[Left to right, from top: Harper, Magner, McFarland and Williams]
Following is from last year's proxy report to stockholders (full text), describing the board of directors' Executive Compensation Committee; it has four members. Duties include determining annual pay for Chairman and CEO Craig Dubow (below):
The Executive Compensation Committee has overall responsibility for approving and evaluating the compensation plans, principles and programs of the company. The committee’s duties and responsibilities include reviewing and approving on an annual basis corporate goals and objectives relevant to compensation of the company’s chairman, president and chief executive officer, executive vice president and chief financial officer, and other senior executives, including members of the Gannett Management Committee, Gannett Newspaper Operating Committee, Gannett Broadcast Operating Committee and other company and divisional officers. This committee met five times during 2007.
These directors need to be replaced.
ReplyDeleteIt's time to vote NO for these directors. Aren't Karen and Duncan close to mandatory Board member retirement anyway?
ReplyDeleteI just got my e-mail about the proxy and voted to withhold for all directors. I figure a new crop could at least do what these yahoos have done. Hell, I could do what they've done - and I readily admit I know NOTHING about running a company.
ReplyDeleteHow do they sleep at night?
ReplyDeleteThis is a really sad. I remember when I was proud to be a Gannett employee. Sad, just sad.
ReplyDeleteTake note in the proxy's director compensation section how much McFarland and Hastie Williams earned. Just who is kissing who?
ReplyDeleteFrom proxy:
ReplyDeleteThe Nominating and Public Responsibility Committee historically has relied primarily on recommendations from management and members of the Board to identify director nominee candidates.
However, the Committee will consider timely written suggestions from shareholders. Shareholders wishing to suggest a candidate for director nomination for the 2010 Annual Meeting should mail their suggestions to Gannett Co., Inc., 7950 Jones Branch Drive, McLean, Virginia 22107, Attn: Secretary. Suggestions must be received by the Secretary of the Company no later than January 18, 2010.
The manner in which the Committee evaluates director nominee candidates suggested by shareholders will not differ from the manner in which the Committee evaluates candidates recommended by other sources.