5-14-2012
The Abritron Board of Directors has appointed 47 year old Sean Creamer Chief Financial Officer until a new CFO is hired. Creamer is already the COO of the company. Richard Surratt resigned as CFO as of May 11th. Surratt will remain an employee of the Company until June 8th. In connection with his employment Surratt entered into an Executive Retention Agreement with Arbitron. Surratt will be entitled to receive compensation under the terms of the retention agreement: an amount equal to twelve times his monthly base salary multiplied by 1.55 or $620,000. Creamer will retain his COO position while the company searches for a new CFO.
