In the first major move by the new owner of the Los Angeles Times, the paper has named a new executive editor.

“Norman Pearlstine, who has spent 50 years in journalism helping shape some of the nation’s most prominent publications — including Time Inc. magazines, Bloomberg News, Forbes and The Wall Street Journal — on Monday was named executive editor of the Los Angeles Times,” the paper reported.

The move comes after Dr. Patrick Soon-Shiong completed his $500 million purchase of The Times, San Diego Union-Tribune, Spanish-language Hoy and several community papers from Chicago newspaper company Tronc.

“During the last two months, Pearlstine, 75, has served as an advisor to Soon-Shiong, charged with creating a transition plan. He will now help execute that plan,” The Times reports.

Soon Shiong is quoted in the report saying of Pearlstine: “Not only does he have amazing experience with the full knowledge of how a newsroom runs — but he’s amazingly modern and forward-looking. There’s no agenda, other than to make this the best journalistic institution. We’re lucky to be able to capture him.”