Sun-Times CEO Steps Down

The chief executive officer of the Chicago Sun-Times' parent company has resigned.

Cyrus Freidheim says there's been a power shift on the board of the Sun-Times Media Group and he is voluntarily stepping down. His resignation is effective Feb. 28 and the company hasn't named his replacement.

Davidson Kempner Capital Management LLC is the shareholder in the company that engineered the removal of all but one of Sun-Times Media's seven-member board last month, including Freidheim.

The 73-year-old Freidheim became CEO in 2006 and instituted staff cuts and outsourcing of several functions and departments as advertising revenue decreased. He previously was a vice president for Booz Allen Hamilton.

In addition to the Sun-Times, the company publishes community papers in the Chicago area.