Acxiom's Morgan to Retire After Buyout Plan Scuttled

by Lance Turner and Gwen Moritz  on Monday, Oct. 1, 2007 8:01 am  

Charles Morgan, Acxiom's company leader, seen here in this photo taken when the data services firm announced a $3 billion deal to be bought by ValueAct Capital Partners and Silver Lake Partners in May.

In 2005, while ValueAct was pursuing a hostile takeover of Acxiom, Andreozzi was being paid $50,000 a month to prepare to replace Morgan. He said Monday that he had not been on ValueAct's payroll for more than a year. In April he was named CEO of a startup company called Inference Data, which provides services to lawyers.

In May, after Acxiom announced the sell-out plan, Morgan set up legal residence in Dallas, planning to run the company from a new Dallas office. Two other executives, Rodger Kline, chief administrative leader, and Chris Wolf, chief financial officer were also set to work from Dallas. In all, about 30 employees were going to work there.

On Monday, Acxiom spokeswoman Suellen Vann said the company has announced no new plans for the Dallas office, and she was unable to say how many employees current work in the Dallas office.

Morgan's move to Dallas would have financially advantageous. Unlike Arkansas, Texas has no personal income tax or capital gains tax. That meant, that if the sale of Acxiom to ValueAct Capital Partners and Silver Lake Partners went through, Morgan would have gained substantially - free of state income tax - from the $80 million-plus sale of the 3 million Acxiom shares he directly or indirectly owns.


 

 

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