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Research Firm’s Founder Explains $6 Million Payment to Fired Forbes Editor
The New York Times • • business
Key Points:
- Randall Lane, former chief content officer of Forbes, was paid $6 million by RJ Shook, founder of Shook Research, for services and guidance including assistance in selling Shook's firm last year.
- The payment came under scrutiny after Forbes learned of the transaction, leading to Mr. Lane's firing last month.
- Shook Research provides financial adviser rankings used by Forbes for its lists, and Mr. Lane helped establish the partnership between Forbes and Shook Research in 2016.
- RJ Shook expressed regret over the payment, stating it was a mistake made with good intentions and that it raised concerns about the integrity and independence of his firm's rankings.
- The payment was made after Shook sold a controlling stake in Shook Research to PPC Enterprises, a private equity firm, last year.
