Tribune Publishing announced leadership changes today. As a result, Terry Jimenez is now the publisher’s president and CEO.
The shifts in management went into effect on Friday, the company announced. Jimenez, previously Tribune’s executive vice president and CFO, will replace Timothy Knight, who has been at the publisher for nearly three years. Knight inherited the CEO responsibilities after Justin Dearborn stepped away from the role at the beginning of last year. Knight will stay with Tribune Publishing through the end of February.
Jimenez could not be reached for comment, and Knight didn’t immediately return requests for comment.
It’s been a rocky few years for Tribune Publishing, which saw the departure of former chairman and majority shareholder Michael Ferro in March 2018 after the company agreed to sell the Los Angeles Times, San Diego Union-Tribune and other California-based publications in a $500 million deal. Ferro stepped down after he was accused of unwanted advances, according to a report from Fortune. In November, Alden Global Capital acquired a majority stake of the company.
Now, Jimenez will join the company’s board while Philip G. Franklin, current chairman of the Tribune Board’s Audit Committee, was named non-executive chairman of the board, replacing David Dreier. Although Dreier stepped down from that particular role, he will stay on the board.
The company named Mike Lavey, current controller and chief accounting officer, interim CFO.
“Tribune Publishing is a leader in each of our eight markets, providing quality, locally focused journalism,” Dreier said in a provided statement. “I am confident this will continue under Terry and Phil’s leadership. We have a shared belief that solid journalism enhances shareholder value. That will continue to be our driving principle.”
Tribune Publishing’s extensive portfolio includes the Chicago Tribune, the New York Daily News and the Baltimore Sun.