In an anti-climatic decision, the Tribune Company board of directors got Randy Michaels to step down from his post as CEO.
The clock was ticking on Michaels’ tenure after allegations into his personal conduct and management style, leading to questions whether he was the right person to lead the company from bankruptcy.
Replacing Michaels is a four-person panel comprised of Tony Hunter and Eddy Hartenstein, publishers of the Chicago Tribune and Los Angeles Times, respectively; Nils Larsen, the Tribune chief investment officer; and Don Liebentritt, chief restructing officer.
Michaels joined Tribune in 2007, shortly after longtime colleague Sam Zell took over the media company in a highly leveraged deal.
It remains to be seen if the Michaels dismissal will have an impact on Tribune-owned WPIX.