Tribune Chief Executive Randy Michaels will resign and leave the company before the end of the week, reports the Los Angeles Times, whose parent company is Tribune.
Michaels, who was the subject of a New York Times article about the sexist and frat-house atmosphere allowed to flourish under his command, will be replaced by a four-member office of the president, the story says. It will be comprised of Eddy Hartenstein, chief executive and publisher of the Los Angeles Times Media Group; Tony Hunter, president and publisher of the Chicago Tribune Media Group; Nils Larsen, Tribune’s chief investment officer; and Don Liebentritt, chief restructuring officer.
A spokesman for Tribune wouldn’t comment on Michaels’ planned departure or the succession plan, the story notes. Michaels decided it was best for the company for him to depart because "the turmoil was distracting employees, threatening to hurt business and complicating the company’s efforts to emerge from a contentious bankruptcy process," the story says.