Mary Junck is now executive chairwoman of Lee Enterprises and Kevin Mowbray moves up into Junck’s former roles as president and CEO of the Davenport, Iowa, publishing company.
The appointments, announced in December, were finalized at Lee’s annual stockholders meeting Wednesday.
Lee Enterprises owns half of Capital Newspapers, publisher of the Wisconsin State Journal and The Capital Times.
No information was immediately disclosed on pay packages for Junck and Mowbray in their new positions.
In 2015, though, Junck received a compensation package valued at $2.3 million. That included a $900,000 salary, a $675,000 cash bonus for the company’s financial performance, and stock awards worth $726,000, according to the proxy statement to Lee shareholders.
The stock award won’t fully vest — which means it cannot be cashed out — until December 2017. But Junck did have another 500,000 stock options, awarded at an earlier date, that reached their full value of $1.5 million in 2015 and were not included in the proxy’s $2.3 million compensation summary.
Junck owned 1.7 million shares of Lee Enterprises stock as of December 2015.
Mowbray, who had served as executive vice president and chief operating officer for the past 10 months, received a package worth $937,180 for 2015. Of that, $542,000 was salary and $203,250 was a cash incentive bonus.
Junck, 68, and Herbert Moloney, 64, were re-elected to Lee’s board of directors and Mowbray, 54, was elected a first-time board member at the shareholders meeting.
Mowbray, a former publisher of Lee’s largest newspaper, the St. Louis Post-Dispatch, will be responsible for all aspects of Lee’s operations, including more than 50 divisions in 22 states, with special emphasis on revenue growth and business transformation, the company said in its December announcement about the transition.
Junck will serve as an adviser and mentor to the CEO and will continue as leader of the board. Junck joined Lee in 1999. Her previous experience included stints as publisher of the Baltimore Sun and the St. Paul Pioneer Press.