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Perlman to Retire from Arbitron Board
Arbitron Director and Non-Executive Chairman Lawrence Perlman has informed the Board that he will retire from the posts in the spring of 2007, following the conclusion of his current term, and not seek re-election.
The Nominating and Governance Committee of the firm's Board of Directors will begin a search for a nominee to replace him.
Perlman comments: '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.'
President and CEO Steve Morris thanked Perlman for his 'countless contributions'. '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.' He adds: '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.'
Arbitron is online at www.arbitron.com .
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