Torstar Corp.’s board of directors have confirmed David Holland as president and chief executive officer.

Holland, a chartered accountant who has worked for Torstar since 1986, had held the position on an interim basis since May.

Torstar owns the Toronto Star and thestar.com, as well as Harlequin Enterprises, Torstar Digital, Metroland Media Group, and other media properties.

The board also named Lorenzo DeMarchi as executive vice-president and chief financial officer, a position that Holland had also filled. DeMarchi moves up from vice-president, corporate development, and has held senior positions at Torstar since 1997.

Holland takes up his post at the end of a recession that has been remarkably unkind to newspapers across North America, including the Star, as advertising revenues have declined.