Ex-Tronc Chairman Accused Of Unwanted Sexual Advances: Report

CHICAGO, IL — Hours after Michael Ferro unexpectedly announced Monday his retirement as chairman of the board of directors of tronc, the Chicago Tribune's parent company, allegations surfaced in a Fortune magazine report that the 51-year-old exec had made unwanted sexual advances toward two women. The alleged incidents occurred in 2013 and 2016, and neither woman worked at tronc, according to the report.

In the first case, Kathryn Minshew accuses Ferro, then-chairman of investment firm Wrapports, of forcibly kissing her during a strategy session at the company's corporate apartment, the magazine reports. Just before the alleged kiss, Ferro had signed a term sheet to help finance Minshew's career-advice startup, The Muse.

In the second incident, Hagan Kappler, an executive at Ingersoll Rand at the time, told Fortune that Ferro acted inappropriately toward her during a business dinner in his hotel suite at the Consumer Electronics Show in Las Vegas. She alleges the exec repeatedly hugged her from behind, even though she warned him that he was invading her space. Kappler, who was nine weeks pregnant at the time, also accuses him of grabbing her breast after that warning.

Both women told the magazine that the alleged incidents shocked and scared them. They also admitted to being concerned over business repercussions.

Fortune also spoke to nine people who had previously worked with Ferro, and they said they weren't surprised by the accusations. Former Chicago Sun-Times employees who worked on the Splash and Grid magazines while Ferro owned the paper described a workplace that could be "uncomfortable" for women.

The magazine contacted Ferro last week about the women's allegations, but he declined an interview and did not refute any of the claims. A spokesman for the exec said in a statement Monday that "Michael Ferro has never had a claim filed against him nor a settlement made on his behalf" in more than 20 years as a corporate leader.

"Your on-the-record allegations appear to involve private conduct with private individuals who were not employees of tronc or any other company he ran," the statement added. "As recently announced, Mr. Ferro has retired back to private life after leading a financial turnaround of tronc as the non-executive chairman. There will, therefore, be no other comment."

More via Fortune

Image via tronc