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WirelessDevNet.com Press Release
Eric Benhamou to Resign as PalmSource Chairman of the Board
SUNNYVALE, Calif., August 13, 2004 — PalmSource, Inc. (NASDAQ: PSRC) provider of Palm OS®, a leading operating system powering next generation mobile devices and smartphones, today announced Eric Benhamou has stated his intention to resign his position as chairman of the PalmSource board of directors immediately following the annual meeting of stockholders on October 28, 2004. Benhamou is expected to continue to serve as chairman of the board for palmOne.
Benhamou has continued on the boards of both PalmSource and palmOne since the spin-off of PalmSource from Palm, Inc. in October 2003. PalmSource has now achieved several milestones, including the completion of a stock offering that resulted in net proceeds of approximately $59 million, the launch of Palm OS Cobalt, the sixth generation Palm OS, and signing four new carrier/operator partnerships worldwide to the Palm Powered™ Mobile World program.
“PalmSource and palmOne have firmly established themselves as separate, publicly traded companies,” said Eric Benhamou. “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 governance practices.”
“Eric Benhamou has been an integral part of PalmSource’s strategic separation from Palm, Inc. and the restructuring of the handheld industry,” said David Nagel, president and chief executive officer, PalmSource. “PalmSource is shifting its focus to the broad wireless handheld market, and will continue to provide leading software products for this growing industry.”
In addition, due to other commitments, Satjiv S. Chahil, former chief marketing officer, Palm, Inc. will not stand for re-election as a member of the PalmSource board of directors. Chahil has agreed to assist PalmSource in establishing an advisory board of industry experts and pioneers.
About PalmSource
PalmSource, Inc. is the company behind Palm OS, a leading operating system powering mobile information devices. Approximately 35 million Palm Powered handhelds and smartphones have been sold to date worldwide. Industry leaders Aceeca, AlphaSmart, Fossil, Garmin, GSPDA, Kyocera, Lenovo, palmOne, QTech, Samsung, Sony, Symbol Technologies and Tapwave license Palm OS to create diverse mobile devices that meet unique customer needs. Palm OS has given rise to a large community of users, enterprises, developers and manufacturers, who together make up the Palm Powered Economy. More information about PalmSource is available at http://www.palmsource.com, http://www.palmsource.co.uk, http://www.palmsource.fr, http://www.palmsource.de and http://www.palmsource.com.cn.
Copyright © 2004, PalmSource, Inc. PalmSource and Palm OS are trademarks or registered trademarks of PalmSource, Inc. or its affiliate in the United States, France, Germany, Japan, the United Kingdom, and other countries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners.
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Safe Harbor Statement
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements that involve risks and uncertainties, as well as assumptions if they never materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. Such forward-looking statements include, without limitation, statements regarding PalmSource’s intention to focus on the broad wireless handheld market and PalmSource’s expectation that it will continue to provide leading software products for the broad wireless handheld market. The risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements include, without limitation, the acceptance of our platform software by our licensees for smartphone and other smart mobile devices; the ability of Palm Powered smart mobile device users to successfully use third party software applications to customize their handheld or smartphone devices to meet the needs of a particular industry or special interest; our ability to maintain and grow the developer community; the continued availability and growth of a large library of native software for our mobile system; the ability of PalmSource and its licensees to successfully work with carriers and operators and for PalmSource to grow the Palm Powered Mobile World Program; the ability of PalmSource or its licensees to benefit from any growth in the wireless and/or smart mobile device markets; and the general economic conditions in the U.S. and abroad and other risks and uncertainties contained in our public announcements, reports to stockholders and other documents filed with and furnished to the Securities and Exchange Commission, including our Quarterly Report on Form 10-Q for the period ended August 29, 2003, November 28, 2003 and February 27, 2004. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we assume no obligation to update these forward-looking statements.
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