Tegna Inc. has announced the appointment of Michael Steib as President, CEO, and Director, succeeding David Lougee, who will retire from his roles and become a senior advisor as of August 12, 2024. Steib, currently the CEO of Artsy, brings a wealth of experience from his time at XO Group and executive positions at NBCUniversal and Google. Tegna's Chairman of the Board, Howard Elias, expressed confidence in Steib, highlighting his technology and digital savvy, passion for local journalism, and track record of building businesses and driving business model transformation.
In addition to the leadership change, Tegna's board has appointed two new independent directors, Catherine Dunleavy and Denmark West. Dunleavy, a former president of travel lifestyle brand Away, brings extensive media experience from her time at Nike and NBCUniversal. West, who heads market intelligence and strategic engagements at X, the moonshot factory, a division of Alphabet, has significant experience in the technology industry and public company board experience.
Tegna, a media company with 64 television stations in 51 U.S. markets, also owns leading multicast networks True Crime Network and Quest. It offers innovative solutions to help businesses reach consumers across television, digital, and over-the-top platforms, including Premion, its OTT advertising service.
These changes in leadership and the addition of new directors come at a time of unprecedented change in the industry, and Tegna is positioning itself for a bright future in local news and community engagement. Today the company's shares have moved 1.4% to a price of $13.44. For more information, read the company's full 8-K submission here.
