NYT Co. CEO Robinson will step down, receive $4.5 million consulting fee

Posted on December 16, 2011

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If only we could all quit our jobs and acquire millions of dollars in consultant fees for the next year. That’s the deal that New York Times Co. CEO Janet Robinson will get when she steps down at the end of the year. Robinson has been CEO since late 2004 and has reportedly built one of the greatest newspaper online success stories since then. Of course, while the success the New York Times has seen online might be considered a leader in the industry, the revenue certainly hasn’t offset the amount lost in print advertising. The Associated Press reports that Times Co. received $293 million on $3.3 billion in revenue since Robinson took over in 2004. Yet, the newspaper publishing giant is only expected to earn $93 million on $2.3 billion in revenue from this year. It’s rumored that this is why Robinson has chosen to step down at this time. Meanwhile, the president of New York Mailers’ Union Local 6 is not exactly happy about the Times’ decision to pay Robinson $4.5 million in consultancy fees during 2012. We can’t say it better than union president Arthur DeIanni:

“The Times likes to slam CEO excess, until they are the ones doing it. It is offensive to the hard-working men and women who make sure the Times is ready for delivery to millions of people throughout the NYC metropolitan region that the board of the Times would give Janet Robinson a $4.5 million golden parachute while offering a 26% pay cut to middle-class Times workers.”

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