The chief executive of Tribune Publishing has been ousted in a shakeup among the company’s top ranks. The New York Times reports that Jack Griffin, who took over the job in 2014, is out.
Griffin, who helped oversee the spinoff of Tribune Publishing from Tribune Media, will be replaced by Justin C. Dearborn, who is the former CEO of Merge Healthcare.
The move comes less than three weeks after Chicago entrepreneur Michael Ferro, the majority owner of The Chicago Sun-Times, acquired a $44 million stake in Tribune Publishing in early February. The Times notes that Dearborn is a close associate of Ferro.
“Griffin withstood a string of controversies and criticisms and a decline in the company’s share price to about $7 from nearly $25,” The Times notes. “The one thing he could not survive was a new investor who initially seemed like a potential savior.”
Tribune Publishing’s holdings include The Chicago Tribune, The Los Angeles Times, The Hartford Courant and other papers. The moves were announced Tuesday in a filing with the Securities and Exchange Commission.