Updated: Tue Sep. 30 2008 2:24:17 PM

The Canadian Press

TORONTO — Jagoda Pike, the publisher of Canada's largest circulation newspaper, is leaving her post at the Star Media group to help lead Ontario's bid for the 2015 Pan American Games.

Torstar Corp. (TSX:TS.B) has named Donald Babick interim president of the Star Media group and publisher of the Toronto Star.

Babick, a former senior executive in the Southam and Canwest newspaper organizations, has been a member of the Torstar board since 2004.

The changes are effective Oct. 4.

Pike spent 22 years with TorStar, the final two as the Toronto Star's publisher. She was the first female in that position.

Before her return to the Star in 2006, Pike spent five years as publisher of the Hamilton Spectator, where she chaired the city's bids for the 2010 and 2014 Commonwealth Games.

In a statement, Pike said she is "thrilled to be joining" the Pan Am effort.

"Having this event take place in Ontario would provide a tremendous opportunity to not only showcase our province but to provide a much needed shot in the arm to the Ontario economy and leave a lasting legacy for our children," she said.

Pike is joining the bid group as chief operating officer. Former Liberal Premier David Peterson is the chairman of the committee.

On Thursday, Toronto Mayor David Miller, Ontario Minister of Health Promotion Margarett Best, and Canadian Olympic Committee president Michael Chambers will join Peterson to officially launch Ontario's bid for the 2015 Pan American Games.

TorStar has launched an immediate national search for the next publisher, CEO Robert Prichard said in a release.

"We will be considering both internal and external candidates and expect to announce a successor before the end of the year," he said, adding that Pike "has made major contributions to Torstar over the past 22 years and we are very grateful for all she has done."

Besides the Toronto Star, Torstar owns the Hamilton Spectator and other newspapers in southern Ontario, digital companies thestar.com, toronto.com, Wheels.ca, Workopolis, and Olive Canada Network as well as the Metroland publisher of community and daily newspapers.

The Toronto-based media company also owns Harlequin Enterprises, a global publisher of books for women, and has investments in other media businesses.

In trading Tuesday on the TSX, Torstar B shares rose 57 cents to $11.99, although by midday, shares were trading at $11.56, a change of 1.2 per cent from Monday's close.