SystemSoft Corp, which last week announced that it had retained an investment bank to help find a buyer for the troubled PC card and BIOS business, said that founder Robert Angelo has stepped down as chairman of the board effective immediately. The company claimed that in light of the company’s recent financial downturn and its search for a strategic partner, its interests are best served by new chief executive Frank Sola. Angelo, who founded the company in 1990 and grew it from a privately-held start-up to a $40m business, has agreed to an interim consulting agreement with SystemSoft under which he will assist Sola with strategic matters on an as-needed basis.
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