Tribune CEO Michaels Fate To Be Determined As Early As Today

By Chuck Sudo in News on Oct 19, 2010 2:00PM

On the eve the publication of that damning New York Times profile into the corporate culture at Tribune Co. under Sam Zell, CEO Randy MIchaels, the man at the focus of the exposé, sent out an email to Tribune employees urging them to "ignore the noise" that would be generated from the piece that painted the actions of executives brought in after Zell's debt-heavy leveraged buyout as juvenile, at best.

Rumblings are the noise may be too much for Michaels to ignore himself. Michaels' future with the company will be discussed by Tribune Co.'s Board of Directors today, with both the Tribune and New York Times citing anonymous sources as saying that Michaels may tender his resignation from the company to the Board directly.

The reports state that the Tribune Board has lost faith in Michaels in the wake of the NYT piece and the resignation of chief innovation officer Lee Abrams for sending out an email that many Tribune employees found offensive after the exposé's publication. The Board, according to reports, feels that a change at the top is necessary to move the company forward and expedite its emergence from bankruptcy.