Matt Kinsman of Folio writes about some recent departures of executives at Crain’s Communications, which operates business newspapers in Detroit, Chicago, Cleveland and New York.
Kinsman writes that the departures included “David Blake (a 24-year-vet who most recently served as publisher of Crain’s Chicago Business and who retired in September), Bob Simmons (a 30-year vet who oversaw the Akron-based group including Plastics News, Rubber & Plastics News, Tire Business and Waste & Recycling News–which he founded–who retired earlier this month) and Marty Ross (who had been with Business Insurance since 1985, most recently as vp/publisher), who moved to the new position of vp/managing director of events and business development before leaving.
“However, some sources are saying Crain is asking some long-time executives to retire or transition to new roles and has changed the compensation plan to make transitions easier internally. ‘Bob Simmons ran Akron as an empire for 30 years and was forced to retire a couple weeks ago,’ says one source. ‘Word is that if you were over 50, you had trouble. Where you used to get a week’s pay for every year, now they get three weeks, period.’
“‘They don’t handle executive transitions well,’ says another source. ‘It’s either too soft a touch or right out the door.’
“Chairman Keith Crain denies any of the three executives were asked to leave.”
Read more here.
