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Priceline.com founder Walker resigns

Published on .

Norwalk, Conn.--Jay Walker, Priceline.com Inc.'s founder and vice chairman, has resigned his board position. He will focus on Walker Digital L.L.C., a Stamford, Conn.-based intellectual property company affiliated with the "name your own price" start-up. Priceline, once the highest-flying of Internet companies, has hit hard times. In early December it announced it would cut 11% of its work force. And its stock price, which in March hit a 52-week high of $104.25, on Dec. 27 dropped to a 52-week low of $1.06. Among its b-to-b pacts was a deal it struck last May with American Express Co. to target small businesses.
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