Dubow Gets $14.7M Disability Package From Gannett

Former CEO stepped down in October due to persistent medical issues

By Michael Malone -- Broadcasting & Cable, 1/30/2012 12:08:06 PM

Craig Dubow, former Gannett chairman and CEO, received a $14.7 million payment related to a physical disability that compelled him to resign in October.

Dubow's payment was revealed in Gannett's fourth quarter earnings call Jan. 30.

"During the quarter, we reported special charges of $14.7 million for the disability-related retirement of our former chairman and CEO," said Paul Saleh, Gannett senior VP and CFO.

Marjorie Magner was named chairman upon Dubow's departure and Gracia Martore became president and CEO.

A 30-year Gannett veteran, Dubow took four months off in 2009 following back surgery. He took a leave of absence on Sept. 15 to address continuing medical issues, before signing off for good Oct. 6.

Gannett has planned first quarter furloughs for employees in its U.S. Community Publishing and Gannett Publishing Services departments. Broadcast division employees are not, for the most part, affected, though employees at KPNX Phoenix will be furloughed.