Gupta steps down as CEO of InfoGroup

Share this article:

Gupta steps down as CEO of InfoGroup

Vinod Gupta, CEO of Info­Group, resigned from his execu­tive position at the firm he founded in 1972 on August 21. His action was part of a settlement agreement relating to a shareholder lawsuit, according to a report filed with the US Securities and Exchange Commission.

InfoGroup declined to comment beyond its press release. Gupta will remain on the board of direc­tors. He stepped down from his position as chairman of the board when the board's special litigation committee separated the roles of chairman and CEO last month.

Shareholders Cardinal Value Equity Partners and Dolphin Lim­ited Partnership filed the lawsuit in Delaware last year, alleging Gupta had misspent millions of the company's money.

Dolphin Limited Partnership also declined to comment. Accord­ing to SEC filings, the special liti­gation committee for InfoGroup identified $818,748 as personally benefiting Gupta last year, and $646,931 in 2006. The commit­tee also ordered Gupta to pay the company $9 million.

With Gupta's withdrawal, Bill Fairfield has been named CEO. Bernard Reznicek has assumed the role of chairman of the board.

In a statement, the new leaders said that they will ensure a seam­less transition.

“InfoGroup is a financially strong company with a healthy balance sheet, solid cash flow and tremendous growth potential,” said Reznicek, in a statement.

Share this article:
close

Next Article in Data/Analytics

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Data/Analytics

Harvard Prof: Marketers Need to Step Up Their Predictive Abilities

Harvard Prof: Marketers Need to Step Up Their ...

Statistics expert Edo Airoldi says data must be paired with predictive analytics before marketers can truly forecast customer behavior.

The (Marketer's) TV Guide

The (Marketer's) TV Guide

Public broadcasting station WGBH in Boston cleans up its dirty data and boosts donations.

Acxiom Mobilizes and Socializes SMBs

Acxiom Mobilizes and Socializes SMBs

MyAcxiomPartner.com enables simple campaigns for social and mobile channels.