Nielsen Adds Two, Subtracts One From Board

Board Changes

NIELSEN N.V. has made some changes to its Board of Directors after reaching agreement with investor THOMAS H. LEE PARTNERS to eliminate a provision of a letter agreement that gave LEE the right to nominate one director to the NIELSEN board.

In the move, GANESH RAO resigned from the board on THURSDAY (10/30), and NIELSEN CEO DWIGHT M. BARNS and ARES MANAGEMENT LLC Senior Advisor KATHRYN V. MARINELLO were elected effective FRIDAY (10/31) to serve through the next annual meeting.

MARINELLO was also elected to serve on the board's Audit Committee and the company's Supervisory Board and Audit Committee.  MARINELLO is being paid an annual retainer of $80,000 and an annual grant of $135,000 of deferred stock units to be pro-rated for the first partial year of service.

BARNS will not be paid for his board service, since he is already employed by the company.

« see more Net News