Donna Dubinsky has stepped down from Palm's board of directors, bringing to a close a long history with the company, according to a filing Palm made with the SEC.
Dubinsky offered to resign her seat on the board on Jan. 26, and on Jan. 30 Elevation Partners nominated Rajiv Dutta for election to the board. As part of the $100 million equity investment Elevation made in Palm in December, Elevation secured the right to appoint a member to the board. Citing the desire to keep the board the same size, Dubinsky offered to resign. The board will meet soon to consider Dubinsky's resignation and Dutta's election.
The company said her resignation was not the result of any disagreement with Palm. Dutta recently retired as the president of eBay Marketplaces and executive vice president of eBay.
Dubinsky served as president and CEO of Palm Computing from June 1992 to July 1998. She left in 1998 to found and serve as the CEO of Handspring. The move comes at a critical time for Palm, which is betting much fo the company's future on the success of its new operating system, webOS, and its new handset, the Pre, which Sprint Nextel is expected to launch sometime in the second quarter of 2009.
- see this article
- see this filing
Palm pins hopes on Pre, new OS
Palm receives $100 million investment from Elevation Partners
Palm loses $506 million, sees drop in revenue