Posted 1/17/2008 09:42 am
Updated 11 months ago
Acxiom Corp. of Little Rock on Thursday named John Meyer as its new CEO.
UPDATED: Click here for video new CEO Meyer.
Meyer, 51, will take over for long-time CEO, or "company leader," Charles Morgan on Feb. 4. He also will be a member of Acxiom’s board of directors. Morgan is retiring.
Meyer, who lives in Dallas but will move to Little Rock, has been president of the Global Services group of Alcatel-Lucent since 2003. Before joining Lucent, he spent about 20 years in a various positions at EDS including chairman of the Europe, Middle East and Africa operating team; president of diversified financial services and credit services divisions; and CIO for the company’s GMAC business.
Michael Durham, Acxiom’s non-executive chairman, said in a news release that the data services firm's board of directors unanimously selected Meyer "because of his demonstrated strong leadership skills, his broad experience in the information technology industry and his history of success in building shareholder value."
Thursday's announcement ends a search that began in October, when the firm scuttled its $3 billion plan to be bought out by a pair of private equity firms and go private. Morgan announced at that time that would leave the company. That following month, Morgan announced his retirement but said he would remain with the company on interim basis until it selected a new CEO.
Acxiom said Meyer will be introduced as CEO at 10:30 a.m. at a news conference at its headquarters in Little Rock. He will also be part of the company's third-quarter conference call on Jan. 23.
Thursday's announcement comes as Acxiom's share price, hurt by the scuttled buyout plan and now battered by woes in the financial services and mortgage industies, has sunk to new lows.
On Wednesday, shares of Acxiom (Nasdaq: ACXM) closed at $10.09. In the past 52 weeks, it has traded as high as $28.25 and as low as $9.79. Acxiom's proposed sale price was $27.10.
Morgan told Arkansas Business in a cover story earlier this month that Wall Street's credit crunch was the biggest single factor in the sellout plan falling through.
Click here to see Acxiom's news release.