Tribune Publishing Company announced a leadership transition plan that will continue a strategic effort to streamline the company's operations and position it for the future. The changes became effective January 31, 2020. Terry Jimenez, the company's Executive Vice President and Chief Financial Officer, has assumed the role of President and Chief Executive Officer and joined the Board, succeeding Timothy P. Knight, who has stepped down from the Board and will leave the company at the end of February.

Philip G. Franklin, Chairman of the Tribune Board's Audit Committee, has been appointed Non-Executive Chairman of the Board, succeeding David Dreier, who stepped down as Non-Executive Chairman but will remain on the Board. Mike Lavey, current Controller and Chief Accounting Officer, has been named interim Chief Financial Officer. Terry Jimenez has been Executive Vice President/Chief Financial Officer of Tribune Publishing Company since 2016.

He had oversight of finance, accounting, financial reporting, planning, treasury, investor relations, product development, analytics, information technology, manufacturing/distribution and the New York Daily News for the media company. Prior to joining the Company, Mr. Jimenez was a Partner for IBM's Global Business Services since 2012. From September 2009 through February 2012, he was President of Newsday Media Group, a subsidiary of Cablevision Systems Corporation.

From 2008 to 2009, Mr. Jimenez served as Chief Operating Officer/Chief Financial Officer of Newsday, LLC and Publisher of amNewYork, a free paper distributed in New York City. From 2005 to 2008, he was Vice President Finance/Chief Financial Officer of Newsday Inc. (as a subsidiary of Tribune Company) and from 2003 to 2005, he served as Controller for the Chicago Tribune Group. Timothy P. Knight has been Chief Executive Officer, President and a member of the Board of Tribune Publishing Company since January 2019.

He joined the company in February 2017. Prior to his current role, Knight served as President of the Company where he was responsible for all of the Company's local market operations. Knight previously served as the President of Advance Ohio and directed the strategy, sales, marketing and content of cleveland.com and as CEO of Wrapports LLC.

Prior to that Knight served as President and CEO of New York-based Newsday Media Group and Publisher of Newsday, where he led the process that resulted in the sale of Newsday Media Group by Tribune Company to Cablevision Systems Corporation for $650 million in 2008. He has served in senior leadership positions at Tribune Company, Chicago Tribune and Classified Ventures. Knight started his career as a corporate associate at Skadden, Arps, Slate, Meagher & Flom in Chicago and London.

Philip G. Franklin has served as a director of Tribune Publishing Co. since August 2014. He retired from Littelfuse Inc., in April 2016 after 17 years as its Chief Financial Officer.

Littelfuse, a global leader in circuit protection, increased its market capitalization from $350 million to $3.5 billion during Mr. Franklin's tenure. Prior to that, he was Chief Financial Officer of OmniQuip International, a private equity sponsored roll up in the construction equipment industry, which he helped take public. Mr. Franklin also served as Chief Financial Officer for Monarch Marking Systems, a subsidiary of Pitney Bowes, and Hill Refrigeration, a private company controlled by investor Sam Zell.

Earlier in his career, he worked in a variety of finance and general management positions at FMC Corporation. David Dreier has served as a director of Tribune Publishing Co. since June 2016.

As Chairman of the Tribune Board, he was inspired by the tragic deaths of five Tribune employees to establish the Fallen Journalists Memorial Foundation. Mike Lavey has served as Controller and Chief Accounting Officer since May 2018 and previously served as the Company's Senior Vice President, Corporate Controller since May 2015. Previously, Mr. Lavey was vice president and corporate controller of A. H. Belo Corporation, a media company, from January 2010 to May 2015, and as controller of the Dallas Morning News in 2009.

Earlier in his career, Mr. Lavey held financial management positions with, or served as a financial consultant for, imc2, Alliance Data Systems Corporation, Lighting Science Group Corporation, MetroPCS Inc., Excel Communications Inc., BancTec Inc. and NAC Inc.Mr. Lavey began his career in the audit function at Arthur Andersen & Co. in 1979.