IOM to get haircut tomorrow: . .Iomega Chief Executive Resigns
ROY, Utah--(BUSINESS WIRE)--Aug. 19, 1999--Iomega Corporation (NYSE:IOM) announced today that effective August 31, 1999, Jodie Glore will resign as president and chief executive officer of Iomega Corporation.
In resigning, Mr. Glore said that he made this decision 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 added that Iomega has made considerable progress in the 10 months he was president and believes the progress will continue after he leaves. He said that he would be available to the chairman and to the board for whatever advice and counsel they would seek from him. Glore concluded by saying that Iomega has many great employees, customers and suppliers and that they provide a solid foundation for Iomega's future growth.
It is expected that David J. Dunn, chairman of Iomega's board of directors will serve as acting president and CEO until a new CEO is hired. Dunn has been Iomega's chairman since 1980. He is the managing general partner of Idanta Partners Ltd., a venture capital firm, a position he has held since 1971.
ETC. . .
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Personally, I would like to buy some at 2 bucks so I can triple my money when IBM, Seagate or HWP buys them. Stock is FULL of short positions. . . could see short covering profit taking after the decline for near-term. . but I would only be interested in establishing a very very long term position. . based on products. Remember this is a black ball'd company. . .nobody wants it anymore.
Rande Is |
