Infocrossing Director Leaves

Infocrossing (IFOX Quote) said Michael B. Targoff resigned as a director, citing a role elsewhere.

In November, Targoff was named nonexecutive vice chairman at Loral (LORL Quote). As a result of his new responsibilities at Loral, Targoff decided to resign as a director of Infocrossing as well as a director of another public company, Infocrossing said. It said there were no disagreements between Targoff and Infocrossing.

The Leonia, N.J., information technology outfit said Targoff had been a member of the board's executive and options-and-compensation committees.

"We appreciate Mr. Targoff's service as a director of Infocrossing over the past four and one half years," said CEO Zach Lonstein. "He was instrumental in the dramatic growth of the Company since 2001, and we expect he will be instrumental in guiding the growth of Loral. We wish him great success in his new role."

On Friday, Infocrossing fell a nickel to $9.80.