DAVENPORT, Iowa (June 15, 2018) – Ronald A. Mayo, Vice President, Chief Financial Officer and Treasurer of Lee Enterprises, Incorporated (NYSE: LEE), has announced he is resigning and returning to Denver, Colorado, for family considerations.
Mr. Mayo, who has been on medical leave since April, said: “Since joining Lee in 2015, I have been commuting between Davenport and Denver. While I am fully recovered from my medical issue, the recent events made me realize the importance of living and working in the same city as my family. I will dearly miss my colleagues at Lee, and I appreciate the opportunity to have worked with an exceptional management team at an industry-leading media company.”
Kevin Mowbray, Lee president and chief executive officer, said: “Ron has been a key member of our executive team, overseeing finance, I.T., production and investor relations. We are grateful for his leadership and his many contributions to our success. We will miss him and wish him our very best.”
In Mr. Mayo’s absence, Tim Millage, Lee corporate controller, has been appointed to serve as the company’s acting principal financial and accounting officer.
In addition to his three years as CFO at Lee, Mr. Mayo’s career includes 19 years with MediaNews Group, where he served 12 years as vice president and chief financial officer. He also served as chief financial officer of Halifax Media Group. Before entering the media industry, he was an audit senior manager at Ernst & Young in Houston, Texas. He is a certified public accountant and a graduate of Texas A&M University. He and his wife, Karen, have two adult children.
Lee Enterprises is a leading provider of local news and information, and a major platform for advertising, with daily newspapers, rapidly growing digital products and nearly 300 weekly and specialty publications serving 49 markets in 20 states. Year to date, Lee's newspapers have an average circulation of 0.8 million daily and 1.1 million Sunday and are estimated to reach almost three million readers in print alone. Lee's markets include St. Louis, MO; Lincoln, NE; Madison, WI; Davenport, IA; Billings, MT; Bloomington, IL; and Tucson, AZ. Lee Common Stock is traded on the New York Stock Exchange under the symbol LEE. For more information about Lee, please visit lee.net.
Corporate Communications Manager