Gannett CEO Dubow To Take Medical Leave

Gannett Co. announced Thursday that its chairman and chief executive officer, Craig A. Dubow, will take a leave of absence to address continuing issues relating to prior medical conditions. Gracia C. Martore, president and chief operating officer, will serve as principal executive officer during his absence as she did during a prior medical leave in 2009 following back surgery. The company didn’t estimate when Dubow will be able to return to work.

Duncan M. McFarland, presiding director, said: “We wish Craig well during this difficult personal time. The board has confidence in Gracia and our very capable management team to run the day to day operations of the company, and we believe Gannett won’t miss a beat at this important juncture.”

“I believe Gannett is in very good hands as we continue to transform the company and position it for a successful future,” said Dubow.

Dubow, 56, has been Gannett’s CEO since 2005. He is also a member of The Associated Press’ board of directors.

Dubow’s contract calls for him to be paid an annual salary of $1.2 million, but he has voluntarily reduced the amount to $1 million in each of the past three years. He decided to forgo part of his salary while Gannett has been laying off workers and cutting other costs to offset a decline in revenue as newspapers’ print advertising shifts to the Internet.