Vin Gupta Out As InfoGroup’s CEO

Vinod Gupta, who founded infoGroup (then infoUSA) in 1972, has resigned as the company’s CEO, effective Wednesday. Bill L. Fairfield, the lead independent director on infoGroup’s board, has been named infoGroup’s CEO.

“After long deliberation I have decided that this change is in the best interest of the company,” Gupta said in a statement. “I look forward to continuing my service as a director of the company and to pursuing new business opportunities.

Bernard W. Reznicek, a current director, has taken over the role of chairman of the board. Fairfield had served as chairman since July, when a board committee separated the roles of chairman and CEO.

In conjunction with Gupta’s resignation, infoGroup has entered into a settlement with Gupta and the other parties named in a consolidated shareholder complaint.

In addition to his duties as infoGroup’s CEO, Fairfield is the chairman of DreamField Partners Inc., a management services and venture capital firm. He also serves on the board of directors and Audit Committee of The Buckle, Inc., an apparel and footwear firm.