By: Mark Fitzgerald
Lee Enterprises CEO Mary Junck told its board “she would not accept any bonus for 2008,” and she won’t get a cash bonus this year, either, the Davenport, Iowa-based community newspaper publisher disclosed in its annual meeting proxy.
“For 2009, we have suspended annual cash incentives for the CEO, due to difficult economic conditions affecting the company, the publishing industry and the overall economy,” Lee said in a filing with the Securities and Exchange Commission (SEC).
Lee also said the pay of all executives would be frozen at 2008 levels.
Most named executives received base salary increases of a about 3%, including Junck’s which was $850,000. Her total compensation in 2008 was $2,543,453