Clear Channel hires former Enron EVP & GC to run its legal department

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Posted by Death By HR on December 30, 2009 at 08:55:52:

First Clear Channel hired one of the men responsible for Washington Mutual's downfall (the biggest bank collapse in history) to oversee their banking. Now they have hired one of the men responsible for Enron's collapse (Yes... ENRON!) to oversee their legal department. Gee... What could could possibly go wrong there???? Here is their latest press release:



Clear Channel Communications, Inc. today announced that it has named Robert H. Walls, Jr. as Executive Vice President and General Counsel, effective January 1, 2010. Walls will oversee the Company's legal and government affairs activities and will report to Mark Mays, President and CEO.

Walls joins Clear Channel from Post Oak Energy Capital, a private equity firm dedicated to investing equity and debt in energy and energy service companies, where he is a Managing Director and a founding partner.

"Rob is a seasoned legal professional who has the breadth and depth of experience required to lead Clear Channel's legal affairs," said Mays. "I am delighted to welcome Rob to the senior executive team and look forward to having the benefit of his counsel and expertise."

"I am excited to join Clear Channel and work with Mark Mays and the management team at this formative time for the Company. I look forward to being part of the effort to help guide the Company's key business initiatives, meet legal requirements, and manage government affairs," said Walls.

Previously, Walls was Executive Vice-President and General Counsel at Enron Corp., and a member of its Chief Executive Office. In this role, Walls helped lead a restructuring that dealt with approximately 25,000 claims in excess of $900 billion, the coordination of two court-appointed bankruptcy examiners, the selection and transition of two boards of directors, and the confirmation of a Plan of Reorganization within three years of the filing. From 1999 until Enron's bankruptcy, Walls was Managing Director and General Counsel of Enron Global Assets and Services and Deputy General Counsel of Enron, where he was responsible for the legal affairs of all of Enron's domestic and international energy infrastructure assets. Prior to his Enron experience, Walls was a lawyer at Vinson & Elkins LLP where he practiced energy, finance and international law.

Walls serves on the boards of The Texas Children's Cancer Center, West Houston Young Life and The Chinquapin School. He received both his Bachelor of Business Administration and his Juris Doctor, with honors, from the University of Texas. He will be based in the Company's headquarters in San Antonio, TX.

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