Dow Jones & Co., the parent of The Wall Street Journal, Barron’s and Marketwatch, filed an 8-K late Friday that disclosed it was giving outgoing chairman Peter Kann $1.6 million in stock, the Associated Press reported.
The AP story stated that it gave Kann, who was CEO of the company until the beginning of 2006, “42,704 shares of Dow Jones stock under an incentive program.
“Dow Jones announced on Wednesday that its board expects to elect independent director Peter McPherson as the company’s next chairman at its next shareholder meeting in April.
“Kann, who is 64, had previously also served as the company’s chief executive from 1991 until Feb. 1 of last year, when he was succeeded by Richard Zannino. The company had previously announced his plans to retire.”