webOS SVP Leaves Palm
[UPDATED] Palm Inc. announced today via a SEC 8-K filling that Michael R. Abbott, Senior Vice President of Software and Services, submitted his resignation. The filling details that his employment is expected to terminate effective April 23, 2010.
Mr. Abbott joined Palm in 2008 and lead the team that developed webOS. His management bio at Palm.com states Michael leads the application platform and services development for the company's next-generation Palm webOS platform. […] Before joining Palm, Michael was the general manager of .NET Online Services at Microsoft, where he led efforts to deliver a services platform that enabled the development of large-scale Internet-based services. No reasons were given for his departure.
Interestingly, the same 8-K also reveals that two other senior managers were just offered retention packages provided they remain with the company for a two year period. Jeffrey P. Devine, Palm's Senior Vice President of Global Operations, and Douglas C. Jeffries, Palm's Senior Vice President and Chief Financial Officer, each received a grant of restricted stock units pursuant to Palm's 2009 Stock Plan and a cash bonus of $250,000.
It turns out that Palm has filled stock and cash retention plans for its entire senior management team.