The New York Times Co. said today that Dawn Lepore, chairman and chief executive of Bellevue-based drugstore.com., has agreed to stand for...
The New York Times Co. said today that Dawn Lepore, chairman and chief executive of Bellevue-based drugstore.com., has agreed to stand for election to its board of directors when shareholders meet in two months.
Lepore took over at online pharmacy drugstore.com in 2004 after serving as vice chairman at Charles Schwab Corp. She already is on the board of eBay and formerly was on the board of Wal-Mart.
“Dawn Lepore is highly respected with deep experience in the digital sphere and strong relationships in both Silicon Valley and the Seattle technology community,” New York Times Co. Chairman Arthur Sulzberger Jr. said in a statement.
The company, which owns The New York Times, International Herald Tribune, Boston Globe and 15 other daily newspapers, also said it has nominated Los Angeles lawyer Robert Denham for election to its board during its annual shareholders meeting April 22.
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Denham is a partner with the California law firm Munger, Tolles & Olson. He represented Berkshire Hathaway in its acquisition of Iscar and Business Wire and its purchase out of bankruptcy of Fruit of the Loom, according to the firm’s Web site.
Shares of The New York Times Co. are down about 30 percent from a year ago amid an overall decline in newspaper circulation and print advertising revenue.
The company is preparing for a proxy fight with hedge funds seeking representation on its board, The Wall Street Journal has reported.
Lepore and Denham would replace Brenda Barnes and James Kilts, who will not be standing for re-election, the company said.
Last week, drugstore.com reported a fourth-quarter profit of $156,000, its first quarterly profit since going public nine years ago.
Amy Martinez: 206-464-2923 or email@example.com