Staff announcement: Sam Zell named chairman, CEO

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Following are excerpts from Sam Zell’s note to staff upon becoming the chairman of the board and chief executive officer of the Los Angeles Times’ parent, Tribune Company:

It’s a great day--for you, for me, and for this company.

We’ve now launched the boat together, and we have to start paddling. We’ve got a long way to go to shed all the things that tied us down in the past, and to realize the enormous potential we can create. You’ll see a lot of changes in the coming months.

We will take intelligent risks and reward innovation.
We will tear down bureaucracy and reward entrepreneurial spirit.
We will compete fiercely but with integrity.
We will work hard and have fun....

I’m looking forward to meeting many of you during a site-visit road show in mid-January....

Let’s go for greatness.