PalmSource Chairman Eric Benhamou will step down after the annual meeting of stockholders in October, the company said last Friday.
Benhamou will continue as chairman for PalmOne. He has been serving on the boards of both companies since the spinoff of PalmSource
from Palm last October. Handheld maker Palm had renamed itself PalmOne
after it spun off operating system maker PalmSource and acquired rival
PalmSource said that since the spinoff, it has completed a stock
offering that resulted in net proceeds of about US$59 million and has
launched an update of the operating system for mobile devices. The
company will now focus on the broader wireless handheld market with its
"PalmSource and PalmOne have firmly established themselves as
separate, publicly traded companies," Benhamou said in a statement.
"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
Benhamou also serves on the board of both RealNetworks and 3Com, where he is chairman.
PalmSource also announced on last Friday that Satjiv Chahil,
former chief marketing officer at Palm and former corporate marketing
chief at Apple Computer, will not run for re-election to the PalmSource
board, due to other commitments. However, he will help the company
establish an advisory board of industry experts.