Lawrence Perlman Stepping Down From Arbitron Board
September 22, 2006 at 2:46 PM (PT)
ARBITRON Nonexecutive Chairman of the Board of Directors LAWRENCE PERLMAN is retiring in the spring of 2007 following the conclusion of his current term. In a letter to the Board, PERLMAN indicated that his decision to retire is the result of his desire to devote additional time to his family and to the pursuit of other personal interests. The Nominating and Governance Committee of Arbitron's Board of Directors will begin a search for a nominee to replace PERLMAN shortly.
Said PERLMAN, "It is with regret that I am announcing my planned retirement from the ARBITRON Board. However, following many years in the corporate world, I feel that the time is right to take a step back and focus more on my personal and family obligations. I have had a long and satisfying association with ARBITRON and through that time, have developed a deep respect for STEVE MORRIS and the other members of the management team, as well as for my fellow directors. I look forward to working with the Board until my retirement and have the utmost confidence that this talented team has the skill and strength necessary to move forward in a way that benefits all of its constituencies."
ARBITRON Pres. and CEO STEVE MORRIS added, "On behalf of the entire ARBITRON team, I would like to thank LARRY for the countless contributions he has made during his time as Chairman. We will miss his valuable insight and guidance, but we understand and appreciate his need to take such a step and wish him the best as he moves on to this next phase in his life. ARBITRON has been and continues to be a leader in sound corporate governance practices, and we will carefully review our options to ensure the best, most responsible Board structure going forward. As LARRY was gracious enough to inform us of this decision well in advance of his planned retirement, we have sufficient time to ensure a smooth transition."