While the NYTCo (NYSE: NYT) struggled under the weight of economic pressures and debt last year, top execs personally did pretty well, even as the company reduced its newsroom by 100 staffers. As the company’s recent Q4 results showed, cost-cutting led to greater profitability and that appears to show in the compensation of chairman and publisher Arthur Sulzberger, Jr., and president/CEO Janet Robinson, according to the NYTCo’s latest SEC filing.
In total ’09, Sulzberger’s compensation was $5,986,738, more than double the $2,331,599 he earned last year. His base salary for last year was $1,046,238. Robinson did even better, earning a total of $6,262,755, which included a base salary of $962,500, for a significant 31.9 percent rise in earnings over last year’s $4,753,314.
Other execs also did pretty well. Michael Golden, vice chair and COO of the Regional Media Group, took home a total $2,400,841, which was a 71 percent gain over the $1,496,959 he got in ’08. CFO Jim Follo earned a total $1,297,269 last year, a 20 percent rise over the $1,096,794 the year before that.
Update: The changes in compensation for the past year may reflect an attempt to balance things for the top execs after the quarterly dividend suspensions for Class A and Class B shares in Feb. ’09 and Nov. ’08. After months of speculation from investors and analysts, the company eventually had to pullback on its generosity. But it may have found another way to make up for the temporary reduction in its largesse.