Peter Liguori will step down as president and CEO of Tribune Media Co. during the first week of March, after the company's 2016 fourth-quarter and full-year earnings release.

The company said Jan. 25 that its board has tapped current director Peter Kern to serve the company as interim CEO while the company looks for a permanent replacement for Liguori, who served as president and CEO of Tribune Media since January 2013.

Liguori will also resign from the company's board. Tribune Media's board will work with Korn Ferry to find a new CEO.