Phones Review

Palm Paying Execs to Stay as Senior VP of Software Jumps Ship

Under: Business and Stocks
Date: April 17th, 2010

Ah the misfortunes of Palm as their saviour smartphones the Palm Pre and Palm Pixi fail to drag the company back to former glory. You’ve probably already heard that Palm is up for sale and a couple of companies such as Huawei and Lenovo are rumoured to be interested.

However when a ship is in trouble there are some who jump ship, and according to an article over on engadget, the senior vice president of software at Palm, Michael Abbott, who was the guy largely responsible for Palm’s webOS as a platform is jumping the Palm ship as of the 23rd of April.

So when execs start to jump ship what does Palm do? They bribe other top execs to stay on for a few years with stock and a cash payout of $250,000, namely none other than Palm’s CFO Doug Jeffries and the SVP of global operations, Jeff Devine.

Furthermore it appears than Palm is attempting to cling onto virtually everyone with exec status by offering various packages of cash and Palm shares.

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