Postmedia Network Canada Corp. announced Thursday that Paul Godfrey is stepping down as CEO and will be succeeded by president and chief operating officer Andrew MacLeod.
Godfrey, who has been Postmedia’s CEO since the company was founded in 2010, will stay on as executive chairman.
MacLeod joined Postmedia in 2014 as chief commercial officer and was named chief operating officer in 2016. He became president in October 2017 and continues to hold that title as well as CEO.
OBJ360 (Sponsored)
Be a Part of OBJ’s City Building 2024
Let there be no doubt that Ottawa is undergoing a building boom that is shaping the future of the city as we speak. The cranes dotting Ottawa’s skyline are saluting
If you build it, they will stay: Ending Ottawa’s biotech brain drain
The University of Ottawa’s Advanced Medical Research Centre will help stop the brain drain of talent.
The announcements came as the owner of the National Post and other Canadian newspapers announced a $1.4 million net loss for the quarter ended. Nov. 30.
Revenue for the Toronto-based publishing group fell to $171.3 million from just under $189 million a year earlier, when Postmedia reported a profit of $5.8 million with the assistance from gains on asset sales.
Financial filings released Thursday show that last month’s sale of the Ottawa Citizen and Ottawa Sun building on Baxter Road, which closed following the end of the quarter, brought in $21 million in gross proceeds.