Scott Heekin-Canedy, the president and general manager of the New York Times, will retire next month and his position will be eliminated, the company said Tuesday.
Heekin-Canedy, 61, who has served in his position since February 2004, will leave the paper effective Dec. 30.
The newspaper executive will receive a severance package of 52 weeks of pay -- about $587,000 -- as well as 52 weeks of health plan coverage and two years of financial counseling from the company.
Before managing the paper, Heekin-Canedy, who joined the Times in 1987, served as senior vice president of circulation. He held various executive positions before that.
In 1989, he briefly left the Times to work as the financial planning manager at the Los Angeles Times.
The Times did not immediately respond to requests from TheWrap for comment.