PALM Palm (MM)

Departing Palm Inc. (PALM) executive Michael Abbott already has a new gig.

Abbott, who oversaw software and services for Palm, will take over as vice president of engineering at micro-blogging service Twitter on May 3, a Twitter spokesman confirmed Tuesday. Abbott's last day at Palm is on Friday.

The news was originally reported by the Web site Techcrunch.

Abbott's departure is just the latest setback for Palm, which has hired bankers to advise it on a potential sale. The company also doled out cash and stock bonuses to keep the rest of its executive team intact.

A spokesman for Palm declined to comment on Abbott's move.

For privately held Twitter, Abbott brings his experience from Palm and Microsoft Corp. (MSFT), where he was the general manager of the company's .NET Online Services.

To make room for Abbott, Twitter said it was promoting its current engineering executive, Greg Pass, to chief technology officer.

Palm shares are up 1.1% at $4.97.

-By Roger Cheng, Dow Jones Newswires; 212-416-2153; roger.cheng@dowjones.com

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