Lee executives rake in millions

Jan 19, 2015 by

Life is good at the top for Lee Enterprises executives. With the company’s debt somewhat under control after successful refinancing efforts, CEO Mary Junck got a hefty increase in total compensation in 2014.

She earned a shade under $3 million — $2,827,705, according to the company’s proxy statement. That included a $1,150,000 bonus.

Chief Financial Officer Carl Schmidt received a total of $1,267,840, up from just $728,310 in 2013. He collected a $533,000 bonus.

Thus enriched, Schmidt announced his retirement as of July 1.

“Lee is in a very good place,” Schmidt said in a statement released by Lee. “Our long-term financing is set through 2022, and we have built a solid foundation for the future. As a result, it allows me an opportunity to spend more time closer to, and with, my growing family, give something back through volunteering and otherwise accomplish a few of the things on my must do list.”

The United Media Guild wishes Carl nothing but the best. And if for some reason Lee Enterprises reneges on his retirement package, the UMG will be glad to assist his recovery efforts.

We know a pretty good lawyer.

Related Posts

Tags

Share This

%d bloggers like this: