Tribune's board appoints executive council after CEO resigns

By Jennifer Lanning Drey

Savannah, Ga., Oct. 22 - Tribune Co. said its board of directors has appointed an executive council that will assume the responsibilities of the office of the chief executive and president as well as oversee the company's publishing and broadcast operations.

Randy Michaels has resigned as the company's CEO, effective immediately, according to a Friday news release.

The executive council is comprised of Tribune's chief restructuring officer; its chief investment officer; the president, publisher and CEO of Chicago Tribune Co. and the publisher and CEO of Los Angeles Times Communications, LLC.

The executive council will report directly to Tribune's board of directors.

"These appointments are designed to ensure a smooth, seamless transition of management responsibilities to a group of experienced executives who have a strong understanding of the company's media business," Sam Zell, Tribune's chairman of the board, said in the release.

Tribune, a Chicago-based media company, filed for bankruptcy on Dec. 8, 2008. Its Chapter 11 case number is 08-13141.

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