Iomega Chief Executive Heid Resigns - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News

Iomega Chief Executive Heid Resigns

Board chairman Stephen N. David was appointed interim chief executive. No reason was given for Werner T. Heid's departure.

Iomega Corp. on Friday said Werner T. Heid, president and chief executive of the storage-device maker, has resigned. No reason was given for his departure.

The San Diego-based company said Heid's resignation followed discussions with the board of directors. Board chairman Stephen N. David was appointed chief executive on an interim basis.

In announcing the resignation, David said in a statement that moving the company "to new market segments and innovative products has been a very difficult management challenge, and Werner has provided leadership to guide Iomega through this restructuring and reorientation phase."

The board, however, now feels that the company "must refocus on its future strategy, with the key need for a strengthened business plan that can better enable Iomega to deliver higher margin product solutions and consistent profitability."

Last month, Iomega reported a significant drop in revenues in the fourth quarter due to lower sales of Zip drives and Mini USB flash drives. Sales in the quarter dropped $19.6 million from the same period a year ago to $70 million. Profits fell to $1.9 million from $3.8 million in the same quarter in 2004.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
The State of Cloud Computing - Fall 2020
The State of Cloud Computing - Fall 2020
Download this report to compare how cloud usage and spending patterns have changed in 2020, and how respondents think they'll evolve over the next two years.
Slideshows
10 Ways to Transition Traditional IT Talent to Cloud Talent
Lisa Morgan, Freelance Writer,  11/23/2020
News
What Comes Next for the COVID-19 Computing Consortium
Joao-Pierre S. Ruth, Senior Writer,  11/24/2020
News
Top 10 Data and Analytics Trends for 2021
Jessica Davis, Senior Editor, Enterprise Apps,  11/13/2020
Register for InformationWeek Newsletters
Video
Current Issue
Why Chatbots Are So Popular Right Now
In this IT Trend Report, you will learn more about why chatbots are gaining traction within businesses, particularly while a pandemic is impacting the world.
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll