Econometrics Inc., the CRM/database services company, has a new chairman and a new CEO.
Founder Robert McGuire, who was sued by the firm earlier this year, is back as chairman, one of several new members of the reconstituted board. He was asked to return several weeks ago by the founding investors, he said.
The board in one of its first actions has named database veteran Frank Pinizzotto as CEO.
In addition, the board has decided to dismiss the non-compete lawsuit against McGuire and his firm LogicLink. And it is exploring the merger of LogicLink into Econometrics, and possible mergers with other companies, according to McGuire.
McGuire, who owns 28% of Econometrics’ stock, said his goal is to revitalize the company and build shareholder value. The revamped firm will offer a range of analytical services.
Besides McGuire, the reconstituted board includes Pinizzotto, Jeff Goldberg and Stuart Hazlewood. Two seats continue to be held by founding investor Sherer Healthcare.
Pinizzotto previously worked for such companies as Interrelate Inc. and Donnelley.
Econometrics was founded by McGuire in 1991. He resigned from the board in 2000, and shortly thereafter started a new company, LogicLink. Econometrics sued him, alleging among other things that he violated a noncompete agreement.
Asked about the lawsuit, McGuire said, “In my opinion, it was born out of frustration.”
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