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Iomega CEO quits after ten months at helm

Glore resigns to spend more time with family

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Iomega president and CEO Jodie Glore is bailing out of the troubled storage specialist less than a year after he climbed on board. His reason? To spend more time with his family, a euphemism much used by British politicos forced to resign in disgrace. That's not the case here: certainly Iomega's board was quick to state it is in no way dissatisfied with Glore's performance. And he isn't rushing off to another job -- he will continue to act as an advisor to the board while it finds a replacement. Chairman David Dunn will take on the role of president until a replacement for that post is found. Glore joined Iomega last October charged with returning the company to profitability, with some success. During his tenure the storage specialist underwent the usual streamlining required by almost all companies that have grown far too quickly. He also oversaw the release of the long-awaited 40MB Clik! drive and, more recently, Iomega's first CD-RW product, the ZipCD. The financial picture has improved. Iomega is still losing money, but it has already accounted for much of the cost of Glore's restructuring programme. That should begin to pay off in the current and future quarters. The snag, however, is that the company seems to have lost the innovation ball. It's most recent product, the ZipCD, is based on technology it didn't develop, and there's nothing coming down the line to replace the ageing Zip and Jaz removable storage lines. Sales of Jaz drives are falling off considerably, now that regrettable CD and CD-RW have become so cheap, and Iomega desperately needs some solid, money-making products to not only fill the gap, but push the company back into profitability. ®

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