Larry Asche, Chairman and Chief Executive Officer, and Diane Asche, Vice President and Secretary, will separate from Asche, the effective date of which has yet to be determined. An executive committee of outside directors will assume their management duties until replacements are named.
Published reports indicate that some other people were let go as well, but a company spokesperson could not confirm this.
The announcement follows the departure of the company's president at the end of December and the firing of a controller last month who allegedly stole about $62,000 from the company. A company spokesman said there was no relation between the Asches leaving and the previous departures.