Former CFO Chandler Bigelow, who’s now Chief Strategies & Operations Officer, will hold the financial fort until Tribune Media finds a replacement for Steven Berns. He’s leaving on August 11 to become CFO at what Tribune refers to as “another public company.”
The announcement adds that Berns “will remain available to Tribune Media to facilitate a smooth transition of duties, and his resignation does not reflect any dispute or disagreement with the company.”
He took the Tribune gig two years ago, moving from Revlon. Prior to that he was CFO at Tradeweb and MDC Partners, and earlier he was Treasurer at The Interpublic Group.
“We thank Steven for his contributions to the company over the past two years, including his management of the spin-off of Tribune Publishing and our listing on the New York Stock Exchange, and we wish him well in his new position,” CEO Peter Liguori says. “We are fortunate to have an executive of Chandler’s caliber, with his many years of experience at Tribune Media, as interim CFO.”
Tribune Media shares are down 35.5% so far in 2015, and this morning touched a 52-week low of $44.52.