Gannett CEO’s $37.1 Million Retirement Draws Criticism

by Gabe Bullard on October 12, 2011

Gannett CEO Craig Dubow is stepping down due to medical issues. Dubow oversaw roughly 20,000 layoffs at Gannett media outlets, including the Courier-Journal. That’s a fact several media critics have found particularly unsavory in light of news that Dubow will receive $37.1 million in retirement and disability pay.

“…news like this makes you despair,” writes Jeffrey Goldberg in the Atlantic. “Does Craig Dubow actually believe he’s worth $37 million? How much does a man need to live comfortably? How much can Craig Dubow eat?”

Poynter quotes Paid Content’s David Kaplan on the issue:

“Can anyone argue that Gannett newspapers and journalism are better today, and that news consumers are better served? … As revenue fell, and stock prices tanked, and product quality deteriorated, they rewarded themselves huge pay raises and bonuses.”

The leader on this news has been the Gannett Blog, which has updates and analysis galore on Dubow and all things Gannett.

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