Each will be geting generous parting checks from Cumulus Media as they head-out the door.
According to a SEC filing, former CEO Lew Dickey, who actually transitions to a new post as "Vice Chairman" is receving a package totaling $4.35 million. That's triple his current base salary of $1.45 million. The package also includes 18 months of company benefits, such as health and dental.
John Dickey, who has actually "left the building" will get $1.75 million, double his base of salary of $875K.
Incoming CEO, Mary Berner will be getting an annual base salary of $1,450,000 to start. Her agreement is for three years and contains a provision for automatic extensions of one-year periods thereafter. Her salary will be received "from time to time" by the cumulus Board.
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