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Artisoft struggles, loses president

Artisoft, a struggling network software maker that has seen sales drop for its core product, says its president has resigned.

Artisoft (ASFT), a struggling network software maker that has seen sales drop for its core product, today said its president has resigned.

Joel Kocher, who joined the company two years ago, will be joining Power Computing as as President and Chief Operating Officer as of Tuesday. The current Power Computing CEO Stephen Kahng will become chairman of the Macintosh clone manufacturer and Enzo Torresi will move from the chairmanship to vice-chairmanship, a Power Computing spokesperson said.

William Keiper, Artisoft chairman and chief executive, will now assume the additional title of president.

Artisoft in September announced a 15 percent cut in its workforce, as sales slowed for its LANtastic product. LANtastic, a small-office network operating system, has been sluggish since it released its version 7 last summer.

The company has been trying to redirect its business to remote communications, networking, and telephony products for more than a year. Although it purchased three companies that focus in these areas, it still receives 70 percent of its revenues from its LANtastic product.

Artisoft has been trying to bolster its balance sheet, which reported a net loss for the year that tripled to $18.3 million, compared with the previous year. Its annual revenues dropped 27.5 percent to $61 million, compared with the year earlier.