Outgoing New York Times CEO Janet Robinson received an exit package worth $23.7 million after presiding over an eight year tenure that saw the company's share price fall by 80 percent. The company's net earnings over the past four years were $3 million. In addition to her exit package, Robinson earned a $1 million annual salary. Edmund Lee for Bloomberg News:
Robinson gets pension and supplemental retirement income valued at $11.4 million, performance awards of $5.39 million, restricted stock units worth $1.07 million and stock options worth $694,164, according to the company’s proxy statement filed with the Securities and Exchange Commission today. She will also earn $4.5 million in consulting fees for this year.
Robinson’s exit, which costs Times Co. more than the company earned in the past four years, marks an end to a period during which the publisher’s sales and earnings slumped amid intensifying online competition. Times Co. (NYT) stock plunged more than 80 percent during Robinson’s tenure as CEO, which began in December 2004.
The departure of Robinson, 61, also leaves a leadership vacuum at Times Co., publisher of the namesake newspaper. The company, based in New York, faces falling print-advertising revenue, profit squeezed by pension costs, and pressure from members of the Ochs-Sulzberger family to restore a dividend once worth more than $20 million annually.
New York Times CEO Robinson’s Exit Compensation Package Tops $23 Million [Bloomberg News via Tech Dirt]
(Image: The New York Times building (new style), a Creative Commons Attribution (2.0) image from scobleizer's photostream)
The UK is one of the easiest places in the world to set up a shady company, which is why accused Mafia money-launderer Antonio “Tonino the Blond” Righi set up his shell company Magnolia Fundaction UK with Britain’s Companies House, giving an address in Soho.
Before being convicted of felony securities fraud, smirking cartoon villain pharma-douche-bro Martin Shkreli had to be tried in front of a jury and this presented a unique problem because everyone hates Martin Shkreli, and thus more than 100 jurors were dismissed from the pool during pre-trial questioning. Here are some of the statements that led […]
Stanford’s Center for Research on Education Outcomes released this study in 2015, comparing the outcomes for students enrolled in online charter schools with comparable students (controlled for grade level, gender, race/ethnicity, free lunch eligibility, English language status, special ed status and historical state achievement test scores) in brick-and-mortar classrooms.
Toaster ovens are the perfect appliance for small things like toasted sandwiches and roasted garlic (try it!), but anything more involved usually requires a full-sized conventional oven.However, despite its small size, the Wolfgang Puck Pressure Oven can handle anything from baked pastries to broiled meats. This kitchen appliance has a minimal countertop footprint, and cooks […]
The Pry.Me Bottle Opener holds tens of thousands of times its own weight, and you can pick one up now from the Boing Boing Store.This remarkable keychain is considerably smaller than any of your keys, but don’t let that fool you: it can easily open any bottle, and could even tow a trailer full of […]