Paddock board elects new director, promotes CFO
The board of Paddock Publications Inc., owners of the Daily Herald, has elected Aziz El-Tahch to the board and promoted Kent Johnson, Chief Financial Officer, to executive vice president of the company.
El-Tahch, the managing director at Stout Risius Ross, LLC, served as Paddock's financial adviser during the complex conversion last fall of Paddock from a family-owned company to one that is 100 percent employee owned.
El-Tahch also sits on the board of directors of Dynetics Inc., an Alabama-based employee-owned company with 1,400 participants.
"We got to know Aziz during the Employee Stock Ownership Plan conversion and knew that he would be an excellent addition to the board because of his financial expertise," said Douglas K. Ray, chairman, publisher and CEO of Paddock Publications. "But more than that, employee ownership carries with it considerable duties and specific responsibilities and Aziz understands them all and will provide advice, strategy and direction to help make our company the finest in the field. He is recognized as a premiere player in the ESOP universe. I was delighted he accepted our invitation to join us."
Johnson's promotion is acknowledgment of his continued good work on myriad financial initiatives, most recently his key role in the ESOP transaction, Ray said.
Johnson's title had been Senior Vice President/Chief Financial Officer/Treasurer/Secretary.
Johnson also has been the lead analyst in various acquisitions, including the company's portfolio of community newspapers in central and southern Illinois.