ComputerLand Management Shakeup; Founder Out
OAKLAND, Calif. (AP) _ The father-daughter team of William and Barbara Millard are no longer at the helm of ComputerLand Corp., the nation’s largest chain of computer retailers, in a move considered a victory for the company’s franchisees.
The elder Millard stepped down as chief executive of the privately owned company Monday and his daughter resigned her post as president and chief operating officer. That effectively took them out of the day-to-day operations of the firm.
ComputerLand vice chairman Edward Faber, who previously served 6 years as company president and oversaw some of ComputerLand’s best years, will become president and chief executive officer immediately, company spokesman Glen Udine said. Faber, 52, was in Chicago Monday speaking to a previously scheduled meeting of franchisees.
″I acknowledge you are the reason for me being back at Computerland,″ he told the dissident franchisees.
″I think it’s going to have a very positive, visible effect on the corporate operation as well as the network of stores,″ said Udine. He said Faber, unlike the Millards, has the ″confidence″ of ComputerLand’s franchisees.
″Last week, things came to a head,″ said Barbara Millard, 27, explaining the resignations. ″We needed to take some sort of an action to restore their (franchisees’) confidence.″
William Millard will remain chairman of the company. His daughter also will remain a board member and will become president of IMS Inc., ComputerLand’s holding company.
Chad Hill of the International Association of Computer Dealers, the dissident group of ComputerLand franchisees, praised the management change, but hinted the retailers have other complaints.
″One of the things the franchisees have long been pushing for is a change in top management,″ he said. ″We consider this a step in the right direction.″
The Oakland-based company is still trying to arrange a bonding syndicate to supply $25 million it needs to appeal a March verdict that awarded $141 million and 20 percent of ComputerLand stock to a group of franchisees and others.
Udine said the financing ″is taking longer than we expected,″ but expressed confidence the funds would be available soon.