Unexpectedly, Michael Ferro announced his retirement on Monday in Tronc, the Chicago Tribune Company and nine other media outlets.
Executive Director Justin Dearborn has been nominated for a successful media company in Chicago Iron.
“I want to thank everyone who has worked hard to create a great journalism for the last two years, to strengthen the company’s financial position and to offer shareholder value,” Ferro said in his statement. Said. “I am convinced that working under Ben Justin’s board of directors and board members and management funds will continue to value investors as digital transformation projects take place.”
The surprise statement came a month after Tronc agreed to sell the Los Angeles Times and San Diego Union-Tribune investor Patrick Soon-Shiong for $ 500 million.
Michael compared the company’s market value
Chicago’s technical demon has assumed the presidency of Wrap Gates, a former parent company of the Sun-Times five years later, led by former Tribune Publishing (later called tronc).
Here is the text of the troncend press release:
Justin Dearborn was elected Chairman of the Board of Tronc, Inc.
Michael Ferro, local host L.A. I was retired after seeing it with Time
CHICAGO, March 19, 2018 (GLOBE NEWSWIRE) – TronC, Inc.:. Justin Dearborn, chairman of the board of directors, was elected president of Troncin’s board of directors. Michael Ferro, the company was pulled out of the government as it prepares Los Angeles to close $ 500 million in local property.
During the past few weeks, Demir has argued that he wants to leave his seat by closing the Times Store with his co-operative and management cadre.
“Michael completed the establishment of the company’s board for two years,” said Dearborn, who will continue to work as CEO. “Prior to his presidency in 2016, Michael compared the company’s market value to $ 200 million to $ 41 million in cash and $ 500 million in debt and pension liabilities, with more than 300% more than a 400% increase in cash money in 2017 and a lower borrower, as well as a $ 500 million cash and US transaction reflected by the California newsgroup.The $ 90 million in the standard retirement plan created a stronger economic situation for a decade, helping Michael to retain support as an investor and we look forward to the best retirement. ”
I thank all those who have worked hard in the past two years, to create a larger journalism, to strengthen the company’s financial position and to offer value to its shareholders, “said Michael Ferro, I am sure Tronc Justin and other management and staffing teams are implementing digital conversion schemes leading to investor value. ”
Last month, Tronc announced that it signed an agreement to sell various California news groups at Nant Capital, LLC, one of the Los Angeles Times, The San Diego Union-Tribune and California pharmacists. Patrick Soon-Shiong. As previously reported, Troncay is expected to close at the end of the first quarter or the second quarter in 2018.
Dearborn was appointed General Manager of Tronc as General Manager of Merge Healthcare for continued growth for a period of time in February 2016, until IBM purchased a million dollars in October 2015.