ATLANTA -- Outgoing Gov. Zell Miller will do more than teach when he leaves office Jan. 11.
Post Properties and Gray Communications Systems have announced Mr. Miller will join their boards of directors the week he leaves office.
Mr. Miller said earlier this month that he would be sitting on some corporate boards, but wouldn't say which ones.
"Zell has been one of the most successful and innovative governors in Georgia's history," said John A. Williams, chairman and chief executive officer of Post Properties. "We are delighted that he has agreed to share his insight and wisdom to help guide the future of Post Properties and the cities and states we invest in."
J. Mack Robinson, Gray's president, has been a big-money political backer of Mr. Miller. He also helped set up the Miller family's Mountain Bank, which has since been sold.
During the 1990 gubernatorial campaign, Mr. Miller was accused of helping Mr. Robinson get a lucrative intangible-tax exemption, a charge the governor strongly denied.
"We are excited about Gov. Miller's addition to the company's board of directors," Mr. Robinson said. "His many years of experience in state government as well as his many years dealing with both the television and the newspaper media will enable him to make an immediate contribution to the operations of our company."
Documents filed with the U.S. Securities and Exchange Commission show directors on the Post Properties board earn $12,000 a year plus a $500 fee for each meeting they attend -- in person or on the phone. Directors also receive expense money and stock options.
The Atlanta-based company is one of the largest developers and operators of upscale multifamily apartment communities in the Southeast and Southwest. Nationwide, Post owns 32,505 apartment units at 96 sites.
Gray Communications Systems, also headquartered in Atlanta, operates three NBC-affiliated television stations, seven CBS-affiliated television stations, including WRDW in Augusta, and three daily newspapers: the Rockdale Citizen, the Albany Herald, and the Gwinnett Daily Post.
SEC documents show Gray directors received an annual fee of $10,000 in 1997, plus $500 per meeting and $500 for attending committee meetings. Directors also are allowed to buy up to 7,500 shares of Gray common stock directly from the company yearly.
Besides serving on corporate boards, Mr. Miller plans on teaching at Emory University and Young Harris College during the spring semester, and at the University of Georgia next fall.
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