Thursday, June 12, 2008
From: Smith, Scott C.
Sent: Thursday, June 12, 2008 3:01 PM
Subject: My Decision to Retire
I want to let you know that I will retire as publisher of the Chicago Tribune and president of Tribune Publishing once a successor for my Chicago Tribune CEO role is selected. Sam, Randy and I agree it's time for new leadership to lead the next wave of market driven change in our business.
When the new Tribune era began last December, I committed to focus on my Chicago Tribune duties and facilitate the best possible transition for the company overall. The new era has brought fresh perspectives that I sought to blend effectively with established Tribune strengths, starting with the very talented people steadfastly dedicated to our success. While views and styles clearly differ, we all share the same fundamental goals. As Sam put it, we need to go for greatness built on relevance, revenue and respect, plus generate enough cash flow to pay our debt and create equity value. As tough as market conditions are, I remain confident you will do all you can to best achieve these objectives.
I am proud of all we have accomplished over my 30 years with this extraordinary enterprise. Together we created a lot of value for our customers, communities, owners and each other, navigating major changes in markets, media and the news each day along the way. It has been a profound privilege and pleasure to serve as publisher of the Tribune for the final portion of my career. We expanded our leading position in Chicagoland and among major metropolitan papers in many important ways. Looking forward, you are well prepared to advance the Chicago Tribune and our related media here for the benefit of all we serve.
Thanks for the great honor of serving with you. I will always be a fan and friend.
SOURCE: Jim Romenesko