Priceline.com Founder to Leave Board

Priceline.com Inc., the “name-your-own-price” Internet firm, said Vice Chairman and founder Jay Walker will step down from its board, effective Sunday. Walker recently assumed the role of chief executive at Walker Digital, a Stamford, Mass.-based intellectual property developer that invented Priceline.com’s business model. Priceline.com, whose shares have fallen about 97% in the last year, has lost several key executives recently and is in the midst of a major restructuring. Earlier this month, the Norwalk, Conn.-based company said it would cut about 11% of its work force and postpone some planned expansions in order to focus on its core businesses. Walker is Priceline’s largest shareholder, with a stake of more than 37%. Shares in Priceline closed off 9 cents at $1.31 on Nasdaq before Walker’s departure was announced.