February 4th, 2009
Former Palm CEO to resign from board of directors
Donna Dubinsky, former Palm CEO and one of the company’s original founders, is planning to resign from her seat on Palm’s board of directors.
The recent $100 million equity deal with Elevation Partners also included the right for the investment group to appoint an additional director for election on Palm’s Board, according to PalmInfoCenter.
Palm’s recent 8-K SEC filing on the matter states that the board wishes to maintain its current size and that Dubinsky offered to resign immediately in advance of the election. The filing states that Dubinsky’s offer to resign as a director was not the result of any disagreement.
Elevation has nominated Rajiv Dutta to take Dubinsky’s place. Dutta recently retired as the President of eBay Marketplaces and Executive Vice President of eBay Inc. in October 2008, and earlier as a member of eBay’s board of directors, in July 2008.
Palm’s Board is expected to meet shortly to consider Dubinsky’s offer to resign and Dutta’s election to the Board.
Dubinsky currently serves as the CEO of Numenta, the company she co-founded with Jeff Hawkins in 2005 to commercialize ideas derived from Hawkins’ research in neuroscience and brain theory. Dubinsky is also a Yale University trustee.
More on ZDNet:
- Michael Singer: Five reasons for Palm’s slide
- David Berlind: Former Palm founder “nails it” on smartphone culture clash
Andrew J. Nusca is an associate editor for ZDNet and SmartPlanet.
See his full profile and disclosure of his industry affiliations.
