Merisel President-COO Illson Steps Down

Computer hardware and software distributor Merisel Inc. said James E. Illson has resigned as president and chief operating officer, and as a member of the El Segundo-based company’s board. No reason for his departure was given. Last month, Merisel said it expected to report a larger fourth-quarter loss than anticipated and intended to cut 400 jobs, or about 15% of its work force. The company said it expects to report a loss of 15 cents to 20 cents a share, before year-end adjustments and special charges, for the last quarter of 1999. The analysts’ consensus was a loss of 7 cents a share. Illson joined Merisel in August 1996 as senior vice president of finance and chief financial officer; he was promoted to president and chief operating officer in August 1998. Merisel said it has no plans to replace Illson. Under Chairman and Chief Executive Dwight Steffensen, Merisel will operate two North American businesses led by Ron Smith, president of North American distribution, and William Page, general manager of the Merisel Open Computing Alliance division. Illson’s announcement was made after the close of markets. Merisel stock was unchanged at $1.38 on Nasdaq.