Newspaper article The Canadian Press

Second Postmedia Executive to Depart after Receiving Retention Bonus

Newspaper article The Canadian Press

Second Postmedia Executive to Depart after Receiving Retention Bonus

Article excerpt

Postmedia CFO leaving at end of February

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TORONTO - The chief financial officer for Postmedia Network Inc. will be leaving the struggling newspaper chain at the end of February, just months after he was identified as one of five senior executives eligible for retention bonuses totalling $2.275 million.

Postmedia didn't announce a reason for the departure of CFO Doug Lamb, scheduled for Feb. 28, but chief executive Paul Godfrey said he has "our tremendous thanks" for being Postmedia's CFO since the company was created in 2010.

Documents filed by the company with regulators in November said Lamb was eligible for a $450,000 retention bonus, to be paid in three equal installments on July 15 and Dec. 2, 2016 and July 14, 2017.

Lamb is the second Postmedia executive to leave after receiving such a bonus, including general counsel Jeffrey Haar at the end of November. …

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