Motley Fool writes a letter to Palm CEO
And there's a lot of complaints there...
To: Ed Colligan, CEO, Palm (Nasdaq: PALM)
From: Tim Beyers, The Motley Fool
I'm writing to ask you to step down.
I don't say that easily, sir. Like many, I feel I owe you and your fellow Palm pioneers, Jeff Hawkins and Donna Dubinsky, a debt of gratitude. Together, you three made handheld computing a mass market. You also helped to create the smartphone market with the introduction of the Treo.
In short: your list of contributions is long, and your place in history is assured. Don't ruin that by overstaying your welcome.
And among other things...including three strikes and your out...
Let Bono provide some elevation
Palm needs a fresh start, and that's best achieved with a new CEO.
It's not as if executive changes aren't already under way. We know Mr. Hawkins, who has been working part-time in recent years, is very likely to give way to former iPod designer Jon Rubinstein.
We can thank Bono for that. Well, Bono and his compadres at private equity firm Elevation Partners, which in June pledged $325 million in capital for a 25% stake in Palm.
Full letter is here...do you agree?