Another Top Exec Leaves InfoUSA
Chief financial officer Steven Purcell's resignation announcement July 31 marked the third top-level departure in a month. He joins CEO Scott Dahnke, who left Aug. 1, and chief operating officer Jon Wellman, who departed July 1. Dahnke was with the Omaha, NE, company for less than a year, Purcell -- who leaves Sept. 1 -- for 16 months and Wellman just less than three years.
Purcell will be replaced by corporate controller Rick Puckett, who has been with the company for one year. Despite the turnover, founder, chairman and CEO Vin Gupta and an experienced team of managers remain in place. Gupta, who took over the title of CEO when Dahnke left, said the departures don't create any additional work for him and he doesn't plan to search for a new CEO.
"Vin Gupta has been the consistent voice internally through this entire run of both the hires and subsequent resignations, so this can be less disruptive than in an instance when you hadn't had a person at the top throughout,'' said BT Alex Brown analyst Chris Feiss.
Feiss added, however, that such a spate of resignations is disruptive to operations and a concern for investors. InfoUSA stock dropped 5 3/4 points in July to 9 7/8.
Amid the executive news, InfoUSA has launched a new Web site (www.infousa.com) that enables small businesses to generate prospect lists and access business profiles, directories and research tools.