So what do you do for an encore? Give the new CEO a boatload of money, that's what!
Incoming New York Times CEO Mark Thompson stands to make at least $8 million dollars by the end of 2013, financial filings with the Securities and Exchange Commission revealed Friday.Great work, guys!
The outgoing BBC director general will be paid a base salary of $1 million, a sum that will be substantially padded by assorted perks, bonuses and benefits.
When he starts work in November, the 55-year-old will be eligible for a $3 million signing-on bonus, $100,000 in relocation allowances, $25,000 for legal fees (that non-disclosure agreement sure is expensive - ed) and $333,000 in salary and bonuses until the end of this year.
In 2013 he will also be eligible for $1 million a year under the company's annual incentive program and be able to tap $3 million as part of the company's long-term incentive program, bringing the total to nearly $8.5 million.
The Times, which is America's most prestigious newspaper (ha ha - that's a good one! - ed) as well as a growing online news power, said it had recruited Thompson for his ability to develop non-traditional news products.