Acxiom CEO Morgan Retires as Sabre Exec Steps Up

Acxiom Corp. announced today that Chairman and director Charles Morgan is retiring effective immediately.

Michael J. Durham has been chosen as the non-executive chairman. Durham, a member of Acxiom’s board since March 2006, formerly served as a director, president and chief executive officer of Sabre, Inc. The company said it is looking for a permanent replacement for Morgan.

The executive moves occur only a month after Acxiom and Axio Holdings LLC and Axion Acquisition Corp., called off their previously announced merger. The merger fell through because the debt financing was not available. Acxiom(NASDAQ: ACXM), provides skip tracing and other information management technologies to credit grantors, collectors and a wide variety of firms.

The company’s stock price has dropped from $28 a couple of days after the May 16 merger announcement to just over $12 now.

The company also announced that it has nominated Kevin M. Twomey to its board of directors. Twomey has served in various senior executive positions, including president of The St. Joe Company from 1999 until his retirement in 2006. Twomey currently serves as a member of the board of directors of PartnerRe Ltd. If elected by Acxiom’s shareholders at the annual meeting December 21, Twomey will fill the board seat that has been held by Rodger Kline since 1975. Kline will continue to serve as chief administrative leader.