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Technology Stocks : The Learning Company (TLC)

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To: Trader Dave who wrote (5867)10/12/1998 11:06:00 AM
From: Thomas C. Donald   of 6318
 
Christopher K. McLeod Resigns as Vice Chairman and Director at Cendant Corporation

McLeod to Remain as CEO of Cendant Software Until Consumer Software Unit is Sold

PARSIPPANY, N.J., Oct. 12 /PRNewswire/ -- Cendant Corporation (NYSE:CD) today announced that Christopher K. McLeod has resigned as a vice chairman of the Company and as a director on the Company's board, effective immediately. Mr. McLeod, 42, has served as a vice chairman of the Company since December 1997 and as a director since 1995. He is expected to stay on as the CEO of Cendant Software until the sale of the Company's consumer software business, anticipated in early 1999.

The Company previously announced that it had engaged Credit Suisse First Boston to analyze strategic alternatives in regard to the potential 100% IPO or third party sale of its entire consumer software business unit which includes Knowledge Adventure, Blizzard Entertainment, Davidson Associates and Sierra On-Line.
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