Based on today's quarterly earnings alone, the board of directors should put CEO Craig Dubow on a performance improvement plan -- instead of having rewarded him with a $1.75 million bonus. Yesterday marked the third anniversary of his ascent to CEO. Performance of Gannett, competitors, and the S&P-500 index since then:
- GCI: down 76%
- New York Times Co.: down 59%
- Washington Post Co.: down 34%
- S&P-500: up 0.25%
Earlier: Eight words to remember on Dec. 31, 2008
[Data and image: Google Finance]
Baseball managers get fired faster with a performance that's a lot better than this. So do rank-and-file Gannett employees. Craig has no business spending another day running this team.
ReplyDeleteAnd he doesn't deserve a nice parachute (or pillow) on his way out the door, either. His $1.75 million bonus this year was generous (and offensive) enough as it is.
ReplyDeleteThrow the "captain" over the sinking ship!!!!! He will go eventually with alot of sacrificed employee's and stock money! Crooked system....Maybe he should be getting "Merit Pay" like "gannett" pushes on it's employee's?!
ReplyDeletewhy is craig dubow still in office? My few shares (that I get only because I have a 401K) vote him out now. Who agrees?
ReplyDeletePlease tell me you have been rolling over your Gannett Stock into something more productive, please tell me you have...
ReplyDeleteIt's probably time for a corporate raider to sieze the company, cut 20,000 jobs, sell off its assets, then retire to Hamilton, Bermuda.
ReplyDeleteOr, like some have said, have Rupert take it over. (Oh, I have friends who worked for Ruppy and hated every minute of it).