Meyer Says Acxiom's Core Business Sound

by Jamie Walden  on Thursday, Jan. 17, 2008 1:53 pm  

John Meyer doesn't officially take over as CEO of Acxiom Corp. of Little Rock until Feb. 4, but he's already got his work cut out for him.

Meyer said the company will keep the president/CEO role separate from the chairman of the board. He said Michael Durham will remain chairman.

Compensation

Acxiom detailed Meyer's compensation plan in an 8K document filed with the U.S. Securities and Exchange Commission on Thursday.

According to the filing, Meyer's contract runs to May 16, 2011, and is renewable by one-year terms. His initial base salary is $700,000 per year. And he is eligible to receive a target cash bonus equal to 100 percent of his salary and a maximum cash bonus of up to 200 percent during each contract year, according to the 8-K.

Meyer, who said he has not invested in Acxiom in the past, will receive nonqualified stock options of 465,000 shares of the company's common stock and 115,000 shares of restricted stock units.

Meyer also received a $700,000 signing payment. A Dallas resident, he will also receive a $5,000 per month "relocation allowance" until he establishes residence in Little Rock, which he is required to do within six months.

Meyer said he wants to be in Little Rock to be close to Acxiom operations and employees.

"I believe you need to be as close to the employees as you can because that's where things happen and that's where we generate value," he said.

Evolution

Asked whether Acxiom needs an overhaul or just a little tweaking, Meyer said, "I think it's going to be more of an evolution."

Later, Meyer mentioned that he had turnaround experience. He said that when he started at EDS, the company was in "a bit of turmoil."

"We had lost five of the seven leaders, regional leaders," he said. "I went into the environment where I had to do that, hire new people."

Meyer said he helped grow EDS revenue in its European, Middle Eastern and African markets from $3.6 billion to $7.2 billion in four years.

"We were pretty successful, I'll take credit for the fourth quarter results," he said.

"Let's hope that's indicative of what we can do over here."

 

 

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