Robert Decherd to Retire as CEO in September; Jim Moroney to Succeed Him At A.H. Belo
A. H. Belo Corporation (NYSE: AHC) announced today that Robert W. Decherd, its Chief Executive Officer since the Company's spin-off from Belo Corp. in February 2008, will retire as CEO in September and be succeeded by James M. (Jim) Moroney III. Moroney is currently executive vice president of the Company and publisher and CEO of The Dallas Morning News.
Decherd, 62, will become vice chairman of the Board of Directors and continue to serve as a member of the Board. Moroney, 56, will maintain his role as publisher and CEO of The Morning News. Moroney will be elected to the Board of Directors at its regular meeting in September.
John P. Puerner, A. H. Belo's Lead Director, said, "This leadership transition has been a focus for the Board and Robert over the past 12 months and we are very pleased that an executive of Jim's caliber and experience is going to lead the Company as it continues along the path to a digital operating platform. Since its spin-off from Belo Corp., A. H. Belo has made great strides in a very difficult industry environment. We are confident that under Jim's direction, we can seize upon opportunities to diversify revenues while maintaining the Company's journalistic mission."
In addition to serving as A. H. Belo's CEO for the past 5 1/2 years, Decherd was Chief Executive Officer of Belo Corp. from 1987 until 2008. He will complete 40 years of employment with the two companies in September. During Decherd's tenure as CEO of Belo Corp., the company increased four-fold in size and Belo played a leading role in public policy matters related to the newspaper and network-affiliated television businesses. Belo's newspaper and television news operations received nine Pulitzer Prizes and more DuPont-Columbia and Peabody awards for journalistic excellence than any owner of local television stations from 1980 to 2013.
Moroney has been publisher and CEO of The Morning News since June 2001 and has led the newspaper during a period of journalistic achievement and dramatic change. The Morning News has won three Pulitzer Prizes since 2001. Moroney has been active in a wide range of newspaper industry matters and completed a term as chairman of the Newspaper Association of America in April. Prior to becoming CEO of The Morning News, Moroney held numerous roles in Belo's senior management, including president of its Television Group and president of Belo Interactive.
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