(Reuters) - Mark Thompson, the newly appointed chief executive of New York Times Co, stands to make $6 million next year, roughly six times more than he did at the BBC.
Thompson, outgoing director-general of the British Broadcasting Corp, will receive a compensation package in 2013 that includes $1 million in base salary, up to $2 million in bonuses based on targets, and $3 million in performance-based options, according to a U.S. regulatory filing on Friday.
At the BBC, Thompson made £622,000 ($975,100) in the fiscal year 2011-2012.
His compensation is similar to that of former New York Times CEO Janet Robinson, except that Thompson will not take part in the company’s pension plan.
Thompson will also receive up to $60,000 to cover the cost of relocating to New York from Oxford, England, and $25,000 in legal fees connected with the employment agreement, the company said in a filing with the Securities and Exchange Commission.
The agreement stipulates that Thompson is an “at-will” employee, meaning he can leave or the company can terminate his employment at any time. All New York Times executives are at- will employees.
The Times Co said the offer is contingent on a background check “which has already satisfactorily been completed” and a pre-employment drug test.
Thompson was named CEO on Tuesday, capping an eight-month search for a new chief. He starts in November.
Robinson left abruptly last year after a 28-year career with the company. She received a total payout of $24 million.
New York Times Co Chairman Arthur Sulzberger Jr received $5.9 million in total compensation in 2011.
Shares of New York Times Co were up 6 cents at $9.45 in afternoon New York Stock Exchange trading.
($1 = 0.6379 British pounds)
Reporting by Siddharth Cavale in Bangalore and Jennifer Saba in New York; Editing by Phil Berlowitz; Editing by Jeffrey Benkoe, Lisa Von Ahn, John Wallace and Phil Berlowitz