Infogroup turmoil continues with Hart's departure
Jinfo Blog

By Tim Buckley Owen

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Infogroup’s turbulent history continues with news that Clare Hart, the former Factiva boss brought in to restore some stability and forward momentum to the company, is leaving after barely 18 months in the job. She is replaced as chief executive officer by Michael Iaccarino.

Two years ago Infogroup USA just managed to retain its NASDAQ listing, after firing its chief executive Vin Gupta in relation to a shareholder lawsuit and agreeing to more stringent board oversight (report from LiveWire’s Nancy Davis Kho). Then towards the end of 2009 came news that bidders were interested in the company, which incorporates company and industry intelligence provider OneSource.

The interest continued into 2010 resulting in its eventual sale to the private equity firm CCMP Capital Advisors – but again, not without some wobbles as further elements of its troubled past were addressed. By this time Clare Hart, who had left Factiva following a reorganisation earlier that year (comment from Nancy Davis Kho again), was expected to head Infogroup under its new owners.

Joining shortly after, she commented that her goal was revenue growth, not cost cutting and lay-offs. But now she too is part of the company’s colourful history.

Announcing her replacement, CCMP Capital managing director Richard F Zannino said that board member Iaccarino would be able to “hit the ground running”, thanks mostly a “highly talented management team”, which Clare Hart played no small part in putting together. In an interview with FreePint’s Michelle Manafy for VIP magazine last February, Hart made clear that her decision to join the company was influenced by the fact that it held onto some very talented individuals despite its rough period.

To this team, she added some of her own leadership picks, including Richard Hanks as chief financial officer, and Susie Robinson heading human resources. But despite her goal of going for growth rather than lay-offs, jobs did need to disappear under her stewardship.

As MrWeb reports, in reducing the company from 18 business units to just five, she also had to eliminate around 140 staff positions. And meanwhile Infogroup is still pursuing legal action against Gupta for alleged theft of its databases.

Reading between the lines you have to wonder whether, having been brought in as an experienced pair of hands to stabilise the company, Clare Hart has now herself been replaced by the owner CCMP’s man. If so it would reprise her departure from Factiva, in which LiveWire’s Nancy Davis Kho suggested that she appeared to have “gotten the short end of the stick”.

But as VIP’s Michelle Manafy commented, Clare Hart is as much a thought leader as a chief executive so can transcend her time at any one company. She’ll be back.

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