Handspring’s CFO resigns

Friday May 03, 2002

MOUNTAIN VIEW, Calif. (Dow Jones/AP) — Handspring Inc.’s chief financial officer, Bernard Whitney, will resign for personal reasons effective July 1, the company said Thursday. 

Whitney, 45, has been chief financial officer of the maker of handheld computers since June 1999. 

The company said it hired an executive recruiting firm to begin a search for a replacement. 

The sudden resignation comes after Handspring reported disappointing first-quarter earnings and revenue April 15. The company had said it needed more time to educate consumers about its devices. 

Handspring’s most recent model, the Treo, combines the functions of a Palm personal digital assistant and a cell phone. 

Additionally, Handspring said it would not be profitable until the last quarter of this year, instead of the third quarter. 

Shares of the company finished at $2.21 in after-hours trading, after closing the regular session at $2.32, down 20 cents, or 7.9 percent.