Wednesday, March 10, 2010

Vinod Gupta Resigns

Vinod gupta former chief executive and founder of omaha-based infogroup resigned from the board of directors.

Gupta was removed as chairman of Infogroup's board of directors in 2008 for excessive spending and was ordered to pay the company $9 million that he spent on personal luxuries, including planes, houses, a yacht and a Memorial Stadium skybox. Shortly after he resigned as CEO, then urged the company to consider a sale.

Monday, Infogroup announced it reached an agreement with CCMP Capital Advisors LLC to be acquired for $635 million, or $460 million in cash in addition to assumption of the company's debt.

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