The Pay Package For Departed New York Times CEO Janet Robinson Is Much Bigger Than We Thought (NYT)

Previous rumors that pegged ex-New York Times CEO Janet Robinson's pension payout at $15 million already had employees mad.So the NYT rank and file better brace themselves: it looks like she'll actually receive an exit package of more than $21 million, Bloomberg's Edmund Lee and John Helyar report.Their story, which has a full breakdown of the Times' many financial and logistical problems, is worth reading in full, but here are the highlights:Sources tell Lee and Helyar that the Times wants a non-family member to serve as CEO, which makes it unlikely Michael Golden would take the role.70% of the Times' operating profit in 2011 went to pension and interest costs.The Times is expecting 2011's revenue to be down 2.7% from 2010, shrinking for the sixth year in a row, and the company has lost 80% of its market value since 1999.Chairman Arthur Sulberger, Jr.'s excessive globe-trotting has irritated employees.Priority #1 is to find a digitally savvy new CEO, but no word yet on who that might be.Please follow SAI: Media on Twitter and Facebook.Join the conversation about this story »See Also:REVEALED: The Bars Where New York's Media Elites Booze After Work1.7%President Obama Mentions An Energy Company In His Big Speech And It Goes Bankrupt Instantly

Weiter zum vollständigen Artikel bei "Business Insider"