Gannett Announces Elimination of the CEO Position for the Operating Company and the Departure of Paul Bascobert

Gannett Co., Inc. (“Gannett”, the “Company”) (NYSE: GCI) announced today that the Board of Directors (“The Board”) has decided to streamline the operating structure of the Company by eliminating the position of CEO of the operating company, Gannett Media Corp. (“Gannett Media”). Given this decision, the Board and Paul Bascobert have mutually agreed for Mr. Bascobert to terminate his employment with the Company. Mr. Bascobert’s departure is not the result of any inappropriate action by Mr. Bascobert, any violation of company policy, any accounting irregularity or any material deterioration in the business of the Company.

Michael Reed, Chairman and Chief Executive Officer of Gannett, has assumed Mr. Bascobert’s responsibilities. While the Board does not intend to conduct a search to fill the role of Chief Executive Officer of Gannett Media, the Board does remain focused on attracting and retaining individuals whose skills and diversity will contribute to the Company’s digital transformation.“

The Board and I would like to thank Paul for his contributions during such an important period for our Company. Paul made a significant impact, helping to integrate the two companies, navigate through this current pandemic and lay the groundwork for our revenue transformation,” said Mr. Reed. “The Board remains committed to our plans for continued integration and transformation.”

“I am proud of the progress Gannett has made in bringing together two great media companies. It is a terrific team with a bright future,” said Mr. Bascobert. “I remain committed to the importance of journalism in our country and wish nothing but great success for Gannett.”
https://investors.gannett.com/news/news-details/2020/Gannett-Announces-Elimination-of-the-CEO-Position-for-the-Operating-Company-and-the-Departure-of-Paul-Bascobert/default.aspx

Related Posts

Print Unit Sales Soared Last Week (publishersweekly.com)

(subscription required) Holiday book buying kicked into high gear last week, with unit sales of print books jumping 44.3% over the week ended November 29, 2020, at outlets that report to NPD BookScan. The smallest gain in the week came in young adult fiction, where sales increased 31.2%, whereas the biggest jump was in young adult nonfiction, which had an 86.8% increase. In general, the sales boost came from higher sales of existing titles. For example, The Boy, the Mole, the Fox and the Horse, last year's Barnes & Noble book of the year, saw sales skyrocket to about 138,000 copies last week from just over 14,000 copies in the previous week. Holiday favorite How the Grinch Stole Christmas had a 77% sales jump in the week, with sales nearing 52,000 copies sold.

The Latest Case Study on the Need for Paper Options: Expiration of Critical Security Software Cripples Communications (keepmepostedna.org)

On October 1, a critical piece of code used on over 2 billion websites to safeguard security expired. Companies large and small were disrupted. And untold millions of consumers around the globe that do not have the latest and greatest digital devices suddenly could not access the sites they wanted or needed to. The quiet sunsetting of the Let’s Encrypt security certificate is still wreaking havoc because it is the most widely used piece of code authorizing access to secure websites. Consumers are finding that their desktop, mobile, Mac, Windows, Android and other systems and devices cannot connect to many websites using the HTTPS security protocol if their personal tech is more than a few years old and not running the latest operating systems. For the fortunate, they will only have the hassles of updating and upgrading – but many will now be forced to buy new technology. This same issue has occurred on a smaller scaler with lesser used security certificates, and has the potential to reemerge as other certificates expire. This is a critical matter for consumers who already have been demanding the option of paper correspondence mailed to them by their service providers. Why? Because it is these same service providers, including banks and financial services institutions, insurance companies, healthcare providers, telecoms and utilities that are the most likely to use the secure internet protocols, and valid security certificates are necessary for accessing private, personal account information.

PRC Outlines Activities in FY 2023 Annual Report to the President and Congress

In addition to reviewing and approving proposed rate changes for Market Dominant and Competitive products, new product proposals, and formal complaint adjudication, the Commission performed new activities as dictated by the Postal Service Reform Act (PSRA) and beyond. In FY 2023, the Commission: *Issued a Flats Operation Study with principal findings as required by the PSRA *Published reports that (1) reviewed the Postal Service's compliance with pricing and service standards, (2) provided an in-depth analysis of the Postal Service’s finances, and (3) evaluated whether the Postal Service met its performance goals as required under the law *Successfully implemented several of its strategic goals in its 2023-2028 Strategic Plan. In particular, the Commission completed a comprehensive stakeholder analysis that informed new activities currently underway surrounding the Commission’s engagement with stakeholders and the general public *Initiated a Public Inquiry Docket to examine the recent and planned network changes associated with the Postal Service’s Delivering for America Plan *Presided over rulemakings related to Commission processes and activities
Back To Top
×Close search
Search