To: Victor Lazlo who wrote (2524 ) 12/28/2000 11:30:29 PM From: Glenn Petersen Read Replies (3) | Respond to of 2743 Walker down a few pennies also.aolpf.marketwatch.com Priceline founder resigns from board By Chris Kraeuter, CBS.MarketWatch.com NORWALK, Conn. (CBS.MW) -- Priceline.com founder and Vice Chairman Jay S. Walker has resigned his board position. The name-your-own-price e-tailer has suffered very publicly as its stock slid from a record high of $104 to a little over a dollar today and several key executives left the firm. Walker, on paper at least, has lost $2.9 billion this year, with his stake in the company worth a mere $59.8 million. Earlier in December, Priceline announced it would cut 16 percent of its workforce and begin a restructuring. See full story. Walker was Priceline's chairman and CEO from its inception in July 1997 to August 1998, when he became the vice chairman. According to a Priceline statement issued Thursday after the market closed, Walker is leaving to focus on Walker Digital, a company he founded in 1994 as an intellectual property developer that invented Priceline's business model. He was recently named the CEO of Walker Digital. "I have every confidence that Priceline.com will emerge from the current environment as one of the Internet's pre-eminent brands," Walker said. Priceline (PCLN: news, chart) shares shed 9 cents, or 6.7 percent, to end at $1.31 on Thursday. They are down from a 52-week high of $104.25. According to Priceline's most recent proxy filing, in March, several of the company's "directors, executive officers and other key employees also are directors, officers, employees or stockholders of Walker Digital and either own, or hold an option to purchase, equity securities of Walker Digital and its affiliates.