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| Economy |
| Janet Robinson Consulting Pay |
| 2011-12-16 |
| h/t Instapundit The New York Times Company today abruptly announced that its 61-year-old chief executive officer, Janet Robinson, will leave at the end of the year, with no permanent successor lined up. An SEC filing says Ms. Robinson will get $4.5 million plus health insurance for a 12-month retirement and consulting agreement, including "two-year non-competition, non-solicitation and non-disparagement covenants, a three-year cooperation covenant and an indefinite confidentiality covenant." The Times itself reported that Ms. Robinson's pay in 2009 was $4.9 million, so she'll earn almost as much as a retired consultant as as a full-time CEO. The handy investment calculator on the Times corporate Web site shows that $10,000 invested in NYT stock the day Ms. Robinson took over as CEO, on December 27, 2004, would be worth $1,855.14 today, a decline of 81.45%. The price of the stock went from $40.59 when she took over to $7.53 today, and though some dividends were paid out early in her tenure as CEO, the dividend has since been suspended. It's good to be a member of the elite Or as they used to say, 'nice work if you can get it.' |
| Posted by:g(r)omgoru |
| #4 Bang up job, Janet! We'll toast to you! Manolo, bring the fine Napoleon Brandy! And the good crack! |
| Posted by: Pinchy 2011-12-16 21:50 |
| #3 More like to keep her from telling where the bodies are buried. |
| Posted by: Pappy 2011-12-16 11:23 |
| #2 What's she going to "consult" on? Where the bodies are buried? |
| Posted by: Mitch H. 2011-12-16 09:56 |
| #1 Ah, for the good old days. Who remembers the Qwest CEO forced out with a $500M parachute? |
| Posted by: Skidmark 2011-12-16 08:55 |