TITLE

New chief strives to bring IRI into tech world of today

AUTHOR(S)
Cohen, Deborah L.
PUB. DATE
November 1999
SOURCE
Advertising Age;11/8/1999, Vol. 70 Issue 46, p52
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports on the plan of Joseph P. Durrett, CEO of Information Resources Inc. (IRI), to reorganize the retail technology provider's operations in the U.S. in 1999. Analysts estimate the business overhaul could result in the elimination of 400 jobs, or 10% of the 4,000-person U.S. workforce of IRI. Beyond cost-cutting, Durrett faces the problem of spurring growth as a supplier to the consumer products industry. As of November 1999, stock price of IRI is placed at $11, a decline from a high near $40 in late 1993. However, sales have improved, rising 12% in 1998 to $511.3 million. Still unresolved is the outcome of a 1996 antitrust lawsuit filed by IRI against Nielsen that charges anticompetitive practices, primarily in Europe. IRI is seeking damages of $350 million, which could be tripled under antitrust statutes.
ACCESSION #
2459339

 

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