David Lorsch is resigning as CEO of DBL Distributing, effective Saturday, Dec. 1.
Lorsch's announcement follows his June decision to sell the distribution business he founded 18 years ago to Ingram Micro. When he sold the company, Lorsch held the dual role of president and CEO, but once the deal closed Henry Chiarelli, formerly DBL's chief merchandising officer, took over as president.
When the deal was first announced, Lorsch told TWICE that he would remain with the company until June 2008.
In an email addressed to "business partners, friends and family," Lorsch said, "The decision to leave DBL is a very difficult decision but it is time for DBL to move on without David Lorsch and for David Lorsch to move on without DBL."
On future plans Lorsch said in his e-mail to "Keep an eye out for our companies DC Genius, Inc. and CFL Technology. We don't quite know what these companies will do yet but I promise you a great encore."
When contacted by TWICE Lorsch said, "let the email speak for itself" and DBL did not comment.
DBL operates as a wholly-owned subsidiary of Ingram Micro and has retained its brand name and business model since being acquired by Ingram Micro for approximately $96 million.