Palm: My Three CEOs
Struggling handheld manufacturer Palm Inc. (Nasdaq: PALM) has named Todd Bradley as head of its hardware company. This means Palm now has three CEOs -- one for hardware, one for software, and one for, er... stuff.
Unstrung doesn't know which one has the biggest office. Palm's other operating company, PalmSource, is responsible for Palm's operating system and is led by David Nagel. Bradley and Nagel report to Eric Benhamou, chairman of the board and chief executive officer of Palm. Are you following this?
With so many cooks stirring the broth, is it any wonder the company is still struggling in the sluggish handheld market? Yesterday, the company reported a net loss of $27 million for the fourth quarter of fiscal year 2002 on revenues of $233 million. This slightly exceeds the company's downgraded revenue expectations, which it announced on May 30 this year.
— Dan Jones, Senior Editor, Unstrung