Know thyself
A story on
Page 3 of the Business section on April 28 overstated the amounts the
top five executives of Tribune Co. would receive if they were to leave
the company in the wake of Tribune’s $8.2 billion deal to take itself
private in partnership with Chicago billionaire Sam Zell. The correct
totals for each of the five executives, including stock holdings
accumulated over long careers, vested options and restricted stock,
bonus amounts, and severance payments are: Dennis FitzSimons, chief
executive, $38.3 million; Donald Grenesko, senior vice president of
finance and administration, $17.3 million; Scott Smith, president,
Tribune Publishing, $16.7 million; John Reardon, president Tribune
Broadcasting; $9.8 million; Luis Lewin, senior vice president of Human
Resources, $5.6 million.
Additionally,
the story incorrectly stated that FitzSimons and Grenesko could
voluntarily leave the company and receive their severance payments if
they did so in the 13 months after the deal closed. In fact, they can
only leave voluntarily in the 30-day period following the first
anniversary of the close.
The Tribune regrets the errors. Link
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