PalmSource CEO Quits Abruptly
David Nagel, president and CEO of handheld software maker PalmSource, resigned last week.David Nagel, president and CEO of handheld software maker PalmSource, resigned last week. Patrick McVeigh, the companys vice president of worldwide licensing, was named interim CEO. Nagel plans to stay with the company through July as a consultant. He had been CEO since 2001 and led the company through a transition, during which it spun off from the former Palm in 2003 and completed an IPO last year.
Also last week, PalmSource announced that it has extended its licensing agreement with PalmOne and that PalmOne has bought back PalmSources interest in the holding company that owns the Palm brand name for $30 million. PalmOne plans to change its name to Palm Inc. later this year.