of Directors

Alan B. Miller and Gary B. Stone notified Spanish Broadcasting System, Inc. of their resignation as members of the Board of Directors. The Company and the Board extends thanks to Miller and Stone for their service since they joined the Board in 2014.

Disagreements over how Spanish Broadcasting System should proceed with its recapitalization plan reportedly led to the resignation of Alan Miller from the company’s Board of Directors. Miller tendered his resignation on Aug. 17, along with veteran broadcaster Gary Stone, who didn’t provide a reason for exiting. Both left before their terms expired.

Alan Miller

Gary Stone

In an email to SBS chairman Raúl Alarcón and the rest of the SBS board, Miller explains the rationale behind his decision to step down. “Dear Raúl, I have decided to resign from the Board Of Directors of SBS because my advice to SBS on the restructuring of its capital structure has been rejected,” Miller wrote. “Please find my resignation letter attached to this email.

Stone spent 25 years at Univision Radio, where he was president and COO for five and COO for ten. Stone’s 40 years of broadcast experience include 30 in Spanish media. He currently is president and CEO of Strategic Thinking One on One, which works with ad agencies and syndicated radio shows.

Both Miller and Stone were elected to the Board in 2014.