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Vinod Gupta WHO IS Vinod Gupta? Infogroup Board Chairman Vinod Gupta Resigns Vinod Gupta the founder and former chief of executive and board chairman of Omaha-based Infogroup has resigned from the company’s board of directors
Infogroup, the marketing and business research firm that employs about 1,500 people in the Omaha metropolitan area, is headed toward to private ownership. The company has agreed to be acquired by CCMP Capital Advisors. The acquisition could conclude a years long drama that included investigations by the Securities and Exchange Commission, IRS and shareholder lawsuits alleging the misspending of millions by founder and former CEO Vinod Gupta. It also could involve the removal of Gupta as head of the company.

Vinod Gupta, the founder and former chief of executive and board chairman of Omaha-based Infogroup has resigned from the company’s board of directors.

Gupta’s resignation from the the marketing and business research firm that employs about 1,500 people in the Omaha metropolitan area and 3,000 worldwide, ends a 38-year run with the company that included times in which the company grew organically and through acquisitions, but also lawsuits and investigations that alleged he misspent millions in shareholder money on personal expenses and on his friends former President Bill Clinton and Secretary of State Hillary Clinton.

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. 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. Gupta, who owns more than a third of Infogroup’s total shares agreed to support the deal before resigning from the board, according to a filing with the Securities and Exchange Commission.
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