Iomega Names Bruce R. Albertson President and COO; Albertson to Become CEO of Iomega in January 2000
BusinessWire, Thursday, November 11, 1999 at 21:51
ROY, Utah--(BUSINESS WIRE)--Nov. 11, 1999--The board of directors
of Iomega Corporation (NYSE:IOM) today announced that, effective
immediately, Bruce Albertson, 53, will become president and chief
operating officer, as well as a director, of the Company. Mr.
Albertson served General Electric Company ("GE") in various senior
sales and marketing capacities for more than 25 years, most recently
as vice president, worldwide marketing and product management, GE
Appliances. From 1993 until his retirement in mid-1998, Mr. Albertson
also was an officer of GE.
The Company announced that, following the release of fourth
quarter and year-end results in January 2000, Iomega's board of
directors expects to appoint Mr. Albertson as chief executive officer.
Until then, David Dunn, chairman of the Company's board of directors,
will continue to serve as chief executive officer, working on the
initiatives he introduced upon assuming the role of CEO.
"We are committed to building a world-class team at Iomega," said
Mr. Dunn. "Bruce is a branding and marketing expert who boasts a
tremendous track record of building brand equity and growing global
businesses profitably. Bruce led critical initiatives that grew GE's
brands and products worldwide. Bruce's skills complement Iomega's
strategy of continuing our worldwide leadership in smart, portable
storage products. I look forward to working closely with Bruce during
this transition to build on our recent progress and accelerate
Iomega's growth strategy."
Mr. Albertson began his career at GE in 1973. During his tenure
at GE, he led several key growth and brand-building initiatives. From
1992 to 1996, he spearheaded GE Appliances' move into Asia. He
developed this into an enterprise that was contributing significant
volumes and profits to the GE Appliances division. In addition, Mr.
Albertson developed and implemented management practices that grew
markets while minimizing infrastructure. In 1996, he was promoted to
vice president, worldwide marketing and product management, GE
Appliances, where he was responsible for the division's worldwide
marketing efforts. In this role, he developed GE's "Profile Plus"
which further extended GE Appliances into the high-end appliance
market. Previously, in 1993, he had launched the "Profile" brand, one
of the fastest-growing brands in the appliance industry. Mr. Albertson
also led GE's entrance into the private label/original equipment
manufacturer business that increased GE's appliance market share and
generated significant volumes from Sears and Roebuck.
"I am joining Iomega because there is an incredible opportunity
to grow the Company's products and brand worldwide," said Albertson.
"This is a winning proposition at a compelling company that possesses
the qualities of a world class organization. It has extremely
successful products, a powerful brand, commitment to global growth and
strong Six Sigma and e-commerce initiatives. I believe Iomega is
poised to achieve sustained profitability and continued growth. I plan
to continue Iomega's strategy to maintain our position as a leader in
smart, portable storage solutions and to achieve sustained
profitability by producing, marketing and supporting solutions our
customers want and need."
Mr. Albertson attended the University of Miami and was awarded a
Bachelor of Business Administration degree in 1971. In 1973, he
received a Masters degree in business from Florida International
University.
About Iomega Corporation
Iomega Corporation (NYSE:IOM) manufactures and markets the
award-winning Zip(R), Jaz(R) and Clik!(TM) drives and disks and the
ZipCD(TM) CD-RW drives and discs that help people to organize, manage,
create, exchange and share their important information. Used in homes,
businesses, government, education and by creative professionals
everywhere, Iomega storage solutions are the enabling technologies
preferred by millions. The Company can be reached at 1-800-MY-STUFF
(800-697-8833), or on the Web at iomega.com.
Note to Editors: The following trademarks of Iomega Corporation
are registered in the U.S. Patent and Trademark Office and in other
countries: Iomega, Zip and Jaz. Some other marks, which may be
registered in some countries, are Zip 100, Zip 250, Clik! and ZipCD.
Certain other product names, brand names and company names may be
trademarks or designations of their respective owners.
CONTACT: Iomega Corporation
Angelina Beitia, 801/332-3790
beitia@iomega.com
Tracy Welch, 801/332-3112 (Analyst/Investors)
welcht@iomega.com
or
Abernathy MacGregor Frank
Carina Thate/Jason Thompson, 212/371-5999
cct@abmac.com
jft@abmac.com
KEYWORD: UTAH
INDUSTRY KEYWORD: HARDWARE MANAGEMENT CHANGES
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
Copyright 1999, Business Wire |
