Tribune Publishing CEO Tim Knight has been replaced by Terry Jimenez, Tribune Publishing’s chief financial officer.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.