Times Mirror Selects Zimbalist as New Chief Financial Officer

Efrem Zimbalist III, executive vice president of Times Mirror Co. and president and chief executive of its Times Mirror Magazines division, has been named chief financial officer of the Los Angeles-based parent company. He will continue as CEO of the magazine division and will be given the added title of division chairman. The division also appointed Jason E. Klein president and chief operating officer.

Zimbalist, 52, who joined the company in 1992, succeeds Thomas Unterman as CFO. Unterman will leave Times Mirror at the end of 1999 to become a principal of the general partner of TMCT Ventures, a private equity investment firm jointly owned by Times Mirror and interests of the Chandler family, which owns a large stake in Times Mirror, publisher of the Los Angeles Times, Newsday and Baltimore Sun, among others. The magazine division’s titles include Outdoor Life, Popular Science and Sporting News.

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WM Business Bank, a division of Washington Mutual Inc., has named Jay Wahlgren senior vice president and regional manager for California. He will be responsible for overseeing management, operations and business development for WM Business Bank’s California network, which specializes in lending to mid-sized businesses. Prior to joining WM Business Bank, Wahlgren was executive vice president and manager of Sanwa Bank California’s commercial banking division.