Quarterdeck Announces Resignation of ItsCEO and Appointment of Interim President
July 8, 1998 07:33 AM
MARINA DEL REY, Calif.--(BUSINESS WIRE)--July 8, 1998-- Quarterdeck Corp. QDEK Wednesday announced that Curt Hessler has resigned as president, CEO and director, both to further the cost reduction program he initiated last month and to devote more time to corporate projects as an advisor to the company and the board.
"This program aims foremost at reducing management costs, and I strongly believe such efforts should start at the top," said Hessler. "Leading this fine company has been a great privilege, but at this point I can do more at lower cost for Quarterdeck from an advisor role."
The company has appointed King R. Lee, a member of Quarterdeck's board of directors, as interim president, assisted by an executive committee of the board, pending selection of a new CEO. Lee is president of King R. Lee and Associates, an executive management consulting firm and is an experienced industry executive. In addition, Lee previously led Quarterdeck through a restructuring of its worldwide operations.
Last month, the company announced it was implementing a major cost reduction program in light of anticipated weak revenues and an associated operating loss for the June quarter, noting recent low industrywide sales for PC-utility products in U.S. and European retail channels. Quarterdeck will detail its management and cost reduction actions at the scheduled July 30 release of financial results for the quarter ended June 30, 1998.
About Quarterdeck
Quarterdeck is a global leader in the development and marketing of PC helpware -- software designed to prevent and solve PC performance problems, especially those encountered in networked (Internet and intranet) environments. The company's goal is to make personal computing trouble-free for users and network administrators alike, while reducing the need for live technical support.
Quarterdeck's current product line, which addresses storage management, system conflict resolution, virus protection, system updating and enhanced access to networked information and communications resources, is marketed to both end-users and businesses via retail distribution, corporate resellers and OEM's, direct marketing channels, and the Internet.
Quarterdeck's products are available in more than 14,000 outlets throughout the United States and Canada, as well as in more than 29 countries worldwide. Incorporated in 1982 and traded on Nasdaq under the symbol QDEK, Quarterdeck's worldwide headquarters are in Marina del Rey, with European operations based in Dublin, Ireland.
Further information may be obtained by calling 800/683-6696 toll-free, or 573/443-3282; by accessing Quarterdeck's Web site at quarterdeck.com; or by sending e-mail requests to info@quarterdeck.com.
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