Janet Robinson was pushed out of her post at the top of the New York Times Co. by Arthur Sulzberger Jr. and his cousin Michael Golden, according to Bloomberg News. Not that we need to feel sorry for her. Her exit package was even bigger than originally reported, $21 million.
Some speculated that Mr. Golden, recently relieved of his duties managing the Times Co.’s regional newspaper division, would succeed Ms. Robinson but, according to Bloomberg’s Edmund Lee, the company is looking for a CEO outside the family.
It would be a sticky spot for a Sulzberger, as some family members are anxious for the company to restore its payouts, which used to be worth north of $20 million annually and have not been paid since 2008. Some “repeatedly pressed” Ms. Robinson and Mr. Sulzberger.
Even Mr. Sulzberger’s interim performance as ceo has been scrutinized by insiders. Some are concerned he’s traveling too much, with visits to Istanbul, Beijing, Munich, London, Paris and Switzerland (where his lady friend Claudia Gonzalez works) for a variety of confabs in the past year and a half.
There’s lots more good stuff about the company’s business strategy over at Bloomberg.