Arbitron CFO Richard Surratt Resigns

Richard Surratt, the Chief Financial Officer of radio ratings giant Arbitron, is leaving the company for 'personal reasons' after just 14 months in the post. When he leaves on May 11, Surratt's duties will be assumed by COO Sean Creamer until a replacement is found.

When Surratt joined the firm in February 2011, he succeeded Creamer who had been promoted to EVP, US Media Services the previous June.

Before joining, Surratt (pictured) was President and CEO at education software supplier Voyager Learning, prior to which he was EVP and CFO at Atlantic Coast Airline Holdings, and worked for Mobil in a number of senior finance roles.

Arbitron President and CEO Bill Kerr says of the resignation: 'I want to thank Richard for his contributions to Arbitron and wish him well.'

Creamer was Chief Financial Officer from November 2005 to February 2011, and named EVP COO in August last year. Claims that he had broken federal securities laws by failing to admit that there would be delays in the commercialization of Arbitron's PPM (Personal People Meter) ratings service, were dismissed in 2010. However, at the time, the court rejected motions by Arbitron and former CEO Steve Morris to dismiss the lawsuit completely, and Arbitron has since reached a $7m legal settlement with the shareholder who brought the claim.

Web site: www.arbitron.com .