Tribune Publishing’s new chairman Michael Ferro is continuing to shake things up, as Terry Jimenez has been named the company’s new executive vice president and CFO.
He will begin on April 4, replacing current CFO Sandra J. Martin, who will depart the Company on April 15.
Jimenez will receive an annual base salary of $420,000. He will also receive an annual cash bonus, with a target of 75 percent of base salary.
Jimenez was a Partner for IBM’s Global Business Services and has made stops at Wrapports, LLC, Newsday Media Group and Tribune Media Company. Jimenez’s employment agreement also contains certain restrictive covenants for Tribune Publishing’s benefit. He also is required to maintain the confidentiality of Tribune Publishing confidential information.
Earlier this month the Department of Justice has filed an antitrust lawsuit to block Tribune Publishing’s acquisition of two California newspapers, including the Orange County Register.
Tribune also recently gave top editors, like the Los Angeles Times’ Davan Maharaj, dual responsibility as publishers, acquired LA.com, and implemented a plan to give subscribers wide, free digital access.