Financially-troubled PC utilities software company Quarterdeck Corp announced that Curt Hessler has resigned as president, CEO and director. The Marina Del Rey company said the move was done to both further the cost reduction program Hessler initiated last month and to enable him to devote more time to corporate projects as an advisor to the company and the board. Hessler said he decided to step down to aid in the reduction of management costs, which he believes should start at the top, and that he could serve the company more cost-effectively in an advisory role. The company insists that the unusual move was Hessler’s decision and that there were no other forces at work behind it. A spokesperson said that Hessler’s wealth of experience (and hefty paycheck) was a good fit for the company when he joined, with revenues coming in at over $100m. Now, said the spokesperson, the search is on for someone with the experience and salary requirements of someone that would run a $40m company. It’s not clear whether Quarterdeck plans on seeing a further slip in revenues, but for the 12 months to date it’s booked revenue of $70.3m. The company has appointed board member King Lee as interim president, assisted by an executive committee of the board, while it searches for a new CEO. Lee is president of an executive management consulting firm and has 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 weak revenues and an operating loss for the June quarter, blaming recent low industry-wide sales for PC utility products in US and European retail channels. Quarterdeck would not comment on specific restructuring action, including job cuts, and promises that it will detail its cost reduction actions at the scheduled July 30 release of financial results for the quarter ended June 30.
