Acxiom Corporation (ACXM) recently added Tim Cadogan to its Board of Directors. Cadogan has been serving OpenX, as a CEO since April 2008.
OpenX is the leading provider of digital advertising technology, which enables the firms to manage and maximise their advertising revenue.
Prior to OpenX, Cadogan served at Yahoo in a number of executive positions, including Senior Vice President of global advertising marketplaces. He has also served in leadership positions at Overture Services and was a management consultant at McKinsey & Company and The Boston Consulting Group.
Further, Acxiom also announced that John Battelle will be nominated as a candidate for election to the board at the annual stockholders meeting in August. John Battelle is the founder and executive chairman of Federal Media Publishing.
Meanwhile, earnings estimates have moved down marginally although the company reported better-than-expected results for the fourth quarter of fiscal 2012.
For fiscal 2013, Acxiom expects to undergo several management and investment changes, which would pace up yields substantially.
Earlier, in March 2011, John A. Meyer resigned as the CEO, President and a Director of the Board. Scott Howe was appointed as the CEO and President on July 26, 2011. Also, CFO Christopher W. Wolf resigned on June 1, 2011 and on January 11, 2012, he was replaced by Warren Jenson, who was also appointed as the Executive Vice President of the company.
Changes in top management positions of a company usually have a pervasive impact on its overall functioning, goals and investor perception. It remains to be seen how the new management charts a growth trajectory for the company.
We continue to maintain a Neutral recommendation on ACXM. Our recommendation is supported by Zacks #3 Rank, which translates into a short-term rating of Hold.
ACXIOM CORP (ACXM): Free Stock Analysis Report
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