In a reshuffling aimed at bolstering its sagging earnings, Archive Corp.'s founder has resigned from the presidency of the Costa Mesa data-storage systems company.
D. Howard Lewis said in a prepared statement that he will become chairman and chief executive of the company he started in 1980 and that J. Peter Wilson, a Silicon Valley computer executive, will become Archive's new president.
Lewis, 49, attributed the move to a need for additional management expertise to handle the company's rapid growth. Archive has had an increase in revenues but a decline in net income for the last two quarters.
"The company has grown to a size where we've restructured the top level of management a bit to handle the growth," said Joseph Martin, vice president of finance. Revenues for the current quarter are expected to increase to about $18 million, according to Martin. He said Wilson would concentrate on running the company on a day-to-day basis, while Lewis would spend more time on strategic planning and investor relations.