Tuesday, May 03, 2011

Urgent: Shareholders OK exec pay, elect directors

From a statement just issued by Corporate:

Shareholders today re-elected Chairman and CEO Craig A. Dubow, John E. Cody, Howard D. Elias, Arthur H. Harper, John Jeffry Louis, Marjorie Magner, Scott K. McCune, Duncan M. McFarland and Neal Shapiro to the board of directors at the annual meeting held at the company's headquarters.

The directors were elected to serve one-year terms ending at the 2012 annual meeting.

Shareholders also ratified the appointment of Ernst & Young as the company's independent accounting firm for the 2011 fiscal year; approved an advisory resolution on the compensation of the company's highest-paid executives reported in the 2011 proxy statement, and voted to hold such future advisory votes every year.

Directors also declared a regular quarterly dividend of 4 cents per share, payable on July 1, to shareholders of record on June 3.

GCI's stock, meanwhile, closed moments ago at $15.21, down 37 cents, or 2.4%.


  1. I voted. I didn't OK this.

  2. A majority of shareholders, to be more specific.

  3. I dump my Gannett shares as soon as I get them, so I don't vote. It's tempting, but I don't want to hold onto lousy stock just for the pleasure of voting against these dimwits.

  4. Jim, I'd be willing to bet that the correct phasing would be "a majority of generally institutional shareholders..." I doubt that many individual shareholders were in favor of the existing compensation model.

  5. Institutional investors couldn't careless what Dubow's or any other top executives pay structure is....Dubow and Co. do a terrible job but there pay is not out of line with any major public corporation, thus its not even on anyone's radar. Why don't people understand this???

  6. The majority has spoken.

  7. Who were the other choices????? NONE. The same corrupt, unethical, immoral choices to vote. I decided not to vote because, well, there were no other options Craig Dubow and co. OR ??? a rock? I would have voted for the rock. Any CEO who gets 9.45 million in his benefits package, yet others who are barely surviving and are asked to take a pay-cut? You gotta be kidding me. FIRE THEM ALL including th B.O.D.!

  8. The Guy in the crow's nest5/05/2011 11:10 AM

    Boooooooooooo Hiss. One more year of greed incompetence and no real planning for the digital world and long term future of the company. Ice berg ahead!!!!


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