Iomega chief throws in towel

Glore to Iomega: It's your stuff, not mine. He resigns in order to take first vacation in three years.

Jodie Glore, president and chief executive of troubled storage firm Iomega, resigned Thursday following a rocky year for the Zip drive maker.

The popularity of recordable and rewriteable CD-ROMs has seen sales of the company's once cutting edge drives and disks plummet. Losses in the second quarter led Iomega to cut up to 10 percent of its workforce.

Glore cited personal reasons for his resignation, saying he would take his first holiday for three years. It is expected David Dunn, chairman of Iomega's board of directors, will serve as acting president until a replacement is found.

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