Media union hails Godfrey’s step down as Postmedia CEO
2019.01.10 | NEWS RELEASE
Media union CWA Canada, which represents staff at several Postmedia newspapers, welcomes the announcement that Paul Godfrey is stepping down as CEO.
“It’s just a shame it didn’t happen years ago,” CWA Canada President Martin O’Hanlon said. “It is not hyperbole to say that Godfrey has been a disaster for the newspaper industry in this country.”
“Godfrey has presided over the destruction of a once-proud chain, laying off thousands of staff and leaving decimated newsrooms. It has been a nightmare for workers, bad for society, and damaging to our democracy.
“Especially galling is the fact that Godfrey took a huge raise last year, to $5 million, and funnelled millions more to Postmedia’s vulture fund owners, while demanding that staff take concessions on pension and benefits. Unfortunately, there is no indication that new CEO Andrew MacLeod will be any different.”
It was under MacLeod, chief operating officer, that Postmedia moved last June to close six small-town newspapers, cut print publication of four more, and cut another 10 per cent of its workforce by the end of August.
Although MacLeod is taking over the company’s helm, the 80-year-old Godfrey will remain as executive chair, according to Thursday’s announcement. It came as the company reported a $1.4-million net loss for the quarter ended Nov. 30. A year earlier, Postmedia reported a profit of $5.8 million although much of it was a result of asset sales.
Godfrey has run Postmedia since its founding in 2010.
CWA Canada represents staff at Postmedia newspapers across the country, including the Ottawa Citizen, Ottawa Sun, Montreal Gazette, Kingston Whig-Standard, Sault Star, North Bay Nugget, Sudbury Star, Windsor Star and Regina Leader-Post.
For more information, contact:
President, CWA Canada
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