palmOne Announces Leadership Transition, CEO Resigns
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."
palmOne 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.