No Sign Of A Resignation From Randy Michaels
Report: Tribune Board To Ask Randy Michaels To Step Down
October 19, 2010 at 12:27 PM (PT)
THE CHICAGO TRIBUNE reports TRIBUNE CEO RANDY MICHAELS said earlier TODAY "he did not resign from the company despite expectations that he might step down from his post or be asked to leave it at a board meeting."
"I work here TODAY and I'm still working," he said on his way to lunch with COO GERRY SPECTOR.
In a statement following TODAY's board meeting, THE TRIBUNE wrote, "TRIBUNE's board of directors is focused on filing the company's plan of reorganization this FRIDAY and has no comment on any other issue."
Speculation Of A Resignation
The NEW YORK TIMES reported earlier TODAY that the TRIBUNE CO. Board of Directors is "expected to ask" for the resignation of CEO RANDY MICHAELS TODAY (10/19).
The TIMES' DAVID CARR and TIM ARANGO cite a person "directly involved in the matter" who told them that the board "had lost confidence in the ability of Mr. MICHAELS to lead the troubled company."
MICHAELS, the former CLEAR CHANNEL and JACOR executive, became CEO last DECEMBER after two years as EVP.
His tenure at TRIBUNE was rocked by a recent TIMES article by CARR chronicling what the reporter characterized as a "frat house" atmosphere at the company and the departure of Chief Innovation Officer LEE ABRAMS after a memo to the company's staff that included a video some felt was inappropriate.