Tribune Publishing CEO Tim Knight has been replaced by
Terry Jimenez, Tribune Publishing’s chief financial officer. Knight will stay
with the company until the end of February.
Jimenez will assume Knight’s seat on the board,
the company said in a news release.
The move comes amid other changes at the
company. In November, New York-based hedge fund Alden Global Capital became the
biggest shareholder in Tribune Publishing. Tribune Publishing then added two
Alden representatives to the company’s board, making it eight members. Alden is
barred from boosting its stake in the company to more than 33 percent until the
end of June.
Tribune Publishing also announced that Philip
Franklin, chairman of the Tribune board's audit committee, has been appointed
non-executive chairman of the board, succeeding David Dreier, who remains on
the board.
Mike Lavey, current controller and chief
accounting officer, has been named interim chief financial officer.
Jimenez has been executive vice president/chief
financial officer of Tribune Publishing since 2016. Before that, Jimenez was a
partner for IBM's Global Business Services since 2012. Previous to that, he was
president of Newsday Media Group, a subsidiary of Cablevision Systems
Corporation.
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