Posted on: Thursday, May 26, 2005
Craig Dubow, 50, named Gannett's chief executive
By Seth Sutel
Associated Press
NEW YORK — Gannett Co., the largest newspaper publisher in the country, said yesterday it has named Craig A. Dubow as its new chief executive, taking over from Douglas H. McCorkindale, who will stay on as the company's chairman. Dubow will assume his new post July 15.
Dubow, who is 50, is currently head of Gannett's broadcasting division, which includes 21 television stations. He also has been elected to the board of directors, which will bring the board's total to nine members.
Paul Ginocchio, a publishing industry analyst with Deutsche Bank Securities, called the succession announcement "somewhat expected" but said it was "about a year early."
Ginocchio said he expected investors to view Dubow's appointment as a "sound decision," adding the broadcasting executive was "a known quantity."
As for McCorkindale, Ginocchio said: "Everyone knew (he) would be departing in a year, but the fact that he's staying on as chairman probably comforts a lot of people."
Gannett owns 102 daily papers in the United States including The Honolulu Advertiser.
Gannett has said it was looking for a successor for McCorkindale, who turns 66 next month, but the timing of the announcement was somewhat surprising since his contract runs through June of next year.
