today announced that Tim Hill, vice president, worldwide
marketing and sales, has resigned to become vice president of marketing for
Software AG Americas
, a privately held
A search is being conducted to replace both Hill and Michael Collins,
senior director of marketing, who also resigned to join Hill at Software AG
In the interim, Iomega has named Jeff Jeter, senior director, market
development and new business, as acting director of marketing. Jeter was last
Analysts were optimistic that Iomega can successfully navigate losing two
key members of its marketing department.
Rick Berry, an analyst with Murphey, Marsilles, and Smith, was confident that Iomega's product, which includes Zip drives, Jaz 1GB drives, and Ditto tape backup drives, can find a market independent of the department turnovers.
"Perhaps [Hill and Collins] felt they took the company as far as they
could in terms of a niche product. I give them a lot of credit: They
dominate what they do," Berry said.
Other analysts agreed that Iomega has the structure in place to make the
"I see no short-term repercussions," said Todd Bakar, analyst with
Hambrecht and Quist," They do have a strong marketing organization, but
only time will tell."