Jan 4 (Reuters) - News Corp (NWSA.O) will pay former New York City Education Chancellor Joel Klein more than $4.5 million if he meets targets set in his new role as chief executive of the media company's new education unit.
Klein starts in his new role this month after a decade overseeing New York City's schools where he was paid around $250,000 a year.
His base salary with News Corp will be eight times that at $2 million plus a cash signing-on bonus of $1 million. He has also been set an annual bonus target of not less than $1.5 million, according to regulatory filings.
From July Klein will also be able to take part in the company's stock option awards scheme.
News Corp Chief Executive Rupert Murdoch tapped Klein to run his company's new education unit in November. The media mogul has become an increasingly vocal advocate of public school system reform.
$4.5 million from Murdoch - who bought the online educrap company that produces Klein's favorite education program, School of One.
You know, the program used by the NYCDOE and now promoted on PBS with a push from Bill Gates.
Nice work if you can get it.
Klein belongs in jail with the CityTime crooks.
So does Gates.
And don't get me started on that GMO shit he's feeding people in Africa.
Just curious, but I was under the impression that when you leave the DOE you can't do business with them for a year. I guess in the rarified atmosphere down at Tweed that doesn't apply. Only to teachers in the hinterlands.
ReplyDeleteGood point, anon. Perhaps I'll call the public advocate's office and find out.
ReplyDeleteAnon, rules are for the little people, not for the kleptocrats.
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