US economy

Gannett CFO to step down at end of 1Q; board launches search for replacement

Gannett Co. said Monday that Alison “Ali” Engel is stepping down as chief financial officer of the media and marketing solutions company at the end of the first quarter to pursue other opportunities.

Gannett’s board of directors has begun a process to identify someone to fill the role. Mark Maring, currently treasurer of Gannett, is expected to lead the company’s finance function after Engel’s departure until a new CFO is appointed, Gannett said.

Gannett, which was formed in November from the combination of New Media Investment Group Inc. and Gannett Co., operates USA TODAY and 260 local media properties in the United States. It also operates digital marketing services companies ReachLocal, WordStream, and ThriveHive, and U.K. media company Newsquest. Prior to the close of the transaction forming the new company, New Media operated its media properties as GateHouse Media. Maring served as treasurer of GateHouse Media for 10 years prior to the merger.

When New Media and Gannett announced the transaction and key executives, it said it expected Engel, who had served as Gannett’s chief financial officer prior to the deal, to continue as CFO of the combined company.

“On behalf of our board and leadership team, we thank Ali for her dedication and invaluable contributions over the past five years,” Paul Bascobert, chief executive of the company’s operating subsidiary, Gannett Media Corp., said in a media release.  “She has been a tireless leader and advocate for our mission and helped us to successfully navigate both a proxy fight and merger this past year. We wish her all the best as she considers her next adventure.” 

Engel joined Gannett in 2015 and was named CFO in June 2015. She formerly was chief financial officer and treasurer of A. H. Belo Corp., and served that company following its spin-off in 2008 from Belo Corp.

“I greatly enjoyed my time at Gannett and wish the company nothing but success in the future,” Engel said in a media release.


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