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Ex-Rockwell executive to take helm of Iomega

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A former senior vice president at Rockwell International Thursday was named the new president and chief executive officer of Iomega Corp.

Jodie K. Glore replaces interim president and CEO James E. Sierk, who will remain as a director of the computer peripherals company.Sierk was named to the post last March when president and chief executive officer Kim Edwards abruptly resigned after the company announced it had lost $25 million in the first quarter.

Since then, Iomega, the maker of the Jaz and Zip removable data-storage systems for personal computers, has continued to struggle in the marketplace. Last week, it announced a $14.8 million loss in the third quarter and losses totaling more than $73 million year-to-date.

That compares with earnings of $79 million in the first nine months of 1997. The company laid off 700 of its 5,000-person workforce this summer.

In early trading on the New York Stock Exchange Friday, traders reacted positively to Glore's appointment, pushing the company's shares up 16.67 percent to $4.81.

Glore, 51, joins Iomega after leaving Rockwell Automation, a subsidiary of Rockwell International, as its former chief operating officer and president.

Iomega chairman David Dunn said Glore brings leadership, experience and understanding of the technology to Iomega.

"Most importantly, his record of profitably growing Rockwell Automation from $2.1 billion to $4.5 billion in just four years makes him an ideal person to lead Iomega into the next millennium," Dunn said.

Rockwell Automation, located in Milwaukee, manufactures industrial automation products, including electric motors, mechanically powered transmission equipment, sensors and industrial software.