Iomega's president and chief executive quit last night, following a rocky twelve months for the Zip drive maker.
Despite the many problems the company has faced over the last year, Jodie Glore said his decision was made for personal reasons and that he is not leaving for another job.
"I expect to take my first vacation in three years and spend time with my family," said Glore.
Glore said he believed Iomega has made considerable progress in the 10 months since he was appointed president and the progress will continue after he leaves.
But losses have actually increased during the last year. Last month Iomega reported a second quarter loss of $47.1 million, compared to $39.9 million a year earlier. It also axed around 10 per cent of it workforce in June. (see Newswire 16 July)
It is expected that David Dunn, chairman of Iomega's board of directors, will serve as acting president and chief executive until a permanent replacement is found.
Glore said he would be available to the chairman and company board for whatever advice they may need.
The company has been badly hit by the emergence of recordable and writeable CD-Roms (CD-RW) technology, which has had a negative affect on sales of its Jaz storage drives and disks.
Delays in the shipment of its Clik! miniature storage, had contributed to losses. Clik!, which was launched almost two yeas ago in the US, only hit UK shelves last week.
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