GateHouse Media continued to revamp its top management today, announcing the appointment of Melinda Janik as its senior vice president and chief financial officer.
Ms. Janik comes to GateHouse from Paychex, Inc., a company that specializes in helping small businesses outsource many of its employees.
Ms. Janik, 52, will receive $275,000 a year, compared to the $250,000 her predecessor Mark Thompson received in 2007. She is eligible for a $137,500 bonus. She will also receive four weeks of vacation, and be eligible for medical and dental coverage.
As usual, while she undeniably will be involved in decisions that will cost people their livelihoods, GateHouse Media has made sure Ms. Janik is protected in case the company has to send her packing. If that occurs, she will receive her full year's salary and bonus, adding up to $412,500.
GateHouse Media, owner of The Carthage Press, Neosho Daily News, and more than 300 publications across the U. S., saw its stock drop today to seven-and-a-half cents per share.
The information on GateHouse Media's other recent top dollar addition, President and COO Kirk Davis was featured in the Jan. 13 Turner Report.