Travis Waldron, Nation of Change
Submitted by: Jon Gilbert
After Disastrous Tenure, CEO Given $32 Million Severance Package
[Nation of Change] Dubow’s final compensation package includes $12.8 million in retirement benefits, $6.2 million in disability benefits, and a $5.9 million severance payment, according to the filing. Gannett stock options and restricted stock, which Dubow had accrued during his years of employment with the company, were also part of the package. Those stock awards are valued at nearly $7 million.
And the severance package doesn't even include the nearly $150,000 dollars Gannett will continue to pay annually for up to three years for Dubow's multimillion dollar life insurance policy, health insurance, home computer, secretarial assistance and financial counseling.
An individual who was a complete failure was worth a $32,000,000 severance package to Gannett News. Never mind that he cost the company nearly $2 billion in revenue.
Each one of the 20,000 workers who was laid-off was only worth $1,600 apiece. No wonder they were let go without severance packages.