Resignations Shake Day Runner Board

Day Runner Inc., the long-struggling maker of daily organizers and planners, announced a major shake-up in the board room Thursday.

The Fullerton company said four board members resigned, effective today, including Chairman Mark A. Vidovich.

The beleaguered company said former Chief Executive James E. Freeman also resigned from the board recently. Freeman had resigned as CEO in May after less than two years on the job.

Also resigning were James P. Higgins, who heads a financial consulting firm; Jill Tate Higgins, the company’s largest individual shareholder; and Boyd J. Willat, chief of Willat Writing Instruments.

The firm’s announcement did not elaborate on the resignations. Freeman would not comment and other officials could not be reached.

Vidovich had served as Day Runner’s chief executive for 12 years, presiding over a firm that became a leading U.S. marketer of personal organizers.

When he retired two years ago, Day Runner was still logging record earnings and sales. He remained as chairman. But the company’s acquisition of British rival Filofax Group in the fall of 1998 left Day Runner swimming in debt and high interest costs.

Day Runner said John F. Ausura, who has been serving as interim chief executive, recently was elected to the board. Day Runner’s shares rose 6.5 cents to 94 cents on the OTC Bulletin Board.