New York Times (NYSE: NYT) chief executive Janet Robinson received a mere $2.1 million in 2007 total compensation - a 38% pay cut from last year. The executive's compensation consisted of a $1 million base salary and $1.1 million in non-stock incentive bonuses. She was eligible to receive up to twice her salary if certain targets were met, but the executive failed to attain the targets and received no stock options.
The decrease in compensation was mainly due to a policy change, however. The New York Times changed the timing of its awards to February following the year for which they are intended as compensation for. Robinson received 650,000 options as compensation in 2007 along with 65,000 in preferred stock. These amounts will be reflected in the executive's 2008 total compensation. So much for hoping...
Related CompaniesGanett Co., Inc. (GCI)Media General, Inc. (MEG)The McClatchy Company (MNI)