The Onion CEO to Step Aside for New Leadership

Crain’s Chicago Business: Something serious is happening at Onion Inc.: its CEO is stepping down — or maybe up is a better description. Steve Hannah, who has been CEO since 2004, will turn that title over to Mike McAvoy, 35, the company’s president and chief operating officer. But Hannah, 67, will become chairman, at the request of the company’s biggest owner, David Schafer. “I am going to resign as CEO and make a dramatic exit in mid-July,” Hannah said in a memo to staff.