Despite plunging stocks and company cutbacks, it turns out Gannett’s top executive is one of the highest paid in the nation. Gannett Chairman and CEO Craig Dubow earned nearly $7.5 million in total compensation last year, landing him 22nd on a recent Washington Post list of the nation’s top-100 executive earners.
Earlier this month, Gannett announced that its revenue had nosedived 36 percent from the previous year. And although the company’s profits dropped by a whopping $133 million in a mere 12 months, the sharp decline didn’t seem to impact the CEO, who received a $1.75 million bonus in 2007 in addition to his base salary.
Not surprisingly, most Gannett staffers have not fared so well. In fact, the company froze employee pensions in June, a measure expected to save millions.