Well, it just keeps getting worse for struggling Palm. After seemingly getting its inventory removed from Radio Shack, an SEC filing revealed the company will be losing its head of software and services.
Michael Abbott, the senior VP in question, will be leaving the company April 23. According to sources, he played a large role in developing and maintaining webOS – which I still found to be one of the best 1.0 smartphone platforms I’ve ever seen. It’s not a great sign when a key figure in your hail-Mary OS is jumping ship, especially as there continues to be loud rumblings that the company is for sale.
That same filing said Palm has also implemented an employee retention program. The top guys at Palm aren’t dumb, they can see the writing on the wall and are probably looking for new gigs. To counter this, Palm gave its Chief Financial Officer and senior VP of global operations $250,000 bonuses and the option to purchase equity in the company. Its key employees will also get bonuses and equity if it stays with the company for another two years. Still, looking at its stock price, I don’t know if this enough to retain top-tier talent.
[Via The Wall Street Journal (subscription required)]