Borders Online President Quits to Join Dell

Borders Group Inc., the No. 2 U.S. book retailer, said the president of its online division, Cedric Vanzura, resigned. Vanzura said he’s leaving to take an Internet-related job with Dell Computer Corp. The departure comes three months after the resignation of Philip Pfeffer as Borders chief executive. The company is searching for a new CEO. Vanzura, 35, joined Borders in 1994 and was named president of Borders Online in April. He will remain on the job until mid-August. Borders, which introduced Borders.com in June 1998, is lagging larger rivals Amazon.com Inc. and Barnesandnoble.com Inc. in online book sales. Vanzura’s departure illustrates a growing challenge facing retailers as they try to hold on to talented Internet professionals, analysts said. Vanzura, who declined to say what his exact job will be at Dell, noted that he’s leaving Borders at a time when much of its plans for the online business are already in place. Borders also estimated second-quarter sales at stores open at least a year rose about 4.4% at Borders superstores and fell about 1.9% at its Waldenbooks chain. Borders.com sales rose about sevenfold to $3.3 million, the company said. Borders shares fell 25 cents to close at $14.19 on the New York Stock Exchange.