Palm replaces Colligan as CEO with Rubinstein
Colligan will be joining Elevation Partners, the investment firm that kept Palm alive until the Pre could be released, by throwing chiunks of cash at the company over the last two years. When the private equity firm started investing in Palm two years ago, it was instrumental in making Rubinstein Executive Chairman of Palm, a role that included leading the development of the device that is charged with the job of turning Palm around and making the firm relevant again. He also was instrumental in the design of webOS, the new operating system that is getting rave reviews.
source: Market Watch