Gannett CEO Craig Dubow resigns
Newspaper and television giant Gannett Co. is restructuring its executive ranks in the wake of the sudden resignation of its chairman and chief executive over health issues.
Craig Dubow, 56, who has been with Gannett for 30 years, resigned Thursday afternoon because of disability, the company said. Dubow had been on a leave of absence since Sept. 15 to deal with a recurring back issue. He had previously taken a three-month leave of absence in 2009 after having back and hip surgery.
Succeeding Dubow as chairman is Gannett board member Marjorie Magner, who will hold the title in a nonexecutive capacity. Magner is a managing partner of the private equity firm Brysam Global Partners.
Gracia Martore, 60, Gannett’s president and chief operating officer, will succeed Dubow as president and CEO of the parent company of 82 newspapers including USA Today and 23 television stations in major markets across the country.
Like many media companies, Gannett has had cutbacks in recent years. The company’s net income in its second quarter, ended June 30, was $151 million, a 22.5% decline from the same period last year.
A broadcasting veteran, Dubow first joined Gannett as a salesman at the company’s Denver station. He eventually rose to head of the TV unit in 2000 and five years later became chief executive of the entire company.
“For me, the decision to step down was difficult, but I must now focus on my health and my family,” Dubow said in a statement.
Whereas Dubow was well-versed in television, Martore’s background is primarily finance. She joined Gannett in 1985 as assistant treasurer and eventually rose to chief financial officer before becoming president and chief operating officer in 2010.
In an interview, Martore said the company would continue to focus on its digital business and strengthening the relationship it has with the local communities it serves.
“That deep local reach is rare in media and it is something we’re going to continue to leverage,” she said.
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