Gannett CEO Would Receive $19.3 Million For Leaving

gannett_3.22.10.jpgOn the heels of the revelation that Gannett Co’s CEO, Craig Dubow, received a 41% pay raise in 2009 amidst layoffs at the newspaper publisher comes news that, as of December 31st, he has $19.3 million coming his way should he leave his post. A good portion of that sum — $9.5 million — goes towards Dubow’s pension.

Gracia C. Martore, Gannett’s president, COO, and CFO Gracia C. Martore would take away a total of $10 million.

Other perks for resigning include legal and financial counseling, $25,000 a year in medical coverage for Dubow, Martore and their respective families, as well as $75,000 over five years to charities of their choice. Dubow would also receive Medigap coverage once he hits 65, three years’ access to the company airplane, and even office and secretarial assistance for three years as well as complimentary “home computer assistance.”