Steve Hannah announced Wednesday that he is stepping down as CEO of The Onion on July 1 after 11 years in the position, TheWrap has learned. For now, he’ll stay on as chairman, while longtime executive Mike McAvoy will take over as chief executive.
Hannah is widely credited with leading The Onion’s digital transformation, as well as the company’s move to Chicago, where it recently doubled its office space. His departure also comes as The Onion continues its discussions with interested buyers about a possible sale of the company.
“There are a number of players who we’re still we’re having conversations with,” Hannah told TheWrap, noting that a deal is not imminent. “We’re not in any hurry. We have a good and profitable business.”
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Hannah cited the recent creation of new verticals Onion Sports and Star Wipe, a parody of Hollywood entertainment...
