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Lee Enterprises Inc (LEE)
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Lee Enterprises Announces Departure of CFO Tim Millage

Last updated: November 21, 2025
Taurigo

1. Executive Transition Signals New Chapter for the Company

In a significant shift within its leadership team, Lee Enterprises, Inc. (NASDAQ: LEE) has announced the resignation of Chief Financial Officer Tim Millage, effective February 28, 2026. Millage, who has played a pivotal role in the company’s financial strategy for nearly a decade, is set to embark on a new journey as an Executive Pastor at Coram Deo Bible Church in Davenport, Iowa.

2. A Heartfelt Departure

Tim Millage expressed his sentiments regarding his departure, stating, “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.” His decision underscores a personal calling that has taken precedence over his corporate career. Millage reassured stakeholders of his faith in the company's future, highlighting the ongoing success of its Three Pillar Digital Growth Strategy. He noted that this initiative is transforming revenue streams, enhancing digital margins, and reinforcing the company’s long-term value creation.

3. Leadership Praise

Kevin Mowbray, President and Chief Executive Officer of Lee Enterprises, praised Millage’s contributions to the company. “We are deeply grateful to Tim for his leadership, integrity, and dedication. His financial acumen and stewardship have been instrumental in advancing the company,” Mowbray stated. The CEO acknowledged the vacuum that Millage's departure will create, yet reiterated the company's commitment to supporting him in his new endeavor.

4. Search for New Leadership

In light of Millage’s resignation, Lee Enterprises has initiated a search for a new Chief Financial Officer. Millage has agreed to provide consulting services to facilitate a smooth transition until May 31, 2026, ensuring that the financial operations continue to run efficiently while a successor is identified.

5. About Lee Enterprises

Lee Enterprises is a prominent subscription and advertising platform known for its robust local news and information services. The company operates daily newspapers, a rapidly expanding suite of digital products, and nearly 350 weekly and specialty publications across 72 markets in 25 states. Lee’s commitment to delivering intensely local news is evident in its diverse markets, which include major cities such as St. Louis, MO; Buffalo, NY; Omaha, NE; and Tucson, AZ.

As Lee Enterprises navigates this leadership transition, stakeholders will be watching closely to see how the company adapts and continues to pursue its strategic growth initiatives. Millage’s departure marks not only a personal milestone for him but also a moment of reflection for the company as it moves forward with its mission to provide valuable news and information to the communities it serves.

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