palmOne Announces Leadership Transition, CEO Resigns

Posted By: Ryan Monday, January 24, 2005 1:21:27 PM

palmOne today announced that its chief executive officer, Todd Bradley, has resigned, effective at the end of the quarter. Bradley will remain with the company in an advisory role through May, the end of the fiscal year, to ensure a smooth transition. Ed Colligan, the company's president, will assume the role of interim CEO while a search is conducted for Bradley's permanent replacement. Colligan is a candidate for the permanent position.

"I've accomplished what I set out to do," Bradley said. "The company is on a growth path, our product portfolio is exciting and competitive, and I have great confidence in the company's current and future prospects. palmOne has an excellent management team and talented employees to carry the business forward. I feel the time is right for me to move on to another challenge."

Eric Benhamou, palmOne chairman of the board of directors, thanked Bradley for his contributions, which include restoring a sound financial foundation, overseeing the return to revenue growth and profitability, introducing innovative handheld-computing products and driving the acquisition and integration of smartphone maker Handspring, Inc.

"Todd has accomplished his mission, and we thank him for the contributions he made in steady financial improvements, in bringing innovation to the product roadmap and in pursuing the right strategic objectives, including the acquisition of Handspring," Benhamou said. "The company now is positioned for profitable growth and success. We respect Todd's desire to move upon completion of this key milestone, and appreciate his willingness to support the company through the transition to its next CEO."

Handspring Treo 600 NYC Launch coverage ~ Click for Larger ImagepalmOne President Ed Colligan, 43, will assume the chief executive officer role on an interim basis at the beginning of the company's fourth fiscal quarter. Colligan has had a broad array of marketing, sales, product-development and general-management experience through his 20 years in the technology business.

"Ed is responsible for bringing to market category-defining handheld-computing and communications products, including the widely acknowledged, category-leading Treo(TM) family of smartphones. He has provided outstanding leadership to palmOne, first as general manager of the Wireless Business Unit and then as president of palmOne," Benhamou said. "I have every confidence that he and Todd will collaborate for a smooth transition."

Bradley, 46, will remain as chief executive officer until the current fiscal quarter ends Feb. 25, and he will remain in an advisory role with the company through the fiscal year end. He joined Palm, Inc. in June 2001 as chief operating officer of Palm Solutions Group and was promoted to president of Palm Solutions Group in May 2002. He became president and chief executive officer of palmOne, Inc. in October 2003 when Palm, Inc. spun off PalmSource, the operating-system business, and acquired Handspring, Inc.

Colligan, formerly president and chief operating officer of Handspring, Inc., joined palmOne, Inc. as senior vice president and general manager of the Wireless Business Unit in October 2003 upon the acquisition of Handspring. He was named president in June 2004.

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I guess Handspring bought Palm after all

Rome @ 1/24/2005 4:35:08 PM # Q
What comes around goes around....the original Palm team is back in charge..

RE: I guess Handspring bought Palm after all
LiveFaith @ 1/25/2005 11:17:39 AM # Q
Well, what my source told me was that he angered everyone in an important meeting when his T5 alarms kept going off. He stated that it had no vibra-alarm. The Board started pushing him out at that point. Can't confirm that tho. :-o

Pat Horne; www.churchoflivingfaith.com
Quiter
ray00pal @ 1/26/2005 11:56:19 AM # Q
I am glad that he is able to keep up with his quiter reputation.

RE: I guess Handspring bought Palm after all
The_Voice_of_Reason @ 1/26/2005 10:52:19 PM # Q
The books are in the oven, and the timer's been set. Palm's next quarterly statement should show a sorry tale of borrowing from Peter to pay Paul.

Treo 650 isn't saving the company and Palm's regular PDAs are underwhelming. The company had its chance but blew it in 2004. Now it's just a matter of playing out the string. The Wall Street curs will smell blood soon enough and "The Netscaping of Palm" will draw to its now-inevitable tragic conclusion.

If you like PalmOS and plan to keep using it over the next few years, stock up on those T3, CLIE, etc. before April 2005. This is gonna get ugly.


******************************************************************
Sony CLIE UX100: 128 MB real RAM, OLED screen. All the PDA anyone really ever wanted.

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Ted - windows!

temp_user @ 1/24/2005 4:56:49 PM # Q
Hopefully it was Ted's idea to go windows, and now we've got rid of that stupid idea! (kidding!)

I would have rather wanted to see Nagel leaving!

RE: Ted - windows!
temp_user @ 1/24/2005 5:07:50 PM # Q
Todd, sorry not Ted!

RE: Ted - windows!
Foo Fighter @ 1/24/2005 5:22:28 PM # Q
Go Windows? What do you mean?

-------------------------------
Editor, http://Pocketfactory.com
Contributing Editor, http://digitalmediathoughts.com
RE: Ted - windows!
Foo Fighter @ 1/24/2005 5:23:09 PM # Q
Oh I see. You've got your "Palms" confused. PalmSource made that decision, not PalmOne.

-------------------------------
Editor, http://Pocketfactory.com
Contributing Editor, http://digitalmediathoughts.com
RE: Todd - windows!
temp_user @ 1/24/2005 5:43:04 PM # Q
Foo,
As I wrote, I was kidding!
What I meant with "go windows" is the rumour about palmone licensing Windows Pocket.



RE: Todd - windows!
temp_user @ 1/24/2005 5:54:43 PM # Q
Your second post confuses me though! What has palmsource got to do with this?
Anyhow, never mind, I suspect a misunderstanding!


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Back to Borgville

mikecane @ 1/24/2005 5:23:20 PM # Q
"I've accomplished what I set out to do," Bradley said. "Now I will go to Microsoft where I can *really* complete my mission of totally destroying palmOne."

RE: Back to Borgville
Foo Fighter @ 1/24/2005 5:28:24 PM # Q
And now Colligan is at the helm? Oh my. My oh my oh my.

-------------------------------
Editor, http://Pocketfactory.com
Contributing Editor, http://digitalmediathoughts.com
RE: Back to Borgville
mikecane @ 1/24/2005 6:02:37 PM # Q
I've met Ed. I've spoken to Ed. Ed is a nice guy.

>>suddenly recalling The Nice Guys Finish... cliche<<

Abandon ship!

RE: Back to Borgville
jkirvin @ 1/25/2005 3:03:49 AM # Q
I just posted about this on my site. This is the best news to come out of PalmOne in quite a while. Welcome back, Ed.

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New leadership=new changes hopefully

Frenchie @ 1/24/2005 5:24:52 PM # Q
Lets hope we don't have any microsoft spies in palmone and maybe we can begin to see devices that will compete well against pocket pcs.

hopefully is the keyword here

The world will end in 2006. Just as it was predicted in the bible along with the release of Microsoft Longhorn.... :p

RE: New leadership=new changes hopefully
LiveFaith @ 1/25/2005 11:51:31 AM # Q
Microsoft spies @ PalmOne? I think MS is probably trying to build a nice bridge over there, so that they can get in the door honestly and crush every last vestige of Palmsource.

Pat Horne; www.churchoflivingfaith.com
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PalmOne stock getting slammed after hours on the news...

TwinTurbo @ 1/24/2005 5:24:22 PM # Q
The market sure doesn't like this news. PLMO is taking a beating in after hours trading. Down around 11%. The stock was already in "technical" trouble if it broke down under $25. Currently trading in the $23 range after hours. Doesn't look good short term. It will be interesting to see how it opens tomorrow. It's went from $46 to $26 in just 2 months time. Not good.

RE: PalmOne stock getting slammed after hours on the news...
mikecane @ 1/24/2005 5:58:15 PM # Q
Good. I hope that guy who was here a few weeks ago bragging about how much he had been making from the stock had to sell his house to cover his losses. Fool.

RE: PalmOne stock getting slammed after hours on the news...
TwinTurbo @ 1/24/2005 6:13:27 PM # Q
Well I don't own any shares but feel bad for anyone who does. The chart on PLMO looks like crap. It could head back below $20 soon if it doesn't hold up tomorrow. CFO and CEO are out. The Market doesn't like uncertainty and is responding appropriately. It's probably a good thing long term, but Benhamou is still on the board so who knows. That guy is a complete fool. Many probably feel the old Handspring team will save the day but I don't see it. Their magic ran out a long time ago. The company just seems out of touch with what customers really want, especially large corporate customers. This is where RIM has really enjoyed success and where Microsoft is also killing them.

PLMO worth ~$2/share...RIM cleaned up...
pkuhns @ 1/25/2005 10:26:20 AM # Q
Earth to Palm fanatics (me included): walk around the office. What are ALL managers, ALL CEOs, ALL finance people, and ALL IT people using these days. Everyone in business is using the RIM.

What's amazing is the lack of decent software for the RIM, yet it has conquered Palm. No one can touch them right now. As long as Exchange Server rules the roost, RIM will rule pocket pinball. The only place I ever see Palm OS is in old Symbol barcode scanners at the stadiums. And in 19 year old girls' schoolbags. Palm screwed up with the biz set. Now their stock is approaching penny status.

-- Buy on rumor, sell on news...

NX70 addict...

RE: PalmOne stock getting slammed after hours on the news...
mikecane @ 1/25/2005 11:05:16 AM # Q
Among the Great Unwashed, I am seeing more Sidekicks than I ever imagined had been sold...

RE: PalmOne stock getting slammed after hours on the news...
acidreflux @ 1/26/2005 1:31:12 AM # Q
I agree with the statement about what a lot of corporate employees seem to be using (especially lately where I work), but I recently saw a satistic that RIM was really still a very small percentage of users compared to MS and P1 operated PDA's. I wouldn't bank on your observations alone.
RE: PalmOne stock getting slammed after hours on the news...
palmhiker @ 1/26/2005 1:32:58 PM # Q
"Earth to Palm fanatics (me included): walk around the office. What are ALL managers, ALL CEOs, ALL finance people, and ALL IT people using these days. Everyone in business is using the RIM."

Not so fast. The Treo 600/650 is beginning to show up with a lot of these same people. The ones I know who are using Blackberries complain constantly about them.

At CES a few weeks back, I think 1 out 3 attendees had a Treo (of course 1 out of 3 also had a crackberry, but the Treo is holding its own for the moment.)

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Note to Colligan: **WIFI** is wireless too!

mikecane @ 1/24/2005 5:59:07 PM # Q
"Todd was an operations guy...PalmOne needs fresh leadership with the right vision to lead PalmOne into the wireless future," said Pablo Perez-Fernandez, a research analyst at Stanford Financial Group. "Colligan is considered to be very knowledgeable about wireless."

http://news.com.com/PalmOne+CEO+to+step+down/2100-1041_3-5548329.html?tag=nefd.lede

I hope Ed doesn't have his eyes myopically focused on TELCOS.

Ed, go read your tech history! Once upon a time there was The Source and CompuServe and entrenched fat-assed companies that thought everyone would go to THEM to get their digital info online in NAPLPS format. No one paid any attention to these "little things" called BBSes. Guess what? Websites are nothing BUT BBSes of old!

Suck up to telcos at your own doom.

RE: Note to Colligan: **WIFI** is wireless too!
mikecane @ 1/24/2005 6:23:47 PM # Q
Ed:

http://news.yahoo.com/news?tmpl=story&cid=572&u=/nm/20050124/lf_nm/people_goldstein_dc_4&printer=1

Forewarned is forearmed.

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Pushed Out

Gekko @ 1/24/2005 6:40:23 PM # Q

Now the 3 Pigs can REALLY milk this tit dry.



RE: Pushed Out
mikecane @ 1/24/2005 7:15:46 PM # Q
Gekko, I'm surprised you haven't told us how golden a parachute he'll have. Slacking, are you?

I don't like the sound of this...
Masamune @ 1/24/2005 7:20:46 PM # Q
http://news.com.com/PalmOne+CEO+to+step+down/2100-1041_3-5548329.html?tag=nefd.lede

"As a result, Palm has been increasingly focused on its Treo line."

Am I the only person in existance who:
1) still wants a phone to calls with and a PDA to do PDA stuff with (thus keeping them seperate)
2) also wants a juicy 320 x 480 screen
3) DOESN'T WANT A FRIGGING TINY THUMBOARD THAT YOU CAN'T TYPE S*** ON CLOGGING THINGS UP AND HAS BEEN THE BANE OF THE T/W, T/C AND TREO SERIES.

If this is where Palm's headed then their stock will nosedive, they will haemorrage users and I will be stuck the day I can't resurrect my T3 from the dead...

RE: Pushed Out
Gekko @ 1/24/2005 7:24:50 PM # Q
Mr Bradley's departure was the latest sign of trouble at PalmOne. On December 16 the company warned that sales and profit in the current quarter might not meet analysts' estimates. The company reported a notable inventory backlog, particularly in its flagship Treo line of smartphones.

Strong sales of Treo phones had helped offset slow demand for the group's core handheld computer products. PalmOne shares more than doubled in 2004 because of optimism over Treo sales. But analysts said slow sales of older smartphones and sluggish launches of its new Treo 650 suggested demand for the product was slowing.

http://news.ft.com/cms/s/9fc8d0cc-6e56-11d9-a60a-00000e2511c8.html?referrer_id=yahoo&ft_ref=yahoo1&segid=03058

RE: Pushed Out
SeldomVisitor @ 1/24/2005 8:18:01 PM # Q
I personally think the (sell-through) sales of TREO 600s and TREO 650s has NEVER been exciting and I strongly suspect that amazing sell-in result of a few quarters ago that surprised everyone (and that the then-CFO did not sign off on).

Thus I can't agree with much of the details of that article your post quoted.

RE: Pushed Out
rsc1000 @ 1/25/2005 8:32:01 AM # Q
Next results will suck - but the following Q will show strong Treo sales (it'll be available thru multiple carriers by then). Despite what people post here (which nobody listens to and is not indicative of popular sentiment) treo sales will be good. Where they f@cked up was by putting out total crap in the form of the T5 and not having anything thing else on the PDA side to fall back on while transitioning from the treo 600 to the 650.

RE: Pushed Out
Bhalrog @ 1/25/2005 9:06:20 AM # Q
I agree with Masamune and RSC1000. Things don't look good for P1.

I guess Masamune and I are throwbacks for wanted a PDA to do just PDA stuff, and a cell phone for making calls. Bluetooth connectivity is useful, but I would really rather have wi-fi if given the choice.

I hope P1 comes out with a new Tungsten soon; I think that the T5 sales will disappoint far more than anyone expects. While the form factor (apparently, if T|E sales are any indication) appeals to people, I think that there's a lot of people (like me) just waiting for the next Tungsten, or even Zire, device from P1 that has the features we really want. I'll use the wi-fi card if I absolutely have to, but I really won't like it.

I am already considering going PPC as it is, but want to give P1 one last shot, since I really liked my old T2 (I really wish it hadn't crapped out so badly) and my M100 before that.

P1, for the love of God, listen to the people on the boards. It's free market research! We're telling you what people will buy, just give us the features we want already!

RE: Pushed Out
LiveFaith @ 1/25/2005 11:58:02 AM # Q
Bhalrog stated <>

That encouraged me and also sent a shiver of fear down my spine. Market research for what ... an asylum? :-D

Pat Horne; www.churchoflivingfaith.com

RE: Pushed Out
LiveFaith @ 1/25/2005 12:01:31 PM # Q
Actually he stated ... P1, for the love of God, listen to the people on the boards. It's free market research! We're telling you what people will buy, just give us the features we want already!

Sorry

Pat Horne; www.churchoflivingfaith.com

RE: Pushed Out
relyons @ 1/25/2005 12:57:44 PM # Q
LiveFaith stated, "P1, for the love of God, listen to the people on the boards. It's free market research! We're telling you what people will buy, just give us the features we want already!"

Thankfully PalmOne focuses on the expectations of the majority of potential customers instead of the minority of potential customers from this site.

Would PalmOne have produced the Tungsten E if they focused on us? I don't believe so. The Tungsten E's feature set is generally inadequate for us. However, the majority has bought over 1.5 million of them (and counting)

Our expectations are significantly different than the majority's.

RE: Pushed Out
Masamune @ 1/25/2005 3:10:04 PM # Q
I think part of the problem PalmOne has is partly our fault. There are millions of PDA users out there all wanting PDAs for different purposes as demonstrated by PIC. My view is that Palm will be shooting itself in the foot by restricting itself to purely smartphones. Palm will need to keep a line of pure PDAs running alongside the Treo or risk alienating some existing users such as myself and bhalrog.

RE: Pushed Out
Gekko @ 1/25/2005 8:16:10 PM # Q

Do not underestimate the mass market's desire for innovative features and value.



RE: Pushed Out
Bhalrog @ 1/25/2005 9:26:40 PM # Q
Thank you, Masamune and Gekko. All I meant was that there are some features demanded on websites such as PIC that, frankly, are not that unreasonable, e.g. wi-fi. My ideal P1 device is a T3 with built-in wi-fi (I'm okay with losing Bluetooth to do this, although I'd prefer to keep it), the processor in the T5, 128+ MB RAM, and Cobalt OS and accompanying other software (latest version of Docs to Go, and including Bejeweled probably wouldn't go amiss either :) ). I think that a PDA like this would be relatively well received; 320 x 480 VGA screen and/or other improvements would be even better. Most of these features have already been included in past models, or can be implemented without too much strain, I think.

The key is to perform actual improvements to devices. You know, it's like progress. Don't take away features people like (charging light, slider (well, liked by me, anyway), vibrating alert, voice recorder), replace them with less well-liked or hated features (hello, flash memory), and then charge more for the privilege. (See the comments to the review of the T5 for a good overview of where I'm getting this from; note also the discussion re: market research.) It's pretty simple, really; keep what people like and then build on that.

And, finally, like Gekko says, "Do not underestimate the mass market's desire for innovative features and value." Even if they don't use it, most people really like the cool stuff.

PALM APOLOGISTS PAY CLOSE ATTENTION
Gekko @ 1/25/2005 10:24:15 PM # Q
PALM APOLOGISTS PAY CLOSE ATTENTION

Yes - there was a time not too long ago when the Palm Apologists said

"Hi-Res? - Who needs it - it only wastes battery power, increases costs, and ONLY YOU POWER USERS WANT IT - THE MASS MARKET DOES NOT."

"Color?- Who needs it - it only wastes battery power, increases costs, and ONLY YOU POWER USERS WANT IT - THE MASS MARKET DOES NOT."


"Memory Card Slot? - Who needs it - it only wastes battery power, increases costs, and ONLY YOU POWER USERS WANT IT - THE MASS MARKET DOES NOT."


"480x320? - Who needs it - it only wastes battery power, increases costs, and ONLY YOU POWER USERS WANT IT - THE MASS MARKET DOES NOT."


"64MB? - Who needs it - it only wastes battery power, increases costs, and ONLY YOU POWER USERS WANT IT - THE MASS MARKET DOES NOT."

"WIFI - - Who needs it - it only wastes battery power, increases costs, and ONLY YOU POWER USERS WANT IT - THE MASS MARKET DOES NOT."

AND NOW LOOK AT WHAT THAT ZEN MENTALITY HAS GOTTEN YOU.

YOU SHALL REAP WHAT YOU SOW!!!!!!!!!!!!!!!!!!!!!!!!!!!!

DAMN YOU NAGEL!!!!! DAMN YOU BENAHMOU!!!!!!!!!!!! DAMN YOU ALLLL TO HELL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Planet of the Palms
Strider_mt2k @ 1/26/2005 11:42:17 AM # Q
Did you just see a broken Palm V sticking out of the surf or something? LOL

They blew it up!



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