Tuesday, April 29, 2014

Tribune Publishing CEO will take the money and run

Two weeks ago Jack Griffin took the helm of Tribune Publishing as the CEO, as the Tribune Co. prepares to spin off it's eight newspapers into a separate entity.

If Mr. Griffin tires of running the newspaper empire he has a golden parachute that will reward him with $2,000,000. Most people would love to have a sweet deal such as this, quit your job, and walk away with two million dollars.

Mr. Griffin's base salary is $1,000,000, with a matching bonus of $1,000,000, and stock options worth $1,500,000 for a total compensation of $3,500,000 yearly.

I can only assume the new publishing company is expected to be bringing in plenty of cash after the spin off mid-year, how else can this nice salary be explained?

1 comment:

Anonymous said...

As usual when it comes times for negotiations for the Pressroom the over used mantra will be we have no money even though they haven't had a cost of living raise in 15 years.
And the extra bullshit will be we have to attract talent to ride the times into the gutter.