Update: Arbitron's Michael Skarzynski Exits Under Allegations; William Kerr Replaces
Skarzynski May Have Provided False Testimony
January 11, 2010 at 5:44 PM (PT)
ARBITRON has announced that, effective immediately, MICHAEL P. SKARZYNSKI resigned from his position as the Company’s President/CEO and resigned from serving on the Company’s Board of Directors under a cloud of allegations he may have given false testimony to the Congressional Committee On Oversight And Government.
ARBITRON also announced that, effective immedidiately WILLIAM T. KERR, a member of the Company’s Board of Directors, will assume the position of President and Chief Executive Officer.
According to a just-released statement, SKARZYNSKI resigned after he and the Company's Board together determined that he had violated a Company policy in a matter entirely unrelated to the financial performance of the Company.
Charges Of False Testimony
According to BUSINESSWEEK.com, SKARZYNSKI "may have provided false testimony at a DECEMBER 2nd, 2009 hearing of the Committee On Oversight And Government Reform looking into the company's rating system, according to an e-mailed statement today from Committee Chairman (NY-D) EDOLPHUS TOWNS:
"I am committed to protecting the integrity of the Committee's proceedings, and will review this matter to determine whether the Committee was intentionally misled and whether further action is warranted," he wrote.
Kerr Steps Up
KERR, who replaces SKARZYNSKI, has held Chairman, COO and CEO posts at the MEREDITH CORPORATION for over a decade. "BILL's experience as a CEO and Chairman of a large public media company coupled with his board memberships make him uniquely qualified to lead ARBITRON," ARBITRON Chairman of the Board PHILIP GUARASCIO said. "Additionally, BILL's service as a member of ARBITRON's Board of Directors should provide a fast and effective transition into his new role."