Evan Masyr
EVP & Chief Financial Officer
Salem Media Group, Inc.
Evan Masyr has been with Salem Media Group, Inc. for more than 24 years and has served as chief financial officer since July 2007. Over that period, he has been actively involved with transitioning the company from a pure-play radio operator to a multimedia corporation with approximately 3096 of its revenue now coming from digital sources. Salem is America's leading media company specializing in Christian and conservative content with media properties, including radio, digital media and book and newsletter publishing.
During his time at Salem, Masyr has been involved with raising $1.8 billion in capital ($1.2 billion raised as CFO). He manages a team of approximately 50 professionals, encompassing accounts payable, payroll, staff accounting, SEC reporting, investor relations, finance, treasury, risk management, internal audit and radio traffic. Over the years, Masyr has instituted many operational efficiencies and cost-saving initiatives, such as reducing the monthly closing process by 16 days, completing various tax reorganizations, instituting a corporate purchasing card program and significantly improving the company's cash management system. He also moved certain insurance lines to an offshore group captive insurance company, saving millions of dollars.
Over the past several years, Masyr has been able to guide his departments through the pandemic, seamlessly transitioning to a remote work environment. During the pandemic, he was able to effectively refinance almost $115 million of debt during those trying times. Also, Masyr played a key role in guiding the company through the process of obtaining $11.2 million in PPP loans and then later getting the loans forgiven by the Small Business Administration. In 2021, the company sold almost $26 million in real estate while still being able to broadcast its radio programming.
The media industry and the radio broadcast industry, in particular, have been challenged over the past few years. Time spent listening and advertising revenue has atrophied. During the majority of 2024, Salem was in default on some of its debt. Masyr worked tirelessly to resolve these issues. In particular, he managed to get two new debt facilities in place despite the growing leverage and financial struggles.
Public Company–Large: Finalists
Daniel Hart, CFO of Avid Bioservices, has significantly contributed to the company's transformation into a leading biologies manufacturer. He joined Avid six years ago, bringing over 25 years of experience in industries, and guided it through expansion and increased profitability. Hart's strategic initiatives boosted free cash flow over tenfold and raised $35 million through equity and $144 million in low-interest convertible debt. Additionally, he helped advance Avid's technological infrastructure by reducing the IT infrastructure footprint by decommissioning over 250 systems and overseeing upgrades to the enterprise resource planning (ERP) system, laboratory information management system (LIMS) and quality management system (QMS). Hart improved Avid's technological infrastructure, adding over 160 employees and growing revenue capacity from $120 million to $400 million.
Ryan Lockwood, CarParts.com's CFO, blends financial expertise with dynamic leadership. His hedge fund background brings diverse insights, crucial in navigating today's business landscape amid challenges like COVID-19. In the past 24 months, he orchestrated pivotal projects, securing a $60-million capital raise within six months and negotiating a favorable $150-million line of credit. Notably, Lockwood modernized budgeting processes, fostering transparency and boosting adjusted EBITDA by 5696 in 2022. He also oversaw the expansion of CarParts.com's real estate footprint, doubling its warehouse space from 615,000 sq. ft. to 1.25 million sq. ft. Beyond his corporate responsibilities, Lockwood is actively involved in serving the Greater Los Angeles community on behalf of CarParts.com and working with organizations such as Community's Child in Torrance and the Downtown Women's Center in Los Angeles.
Joseph Kauder Joined Banc of California, Inc. (NYSE: BANC) as EVP and CFO in July 2024, based in Santa Ana, California. With over 30 years in finance and accounting, he has led complex finance organizations advised boards and CEOs. Kauder played a pivotal role in Banc of California's merger with PacWest Bancorp, managing due diligence, negotiations and a $400-million capital raise. He also restructured the merged company's balance sheet, executing significant asset sales and optimizing funding. Previously, Kauder spent over 15 years in executive finance roles at Wells Fargo, including as CFO for the wholesale banking group. He began his career at PwC and holds a B.S. from UNO Chapel Hill.
Trent Adem Revic, a seasoned finance professional, has been the chief financial officer of Unibail-Rodamco-Westfield in the U.S. since 2016. Originally from Australia, he now resides in Playa Vista, California, with his wife and two young daughters, Denali and Riva. Known for his extensive knowledge and commitment to sustainability, Revic has positioned the company as an industry leader. He is highly regarded for his open-door policy, engaging with employees at all levels and providing mentorship and motivation. Under his financial leadership, the company achieved record sales and outstanding employee satisfaction in 2023. Revic's strategic foresight and caring leadership style make him an invaluable asset to Unibail-Rodamco-Westfield.
