Rod Sherwood, Steve Chessare Exit Westwood One/Dial Global
November 21, 2011 at 4:21 AM (PT)
DIAL GLOBAL informed the SEC in an 8-K filing FRIDAY (11/18) that ROD SHERWOOD and STEVE CHESSARE have exited the company's WESTWOOD ONE.
SHERWOOD, the former WESTWOOD ONE President/CEO, will receive his $600,000 base salary and benefits for one year as well as equity compensation that vested immediately upon his termination.
CHESSARE, the SVP/Sales, Network for WESTWOOD ONE until the merger with DIAL GLOBAL's VERGE MEDIA COMPANIES, LLP, will get his base salary of $380,000 in equal installments over six months, plus health benefits.