Five ACS Board Members Resign After Feud with Chairman

By Sharon Linsenbach  |  Posted 2007-11-02 Email Print this article Print
 
 
 
 
 
 
 

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ACS board members and Chairman Darwin Deason trade barbs in public letters obtained by the Wall Street Journal. (eWEEK.com)

Affiliated Computer Services, caught in a bitter battle between members of the company's board and its chairman, said in a statement Nov. 1 that five board members had resigned after initially refusing to do so.

Darwin Deason, chairman and founder of outsourcing provider ACS, asked for the five board members' resignations verbally the evening of Nov. 30, board members said, and he asked again on Nov. 1 in a letter obtained by the Wall Street Journal.

Deason claimed in the letter that company shareholders no longer trusted the five-member board of independent directors.

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In March of 2007, Deason and Cerberus Capital Management, a private equity firm, made a bid to purchase ACS, based in Dallas, for $8.2 billion. The board created a special committee to evaluate Cerberus' offer, but ultimately rejected the bid as too low. Unisys, another potential buyer, according to sources briefed on the matter, was derided by Deason as not being a serious bidder.

Read the full story on eWEEK.com: Five ACS Board Members Resign After Feud with Chairman

 
 
 
 
Sharon Linsenbach Sharon Linsenbach is a staff writer for eWEEK and eWEEK Channel Insider. Prior to joining Ziff Davis, Sharon was Assistant Managing Editor for CRN, a weekly magazine for PC and technology resellers. Before joining CRN, Sharon was an Acquisitions Editor for The Coriolis Group and later, Editorial Director with Paraglyph Press, both in Scottsdale, AZ. She holds a BA in English from Drew University and lives in the Philadelphia suburbs with her significant other and two neurotic cats. When she's not reading or writing about technology, Sharon enjoys yoga, knitting, traveling and live music. Sharon can be reached at Sharon.Linsenbach@ziffdavisenterprise.com.
 
 
 
 
 
























 
 
 
 
 
 

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