Gannett Board Approves Corporate Governance Measures
McLEAN, VA – Gannett Co., Inc.’s (NYSE:GCI) board of directors today approved new Principles of Corporate Governance and new or revised charters for key board committees, including the audit and executive compensation committees.
Gannett’s board chose to adopt these measures early, before approval of the New York Stock Exchange’s proposed new listing standards. The measures adopted today fully comply with the NYSE’s proposed standards.
“Gannett remains serious about corporate governance,” said Gannett Chairman, President and CEO Douglas H. McCorkindale. “Implementing these measures demonstrates our commitment to these high standards and to our shareholders’ continued confidence in the company.”
In addition to the governance principles, the directors approved new charters for the company’s Executive Compensation Committee and its Nominating and Public Responsibility (Governance) Committee. Directors also updated the charter for its Audit Committee.
At its meeting in August, the Gannett board approved a formal determination that all seven of the board’s non-management members, a clear majority of the eight-member board, are “independent directors,” as defined by the New York Stock Exchange. The eighth director is McCorkindale.
Gannett’s Principles of Corporate Governance, its Ethics Policy, and the new committee charters are available on the company’s website, www.gannett.com, together with other materials related to corporate governance at Gannett.
Gannett Co., Inc. is a leading international news and information company that publishes 94 daily newspapers in the USA, including USA TODAY, the nation’s largest-selling daily newspaper. The company also owns in excess of 400 non-daily publications in the USA and USA WEEKEND, a weekly newspaper magazine. Gannett subsidiary Newsquest is the United Kingdom’s second largest regional newspaper company. Newsquest publishes more than 300 titles, including 15 daily newspapers, and a network of prize-winning Web sites. Gannett also operates 22 television stations in the United States and is an Internet leader with sites sponsored by its TV stations and newspapers including USATODAY.com, one of the most popular news sites on the web.
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