On Monday, Palm said it would sell 25 percent of the company to private equity firm Elevation Partners for $325 million. Elevation Partners was founded by Fred Anderson, Apple's former CFO, and Roger McNamee, who will now sit on Palm's board, replacing Eric Benhamou and D. Scott Mercer. The company also said it would bring on Jon Rubinstein, who formerly ran the iPod division at Apple, as executive chairman of the board.
Rubinstein, who helped turn Apple around in the late 1990s by leading development of the iMac and the iPod, appears to be well-suited for the job. He's known throughout the industry as someone who can take a vision and execute on it by building successful products, an approach many believe Palm needs right now. McNamee said he believes Rubinstein's strong execution history will fit well with Palm's founder Jeff Hawkins. http://tinyurl.com/2hfwww [Non-text portions of this message have been removed]
