Scripps Extends CEO Boehne's Contract

(RTTNews) - E.W. Scripps Co. (SSP) said Monday that it has extended the employment contract for its chairman, president and CEO, Rich Boehne, to August 7, 2016, followed by successive one-year renewals until either Boehne or the company gives at least 90 days' notice of non-renewal.

Financial terms of the agreement remain the same.

Related to the contract renewal, Boehne requested the company make a gift of $1 million to the Scripps Howard Foundation, the philanthropic arm of the company, to establish a donor-advised fund in his name.

Boehne's employment agreement began February 15, 2011, and had been set to end August 7, 2015. He became president and CEO and joined the board in 2008 when Scripps spun off its cable network assets into a separate publicly traded company. Prior to the split, Boehne was chief operating officer of the combined enterprise. He was elected chairman on May 2, 2013.

Boehne, now in his 30th year with Scripps, joined the company as a business and financial news reporter at The Cincinnati Post. In 1988, he moved to the Scripps corporate staff to help the company prepare for its initial public offering. He then held a variety of roles before being named executive vice president in 1999 and chief operating officer in 2006.