NIC board ousts Dodd, reinstalls Fraser as CEO
Because the company is not returning to profitability quickly enough, James Dodd has been removed as CEO of National Information Consortium Inc. Jeffrey Fraser returns to the post.
James Dodd has been removed as the chief executive officer of National Information Consortium Inc. by the board of directors, because the company is not returning to profitability quickly enough, NIC spokesman Chris Neff said May 20.
In his place, the company's board of directors has appointed Jeffrey Fraser to serve as its new chief executive officer, the company said May 17.
Dodd, who served as CEO from 1999 to 2002, is still formulating his future plans, Neff said. Dodd left the company May 16.
Fraser, a co-founder and chairman of Overland Park, Kan.-based NIC, previously served as CEO from 1992 to 1999. He led the company through its initial public offering in 1999, and the company grew between 50 percent and 200 percent a year during his tenure, Fraser told analysts and investors in a May 20 conference call.
Fraser said NIC remains on track to meet previously stated goals, including 35 percent to 40 percent top-line growth each quarter this year and earnings per share profitability by the fourth quarter.
"NIC's board of directors has challenged me to increase shareholder value by accelerating our return to profitability. ... and I'm confident that we can deliver," said Fraser in a written statement announcing the leadership change.