Gannett Extends Tenure of CEO Douglas McCorkindale Through July 2006
McLEAN, VA – At a meeting here today, the Board of Directors of Gannett Co., Inc. (NYSE:GCI) extended the employment agreement of Chairman, President and CEO Douglas H. McCorkindale through July 2006.
James A. Johnson, chairman of the Board’s executive compensation committee, said this action “demonstrates the Board’s high level of confidence in Doug McCorkindale’s successful leadership and assures continuity at the senior management level for years to come.”
McCorkindale said: “I am delighted the Board has asked me to stay on through 2006. This will give me an opportunity to work with our strong management team to complete the important strategic plans we have in place and continue to develop the next level of top management for Gannett.”
McCorkindale’s previous agreement would have ended in June 2004, when he reaches age 65.
Gannett Co., Inc. is a leading international news and information company that publishes 100 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 17 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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