CFO Tim Millage will leave Lee Enterprises for a pastoral role, effective February 28, 2026, after nearly ten years.
Quiver AI Summary
Lee Enterprises, Inc. announced that Chief Financial Officer Tim Millage will leave the company early next year to take on a role as an Executive Pastor at Coram Deo Bible Church in Davenport, Iowa. Millage has served in financial leadership positions for nearly a decade and expressed his gratitude for his time at Lee, praising the company's direction and confidence in its future growth strategy. CEO Kevin Mowbray acknowledged Millage's contributions and confirmed the company's support for his decision. Millage's resignation will be effective February 28, 2026, but he will assist the company in a consulting capacity until May 31, 2026. Lee Enterprises is a significant provider of local news and information, operating numerous newspapers and digital products across the U.S.
Potential Positives
- Tim Millage's departure is framed positively, reflecting his commitment to a new role that aligns with his personal values, which may enhance the company’s public image.
- The confidence expressed by Millage in the company’s direction and future potential reinforces investor trust and optimism about Lee Enterprises' growth strategy.
- The successful execution of the Three Pillar Digital Growth Strategy is highlighted, indicating progress in transforming revenue composition and increasing digital margins, positioning the company for long-term success.
- Kevin Mowbray’s acknowledgment of Millage’s leadership and contributions strengthens the narrative of a cohesive and capable executive team, which may reassure stakeholders during the transition period.
Potential Negatives
- The departure of the CFO may create uncertainty regarding the company's financial leadership and stability during the transition period.
- Tim Millage's resignation to pursue a non-corporate vocation could be perceived as a lack of confidence in the company's direction or future prospects.
FAQ
Who is the departing Chief Financial Officer of Lee Enterprises?
The departing Chief Financial Officer is Tim Millage, who will leave the company early next year.
What will Tim Millage do after leaving Lee Enterprises?
After his departure, Tim Millage will become an Executive Pastor at Coram Deo Bible Church in Davenport, Iowa.
When is Tim Millage's resignation effective?
Tim Millage's resignation will become effective on February 28, 2026.
What is Lee Enterprises known for?
Lee Enterprises is a major subscription and advertising platform providing local news and information through daily newspapers and digital products.
Is Lee Enterprises still looking for a new CFO?
Yes, Lee Enterprises has initiated a search for a new Chief Financial Officer following Tim Millage's departure.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$LEE Hedge Fund Activity
We have seen 12 institutional investors add shares of $LEE stock to their portfolio, and 15 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- PRAETORIAN PR LLC removed 125,258 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $681,403
- CANNELL CAPITAL LLC removed 20,157 shares (-8.9%) from their portfolio in Q3 2025, for an estimated $109,654
- NORTHERN TRUST CORP removed 13,745 shares (-57.7%) from their portfolio in Q3 2025, for an estimated $74,772
- JANE STREET GROUP, LLC removed 13,419 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $72,999
- DIMENSIONAL FUND ADVISORS LP removed 13,402 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $85,772
- WITTENBERG INVESTMENT MANAGEMENT, INC. added 12,214 shares (+14.4%) to their portfolio in Q3 2025, for an estimated $66,444
- MURPHY POHLAD ASSET MANAGEMENT LLC added 12,200 shares (+inf%) to their portfolio in Q3 2025, for an estimated $66,368
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
DAVENPORT, Iowa, Nov. 21, 2025 (GLOBE NEWSWIRE) -- Lee Enterprises, Incorporated (NASDAQ: LEE) today announced Chief Financial Officer, Tim Millage, will depart the company early next year to answer a calling outside of corporate life. After nearly a decade of leading financial organizations in public companies, he will become an Executive Pastor at Coram Deo Bible Church in Davenport, Iowa.
“Serving Lee has been one of the greatest privileges of my professional life. I’m leaving to put my full time and full heart into serving the church,” said Millage. “I have tremendous respect for Kevin and the leadership team, and I have full confidence in the company’s direction and its bright future. The execution of the Three Pillar Digital Growth Strategy has already shown remarkable success and is transforming the composition of revenue, growing digital margins, and positioning the company for sustainable long-term value creation. I leave knowing the foundation is strong and the best is yet to come.”
Kevin Mowbray, Lee’s President and Chief Executive Officer, said, “We are deeply grateful to Tim for his leadership, integrity, and dedication. His financial acumen and stewardship have been instrumental in advancing the company. While we will miss him as a valued team member, we fully support his decision to follow his calling and wish him every success in this new chapter.”
The company has initiated a search for a new Chief Financial Officer. Millage’s resignation will become effective February 28, 2026, and he has agreed to provide consulting services to the Company through May 31, 2026.
ABOUT LEE
Lee Enterprises is a major subscription and advertising platform and a leading provider of local news and information with daily newspapers, rapidly growing digital products and nearly 350 weekly and specialty publications serving 72 markets in 25 states. Our core commitment is to provide valuable, intensely local news and information to the communities we serve. Our markets include St. Louis, MO; Buffalo, NY; Omaha, NE; Richmond, VA; Lincoln, NE; Madison, WI; Davenport, IA; and Tucson, AZ. Lee Common Stock is traded on the NASDAQ under the symbol LEE. For more information about Lee, please visit www.lee.net .
Contact:
[email protected]
(563) 383-2100
