Iomega CEO Albertson resigns

Storage maker Iomega announced Monday that President and CEO Bruce Albertson has resigned because of disagreements with the company's board of directors. In a statement, Iomega Chairman David J.

Storage maker Iomega announced Monday that President and CEO Bruce Albertson has resigned because of disagreements with the company's board of directors.

In a statement, Iomega Chairman David J. Dunn said Albertson's resignation was "in large part the result of differences between Bruce and the board over the long-term strategic direction of the company."

Dunn added that the board will look for areas to cut expenses and trim unprofitable product lines.

"We expect that there will be some restructuring charges and possible write-offs, but their nature and extent will have to await completion of the board's review," he said. --David Becker, Special to ZDNet News