WaPo Sugar Daddy (Not Don Graham) Steps Down

From the Washington Post:

The head of The Washington Post Co.’s biggest revenue-generating business is resigning after 17 years, the company said yesterday.

Jonathan Grayer, 43, chairman and chief executive of Kaplan, a wholly owned subsidiary of The Post Co., joined Kaplan in 1992 and became the education company’s president and chief operating officer in 1997. Grayer will be succeeded at the end of the year by Andrew S. Rosen, chief executive of Kaplan’s higher education business.

According to SEC documents filed yesterday, Grayer will receive his base salary, which was not disclosed, and incentives, in addition to $46 million related to the Kaplan stock option plan. Honoring the noncompete clause of his contract will net Grayer an additional $30 million by November 2011.

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