THIS JUST IN - POWELL RESIGNING

[skippytx]

In my experience the "position being eliminated" is just a way to fire someone with everyone saving face. They don't have reason to terminate for cause, so they "eliminate the position" which generally will still grant any stock, bonus, retention pay etc that was in her contract, and probably provide a hefty severance package as well.

It's basically a "we're going to pay you to go away" type situation.