Arbitron Names Stephen Morris Chairman, Makes Other Appointments, Announces Dividend
May 17, 2007 at 6:10 AM (PT)
ARBITRON announced several actions taken at its annual meeting of stockholders, held in NEW YORK on MAY 15, and by the company's Board of Directors at its meeting following the annual meeting.
STEPHEN B. MORRIS, ARBITRON's Pres./CEO, was appointed by the Board to serve as Chairman. LUIS NOGALES was appointed to serve as Lead Independent Director, and WILLIAM T. KERR was elected by the company's stockholders to serve on ARBITRON's Board of Directors for a one-year term.
MORRIS will be replacing LAWRENCE PERLMAN, who served as non-executive Chairman of the company's Board of Directors for the past six years. Commenting on his successor, PERLMAN stated, "STEVE has been with ARBITRON for 15 years, in which time his efforts have helped bring about a transformation of the company and a revolution in media measurement. Given his track record of innovation and his dedication to the company, I am confident that he will successfully lead ARBITRON's Board of Directors in the same manner he has the company."
MORRIS commented, "I am delighted to have been given the opportunity to take on the role of Chairman of ARBITRON's Board, and am eager to begin working together with my fellow directors to ensure the future success of ARBITRON. I would also like to thank LARRY for his service to the company and wish him success in his future endeavors."
Arbitron Announces Dividend
The Board of Directors has approved the payment of a quarterly cash dividend of 10 cents per common share 40 cents per share on an annualized basis. The dividend will be paid on JULY 2 to shareholders of record as of the close of business on JUNE 15. As of APRIL 30, there were approximately 29,931,000 shares outstanding.