Baran joined the company earlier this week, and within the role has responsibility for redefining a key part of Clear Channel's market proposition.
The role was created as part of the new initiative, code-named Project X. Baran is currently in the process of recruiting the team who will be working with him. A spokesman for Clear Channel declined to comment further on the project.
He was appointed head of future and digital advertising in 2008, with responsibility for all commercial revenues across Channel4.com, 4oD and external syndication partnerships.
He managed online ad sales across Channel 4's properties and played a key role in the development and commercialisation of 4oD.
Baran said: "It's an exciting time to join such a forward thinking organisation. There is so much potential for growth in out-of-home media and Clear Channel has a proven track record in innovation. This new role gives me a great opportunity to be part of a landmark media moment."
Chris Pelekanou, Clear Channel UK's commercial director, who Baran will report to, said: "Errol is a fantastic addition to the team. He is commercially focused and has a great track record of driving large-scale innovation projects.
"We look forward to working with Errol to deliver what we believe will be the defining proposition in UK out-of-home media this year."
Clear Channel will announce details about the new initiative later this year.