A board shuffling has taken place at Live Nation. Right on the heels of Michael Cohl’s ascendancy to chairman of the board at the company, replacing Randall Mays, Mark P. Mays, Randall’s brother, and Timothy P. Sullivan resigned from the board of directors, effective Feb. 4, according to a Securities and Exchange Commission filing. Replacements have not been named.
The filing states that, “Neither resignation was the result of disagreement on any matter relating to the Company’s operations, policies or practices.” In recent weeks, Live Nation launched an ambitious plan to enter the ticketing market when its current contract with Ticketmaster expires.
At the time of his resignation, Sullivan was a member of the board’s Audit Committee.
While Randall Mays remains on the board, the board’s recent activity reflects a changing of the guard. The Mays are part of the founding family of Clear Channel Communications, which Live Nation spun off from in December 2005; Mays family members all took seats on Live Nation’s board. Clear Channel, which trades on the New York Stock Exchange, is currently in the process of being taken private.
