Marjorie Magner named Chairman; Gracia Martore named CEO
MCLEAN, Va., Oct 06, 2011 (BUSINESS WIRE) --
Gannett Co., Inc. (NYSE: GCI) today announced that Craig A. Dubow,
chairman and chief executive officer, has resigned due to disability.
Dubow had taken a leave of absence on September 15 to address continuing
issues relating to prior medical conditions.
Marjorie Magner, an independent director since 2006 who has been
chairman of the audit committee, has been named non-executive chairman
of the board. Gracia C. Martore, president and chief operating officer,
who has been serving as principal executive officer while Mr. Dubow was
on medical leave, has been named president and chief executive officer
and joined Gannett's Board of Directors.
"I've been with Gannett for 30 amazing years," said Dubow. "I am
extremely proud of where we are today as a company. We have always
maintained an unwavering focus on the consumer. As a result, we have
evolved into a digitally led media and marketing solutions company
committed to delivering trusted news and information anywhere, anytime.
For me, the decision to step down was difficult, but I must now focus on
my health and my family. I will miss working with the talented team at
Gannett and firmly believe the company's best days lie ahead. Gannett is
in good hands under Gracia's leadership and well positioned to succeed
"During the past six years, Craig has repositioned Gannett as a leading
media and marketing solutions company during an extremely challenging
time for our industry," said Magner. "Craig championed our consumers and
their ever-changing needs for news and information. He was instrumental
in building a strong management team combining talent from within the
company as well as from the outside -- a team that shares a common
passion and vision for Gannett's future. We thank Craig for his
dedication and for the solid foundation he has laid for the company
Magner continued, "We are very fortunate to have an executive of
Gracia's tenure and caliber in place and ready to lead the ongoing
transformation of the company for long-term growth. She is smart,
straightforward and committed to Gannett's mission to provide trusted
news and information and serve our many communities. Gracia has a proven
track record and has demonstrated effective leadership over 26 years at
the company. Most importantly she has an incredible sense of
responsibility for ensuring Gannett's continued success."
"I have great admiration for what Craig has achieved in building our
business to meet the changing needs of consumers and businesses today.
We will miss him and wish him and his family the very best," said
Martore. "I am honored to be assuming the lead at Gannett at this time.
We will continue our relentless quest to provide trusted news and
information and will actively support the people and businesses in the
communities we serve. We have the strategy, brands and talent to ensure
that we fulfill our purpose for a long time to come."
Magner is Managing Partner of Brysam Global Partners, a private equity
firm investing in financial services firms with a focus on consumer
opportunities in emerging markets. Magner left Citigroup in 2005 after
18 years, most recently as Chairman and CEO of the Global Consumer
Group. She is also a director of Accenture Ltd. and Ally Financial Inc.
Martore joined Gannett in 1985 after 12 years in banking and became
chief financial officer in 2003, executive vice president in 2006, and
president and chief operating officer in 2010. She serves on the Board
of Directors of FM Global and holds a BA degree in History and Political
Science from Wellesley College where she was a Wellesley Scholar.
Gannett Co., Inc. (NYSE: GCI) is an international media and marketing
solutions company that informs and engages more than 100 million people
every month through its powerful network of broadcast, digital, mobile
and publishing properties. Our portfolio of trusted brands offers
marketers unmatched local-to-national reach and customizable, innovative
marketing solutions across any platform. Gannett is committed to
connecting people - and the companies who want to reach them - with
their interests and communities. For more information, visit www.gannett.com.
SOURCE: Gannett Co., Inc.
Gannett Co., Inc.
For media inquiries, contact:
Vice President, Corporate Communications
For investor inquiries, contact:
Director, Investor Relations