Vinod Gupta CEO & Chairman of Infogroup resigns

Vinod Gupta, an NRI who is also the founder of Omaha based company called Infogroup has resigned from the company’s board of directors. He was also serving as the Chairman of Infogroup.

Vinod gupta was removed from the post of chairman of Infogroup by the board of directors in 2008 for excessive spending. He has supposedly around $9 million on personal luxuries like planes, houses, a yacht and a Memorial Stadium skybox. Since this money belongs to the company, after he resigned, the company is planning or a sale of these items.

InfoGROUP was founded in 1972 by Vinod Gupta. The headquarters are located in Omaha, NE, USA. The company employs over 5,000 people in 88 offices worldwide. InfoGROUP has over 4 million customers worldwide and revenues in 2006 were over $700 million.

Right now, private-equity firm CCMP Capital Advisors LLC will acquire Infogroup for $635 million, or $460 million in cash in addition to assumption of the company’s debt. Vinod Gupta, who owns more than a third of the share of Infogroup has agreed to support the deal.

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