RealTime IT News

Benhamou to Resign as PalmSource Chairman

Eric Benhamou plans to resign as chairman of the PalmSource board of directors in late October, but will continue as chairman of PalmOne.

Benhamou has served on the boards of both PalmSource and PalmOne since PalmSource spun-off from Palm in October 2003, the same year the company acquired handheld rival Handspring.

"PalmSource and PalmOne have firmly established themselves as separate, publicly traded companies," said Eric Benhamou. "Their relationship has now fully transitioned to the scope and processes appropriate for two independent companies. Their boards, too, must evolve toward greater independence, consistent with prevailing governance practices."

Under Benhamou, PalmSource, maker of an operating system for handheld devices and smartphones, completed a stock offering that resulted in net proceeds of $59 million, launched Palm OS Cobalt -- the sixth generation Palm OS -- and signed four new carriers to the Palm mobile network.

"Eric Benhamou has been an integral part of PalmSource's strategic separation from Palm, Inc., and the restructuring of the handheld industry," said David Nagel, president and CEO of PalmSource. "[The company] is shifting its focus to the broad wireless handheld market."

PalmSource also announced Satjiv S. Chahil, the former chief marketing officer for Palm, will not stand for re-election as a member of the PalmSource board. According to PalmSource, Chahil has agreed to assist the company in establishing an advisory board of industry experts and pioneers.