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Home Article Listing Jon Rubinstein appointed CEO of Palm; replaces Ed Colligan

Jon Rubinstein appointed CEO of Palm; replaces Ed Colligan

Palm webOS has "ten-plus years of innovation" ahead of it, states the newest CEO of Palm, former chairman (and Apple executive) Jon Rubinstein. He succeeds Ed Colligan (left), who has been at the company's helm for 16 years.

From the press release:

SUNNYVALE, Calif.--(BUSINESS WIRE)--Palm, Inc. (Nasdaq: PALM - News) today announced that its board of directors has appointed Jon Rubinstein to lead the company as Chairman and CEO upon the departure of Ed Colligan, who is stepping down after sixteen years of leadership at the company. Rubinstein, who joined Palm as Executive Chairman in October 2007 to help bring innovation back to the company, assumes his role as CEO on June 12. Colligan plans to take some time off, then join Elevation Partners.

“I am very excited about taking on this expanded role at Palm,” said Rubinstein. “Ed and I have worked very hard together the past two years, and I’m grateful to him for everything he’s done to help set the company up for success. With Palm webOS we have ten-plus years of innovation ahead of us, and the Palm Pre is already one of the year’s hottest new products. Due in no small part to Ed’s courageous leadership, we’re in great shape to get Palm back to continuous growth, and we plan to keep the trajectory going upward.”

Colligan responded by stating he was proud of what Palm has accomplished and pioneered over the years, and believes that they will help define the mobile web standard into the future. It is unclear as to what role he will continue to have with Palm, or of his future commitments on the board of directors. We are looking forward to Rubinstein continuing on with the success of webOS, the Pre and other devices to follow.

via ZDNet

Update: Salary numbers have come in, and with Palm still recovering from poor revenue last quarter, will the move pay off for them? Colligan's base salary was $757k in 2008, while new CEO Rubinstein will be making up to $1.7M a year, including $850k base, reports mocoNews. In turn, Colligan will receive $1.2M in separation payments over the next year.

Palm reports that the agreement will result in a non-cash charge to the company of about $5M next quarter, and $2M over the next 12 months.



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