PalmOne CEO announces departure, stock tanks
Jan 24 2005 - 09:17 PM ET | Palm
PalmOne CEO Todd Bradle announced he would be leaving at the end of the quarter, February 25th 2005. Bradle has been on the job since October 2003. Investors did not take the news kindly: shares of the company ( traded under the ticker PLMO
) fell an impressive 11% in after hours trading. Combined with normal trading on Monday, shares of PalmOne traded down nearly 15%.
Other bad news plaguing PalmOne lately include the lagging Treo 650 launch and a Q1 earnings warning. Rumor has it that Cingular Wireless will launch the Treo 650 on Wednesday.