Whoa! CEO of The Grey Lady Up and Quits!
The Daily Mail just reported, New York Times CEO suddenly quits without reason leaving firm without a chief OR digital boss…
The New York Times is today reeling after its chief executive said without explanation or warning that she will step down in just two weeks’ time.
Janet Robinson, 61, has led the newspaper company for seven years through mammoth advertising declines and slumps in its share price.
She will leave along with the company’s long-time digital leader Martin Nisenholtz, meaning the firm will start 2012 without a CEO or digital boss.
The company’s stock price has dropped 82 per cent since she was appointed CEO in 2004 – and it’s down nearly 25 per cent this year alone.
One paper source said ‘no one had an inkling this was coming’.
There’s no mystery here. CEOs announce their “retirement” all the time…with two weeks’ notice…no plan for a successor…in the middle of the biggest holiday of the year…with no explanation…all the time.
Did I mention the New York Times’ profit has also dropped 82% ? Yep. She “retired”.