Tegna CEO Dave Lougee has told employees he’s leaving.

Here’s his message to the staff:

Dear Colleagues,

Consistent with my belief that leadership includes knowing when it’s time to pass the baton, last year I shared with Howard and the Board my desire to retire as President and CEO.

My decision follows the great progress TEGNA has made over the last seven years.  Through conversations over many months with the Board, and over the course of the Board’s succession planning process, we have determined that Mike Steib, who has deep and broad experience in areas highly relevant to our business, is the right person to serve as TEGNA’s next President and CEO. 

As you will come to know, Mike is a proven media executive and an extraordinary leader. Of particular importance to all of us is his passion for local journalism and the vital role we play in the communities where we operate. 

After I step down as President and CEO on August 12, I will continue with TEGNA as Senior Advisor and look forward to helping Mike in any way that I can.

I want to thank you for all your great work over our many years working together. Leading this great organization has been an honor and a privilege, and the highlight of my career.

As we welcome Mike, I’m as optimistic as ever in the future of TEGNA. 

With thanks, DAVE