Gary Pruitt, who resigned as president and CEO of McClatchy, The Kansas City Star’s parent company, was paid more than $3.6 million in 2012, according to documents filed with the SEC last week.
Pruitt left McClatchy last May to become president of the Associated Press.
His earnings include a base salary of $489,462, deferred compensation of $3.1 million and other compensation of $49,666. When left the company, he forfeited $828,000 in stock options. In 2011, he earned $4.3 million. In 2010, he earned $3.7 million. He was also given two paintings that hung in his office, worth $35,848.
His replacement, Patrick Talamantes, earned $1.6 million in 2012. He’ll get a 10 percent raise in 2013, bringing his base salary from $750,000 to $825,000. In 2012, he got a $270,000 bonus for meeting company goals.
The SEC filings note Talamantes oversaw “significant progress is meeting the challenges faced by newspaper companies,” and though ad revenues fell short of the company’s goals, revenue trends had improved for most of 2012. Digital only advertising grew throughout 2012 to become 22 percent of McClatchy’s advertising revenue, reaching $197 million.
The documents note that Talamantes’ salary is 20 percent below the industry median.
Mark Zieman, McClatchy’s vice president of operations, and former publisher of The Star, earned $1.4 million in 2012, including a base salary of $543,154 and a $131,000 bonus. The company provided $164,643 to help move from Kansas City to McClathy’s home base of Sacramento.