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palmOne CEO Steps Down

1/25/2005 08:52:00 AM Eastern

Milpitas, Calif. — Todd Bradley, palmOne’s CEO, has resigned, effective at the end of the quarter.

Bradley will remain as an advisor for palmOne through May. Company president Ed Colligan will act as interim CEO until a replacement for Bradley is found, said the company, adding that Colligan is a candidate for the permanent CEO position.

Bradley said in a prepared statement, “I’ve accomplished what I set out to do. 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 … I feel the time is right for me to move on to another challenge.”

Eric Benhamou, palmOne’s chairman of the board, credited Bradley with restoring palmOne to financial stability and driving the acquisition and integration of smartphone maker Handspring.

Alex Slawsby, senior analyst for mobile devices at IDC, Framingham, Mass., echoed the successes of Bradley, but noted the company remains at a crossroads in a volatile market. “During Todd’s tenure, the company was able to leverage Handspring’s resources to a notable success. There still remain questions as to where the company goes from here, but, at least, it’s in a much better position.” Future questions include, “What steps palmOne can take to expand its presence in smartphones and continue to leverage its equity in the PDA market? Wall Street and a lot of folks are waiting to hear what they do next,” added Slawsby.

Colligan, 43, formerly president and COO of Handspring, joined palmOne as senior VP and general manager of the wireless business unit in October 2003, upon the acquisition of Handspring. He was named president in June 2004.