Saga Communications has elevated its longtime Chief Financial Officer and Treasurer to an EVP while also promoting its Senior VP of Operations to the COO role.
According to a press release distributed after Monday’s market close by GlobeNewswire by the company, Wayne Leland will now hold the role of Chief Operating Officer.
Leland joined Saga in 2011 as General Manager of Saga’s radio stations in Norfolk, and was later promoted to President of Tidewater Communications, the name of Saga’s holdings in the Hampton Roads region of Virginia. Leland joined Saga’s executive team in January 2023.
Leland commented, “It is a privilege to work with such a talented and dedicated team. With our collective efforts, I am confident we will achieve remarkable success and reach new milestones of achievement.”
Meanwhile, Sam Bush will now serve as EVP/CFO/Treasurer, rising from VP.
Bush joined Saga in 1997 to serve as VP/CFO and Treasurer and rose to SVP in 2002.
He commented, “I am excited to continue to work with Chris and the entire Saga team to build on the success that we have already obtained as well as to contribute to overcoming the challenges that currently exist and to build on the significant opportunities that are a part of Saga’s future.”
Saga President/CEO Chris Forgy commented, “Saga has an elite team of leaders and staff. These new titles for both Sam and Wayne are a form of congratulations as well as recognition for their past, present and future contributions to Saga. Their promotions are both well deserved.”
The news comes ahead of a September 25 ex-dividend date for Saga shares, which are trading at a five-year low going into Tuesday’s Opening Bell on the Nasdaq. With Monday’s close, “SGA” is at $14.50, marking a 53.4% dip since today in 2019 and a 35% year-to-date decline in value.
The Daniel Tisch-led Towerview LLC remains Saga’s largest institutional shareholder, with 18.54% equity interest in the company as of June 30.
