On December 22, 2008, the former CEO and Chairman of the Board of infoGROUP (NASDAQ:IUSA) Vinod Gupta, released a statement regarding his opinion that infoGROUP should “explore its strategic alternatives, including a sale of the Company,” according to Mr. Gupta’s release.
In response to Mr. Gupta’s release, Bernard W. Reznicek, Chairman of the Board of Directors of infoGROUP stated, “We understand Mr. Gupta’s concerns and we share his desire to enhance shareholder value for all the Company’s shareholders. In the regular course of discussions of our Board of Directors, we frequently focus on various opportunities which may present themselves for us to further shareholder interests.”
He also commented that “the Board of Directors has a great deal of confidence in the Company’s management team and is pleased with the efforts of all the associates of the infoGROUP Companies. The Board of Directors has devoted considerable resources in recent months to hiring several new members of senior management and the development of financial and strategic plans.” Source: InfoGroup Press Release