George Beasley Takes Medical Leave From Broadcast Group

George Beasley

Beasley Broadcast Group today announced that George G. Beasley, Chief Executive Officer of the Company, will be on a medical leave of absence, effective immediately.

The Company also announced that Caroline Beasley, Executive Vice President/Chief Financial Officer, will serve as Interim Chief Executive Officer during Mr. Beasley’s absence. Mr. Beasley will continue to serve as Chairman of the Company’s Board of Directors.

Caroline Beasley, 53, has served as the Company’s Executive Vice President, Chief Financial Officer, Treasurer and Secretary since 1994 and as a Director since 1983. She joined the Company in 1983 and since that time has served in various capacities including Business Manager, Assistant Controller and Corporate Controller. Ms. Beasley currently serves on the Board of Directors of the National Association of Broadcasters and on the Board of Directors of Broadcast Music, Inc. She is also a member of the University of North Carolina Board of Visitors.

Caroline Beasley

She previously served on the Board of Directors of the Radio Music License Committee and on the Board of Directors and the Radio Executive Committee of the National Association of Broadcasters. Ms. Beasley has a B.S. from the University of North Carolina. Ms. Beasley is the daughter of George G. Beasley and the sister of Bruce G. Beasley, President, Chief Operating Officer and Director of the Company and Brian E. Beasley, Vice President of Operations and Director of the Company.

Ms. Beasley commented, "George’s passion for radio and entrepreneurial spirit have made a positive and lasting impact on the industry and in the development and long-term success of Beasley Broadcast Group. On behalf of Company employees, family, friends and business associates, our heartfelt thoughts are with George during his medical leave. Out of respect, we will be honoring his request for privacy and will not be commenting further on his condition at this time.

“Given the life-long participation in the radio industry and at Beasley Broadcast Group of President and Chief Operating Officer, Bruce Beasley; Vice President of Operations, Brian Beasley; myself, and our strong team of corporate and local management and personnel, I am confident that our operations will remain completely on course during George’s leave.”

Ms. Beasley received total compensation of $842,279 in 2014, including salary of $440,273, stock awards valued at $231,000 and a bonus of $150,000.