Following the resignation of Kim Edwards in March, Iomega Corp this week named its new president and chief executive officer. The Roy, Utah company’s board of directors said it has appointed Jodie Glore to the position, replacing interim chief James Sierk. Glore joins Iomega from Rockwell Automation where he was president and CEO as well as serving as corporate senior vice president for Rockwell International Corp. During his time with Rockwell Automation he grew the business from $2.1bn to $4.5bn. I am excited by the opportunity to lead Iomega, Glore said in a statement, we have new products, new markets to conquer, a strong brand and an excellent team. All of which the new CEO will need if he’s to pull the data storage products company back to profitability. Earlier this week (CI No 3,518) Iomega reported a bigger than expected third-quarter net loss of $14.8m compared to profits of $30m for the year ago period. Although the company is still selling millions of its popular zip drive, sales are nonetheless slowly slipping. Revenues were down 9.3% at $391.8m. But despite the loss, which included a one-time acquisition charge of $11.1m, Glore said he was confident he could focus the management team on growth and maintaining the momentum that put over 18 million Zip drives and two million Jaz drives into the market. And top company officials, including interim CEO James Sierk have predicted that Iomega will return to profitability in the fourth quarter of this year. Iomega wouldn’t say whether it was paying Glore in cash or stock.
