Tribune Company just announced that its board of directors has named Randy Michaels CEO, replacing the controversial Sam Zell. Michaels has also been elected to the board. Sam Zell remains Tribune’s Chair. 

According to the “official” Tribune take on the change, Zell recommended the leadership transition to the board. “This appointment reflects Randy’s increasing responsibilities,” he said in the announcement. “During the last two years, we’ve made substantial progress transforming Tribune from a collection of newspapers and television stations to a fast-paced, innovative media company that is using its scale and brands to compete more effectively than ever before. “At this point in Tribune’s evolution, no one is better suited to lead the company forward. Randy has a unique combination of real-time creativity, expertise and passion, and I completely trust his judgment and his leadership.”

Michaels was appointed COO in May, 2008, and in 2007 had been EVP and CEO of the company’s broadcast and interactive divisions. 

“I am grateful to Sam and the members of the board for this vote of confidence and the opportunity,” said Michaels. “I look forward to continuing to work closely with Sam and the rest of the board – this is a great company with a great future.”

The now-bankrupt Tribune Company was purchased by Zell, and taken private, in 2007 for $8.2 billion. AIM Group and others conjectured back in August that Zell might not remain with the firm. This might well be the first step towards his leave-taking.