palmOne CEO Resigns

Just in from Reuters… (thanks Andrew!)

SEATTLE, Jan 24 (Reuters) – PalmOne Inc. (PLMO.O: Quote, Profile, Research) said on Monday that chief executive Todd Bradley will step down next month, triggering an 11-percent drop in the handheld computer maker’s shares.

Current PalmOne president Ed Colligan, 43, will become interim CEO until a replacement is found, the Milpitas, California, company said in a statement.

Bradley’s resignation, which will be effective at the end of the company’s current quarter on Feb. 25, triggered a drop in PalmOne shares in after-hours trade to $23.70, down 10.9 percent from their Nasdaq close of $26.59. [Reuters]

Leave a Reply