Palm has named ex-Apple executive Jon Rubinstein as its new chairman and CEO, just days after launching the Pre device that aims to turn around company fortunes. Rubinstein – purported by Palm to have been “instrumental” in conceiving Apple’s iPod – takes over from Ed Colligan from tomorrow. Colligan, Palm’s CEO since 2005, plans to join Palm’s biggest investor, private-equity firm Elevation Partners. Rubinstein is currently executive chairman of Palm and was originally hired to focus on “driving innovation in mobile products.” He has played a central role in developing its newest smartphone, the Pre, which began selling Saturday. Analysts have estimated the device has sold 50,000-100,000 units to date.

Palm is hoping the device – which runs its new mobile operating system, webOS – will help turn around company fortunes, as the vendor saw revenues sink 70 percent year-on-year as it reported widening losses in its most recent fiscal quarter. “With Palm webOS we have ten-plus years of innovation ahead of us, and the Palm Pre is already one of the year’s hottest new products,” said Rubinstein in a statement, claiming the company is in “great shape” to achieve “continuous growth.” A new ‘teardown’ from research firm iSuppli estimate that it costs Palm between US$140 and US$160 to build the Pre, with each device retailing for US$199.99 (with a two-year service agreement via US operator Sprint and after a US$100 mail-in rebate).