Board of Directors Declares Quarterly Dividend; Samuel Palmisano Elected Director
ARLINGTON, Va. — At its regular October meeting, the Gannett Board of Directors today declared a quarterly dividend of 20 cents per share, payable on Jan. 4, 1999, to shareholders of record on Dec. 11, 1998.
In addition, Gannett directors elected Samuel J. Palmisano of International Business Machines Corp. to the board.
With his election, Gannett directors number 10.
“Sam Palmisano is a very successful executive,” said John J. Curley, Gannett chairman and CEO. “We welcome the opportunity to benefit from his diverse talents and experience.”
Gannett’s directors serve for staggered terms, with approximately one-third of the board standing for election each year. Palmisano’s term begins Nov. 1, 1998, and he will stand for re-election at Gannett’s May 4, 1999, shareholders meeting.
Palmisano has been with Armonk, New York-based IBM since 1973, and has served in many top executive positions for that company, including his current position as senior vice president and group executive for IBM Global Services. Palmisano also serves on IBM’s Corporate Executive Committee.
Palmisano is a graduate of The Johns Hopkins University.
Gannett is a nationwide news and information company that publishes 75 daily newspapers, including USA TODAY and USA WEEKEND, a newspaper magazine. Gannett also operates 21 television stations and cable television systems in major U.S. markets.