Another fun fact from the New York Times’s proxy: Senior executives can get an extra bonus for hiring minorities and women instead of white guys.Don’t believe it?
Let’s go to the text:
The [Compensation] Committee also retained the discretion to increase or decrease the individual component of the total bonus paid to each executive by up to 10% based on the continuing development of a diverse work force, including the inclusion of diverse candidates in hiring processes and the demonstration of personal commitment to diversity through participation in diversity-related activities, such as mentoring and sponsorship of affinity groups.
And how did NYTCO’s senior management do on this category of potential bonus for this year?
- Chairman Arthur Sulzberger didn’t get any extra
- Neither did CEO Janet Robinson
- But Michael Golden, CEO of NYTCo’s “regional media group” got an extra 5%.
So, what did Michael do for this money, exactly?
(By the way, is this really legal?)
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