Arbitron CEO Creamer Has Deal - Will He Stay?
Arbitron’s deal with President-CEO Sean Creamer includes a compensation package of up to $1.74 million for 2013. He also received at least $1.45 million in restricted stock units granted as he accepted the post, which began Jan. 1
Creamer could top both, however, in a severance deal if he leaves Arbitron if the company is acquired by Nielsen -- or with a new contract if he stays.
In a government filing, Arbitron said Creamer’s 2013 base salary is $580,000, and he could receive a bonus of up to $1.16 million if the company’s return-on-invested capital is higher than 12% this year.
The restricted stock units vest quarterly over a three-year period, and Nielsen would be expected to assume them if a merger is consummated.
Creamer, who had been COO since 2011, took his position Jan. 1, replacing Bill Kerr. Creamer was involved in Arbitron’s efforts last year to sell itself, and took the call Oct. 1 when Nielsen CFO Brian West expressed interest in a deal.
On Tuesday, Nielsen executive Steve Hasker reiterated Nielsen’s intention of looking to acquire Arbitron, telling investors that Arbitron’s radio data will help it gather information on another two hours of consumers’ time per day. With Arbitron, TV and digital data, Hasker said Nielsen is covering all media consumption except print.
Hasker also said test data on viewing on tablets will be available to clients as the new TV season starts in the fall. He did not offer a date on smartphones since testing is ongoing about the possibility of measuring smartphone viewing among those in the Nielsen TV sample.