Vobis chairman quits

Vobis chairman Theo Lieven is standing down to make way for his deputy, Gert Huegler.

Lieven's departure is a blow to the German PC maker which has maintained profitability despite a plunging local economy that helped put its former arch-rival out business earlier this year.

Lieven, who founded Vobis in the 1970s, is setting up a chain of stores selling classical music CDs, according to a report in the Wall Street Journal.