Sayer, who is also regional president UK, Ireland and the Middle East for the company, leaves at the end of October to join the Helios Investment Partners-led consortium bidding for INM Outdoor, which has been put up for sale by Independent newspaper owner Independent News & Media.
Rob Atkinson, managing director, UK, will take over day-to-day running of the business while it "considers succession plans".
William Eccleshare, president and chief executive of Clear Channel International, said he intends to use Sayer's departure to "think about the structure" of Clear Channel Outdoor.
Eccleshare said he "imagines" he will appoint chief executives for the UK, Ireland and the Middle East but is "considering the right structure" and in the short term the Irish and Middle Eastern operations will report directly to him.
He added that he "doesn't feel in any great rush" because Sayer is leaving the business in a robust state and has put together a solid management team.
Last week (28 September), Independent News & Media's banks and bondholders gave their consent to the sale of INM Outdoor, IN&M's South African outdoor business.
Sayer joined Clear Channel Outdoor UK from South Africa where he led Clear Channel's African operation and his initial six month secondment led to four years.
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