Tribune Company announced today that its board of directors has named Randy Michaels Chief Executive Officer; Michaels has also been elected to the board. Sam Zell remains Tribune’s Chairman and will continue to provide the management team with strategic oversight and vision.
Zell recommended the leadership transition to the board, saying, “This appointment reflects Randy’s increasing responsibilities. During the last two years, we’ve made substantial progress transforming Tribune from a collection of newspapers and television stations to a fast-paced, innovative media company that is using its scale and brands to compete more effectively than ever before.”
“At this point in Tribune’s evolution, no one is better suited to lead the company forward. Randy has a unique combination of real-time creativity, expertise and passion, and I completely trust his judgment and his leadership.”
Michaels was appointed Chief Operating Officer in May, 2008, and has been part of the company’s senior executive team since Tribune’s going-private transaction in December 2007. Prior to becoming COO, Michaels served as executive vice president and chief executive officer of Tribune’s interactive and broadcast divisions.
“I am grateful to Sam and the members of the board for this vote of confidence and the opportunity,” said Michaels. “I look forward to continuing to work closely with Sam and the rest of the board — this is a great company with a great future.”
“There is a lot of work yet to do,” he continued, “but we have tremendously talented people and world-class brands in print, on air and online. Our businesses are profitable and we’re gaining market-share and momentum in a tough environment. The entire management team is focused on the long-term and keeping Tribune at the cutting-edge of creativity and innovation, which will translate into success on the bottom-line.”