Research in Motion co-founders Balsillie and Lazaridis Resign as heads of company
3 replies, posted
[URL=http://www.cbc.ca/news/business/story/2012/01/22/rim-lazaridis-balsillie.html]Source[/url]
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Mike Lazaridis and Jim Balsillie, the co-chief executives of Research In Motion Ltd., have stepped down as heads of the Waterloo, Ont.-based technology company.
According to a news release issued Sunday, RIM's board of directors unanimously named former chief operating officer Thorsten Heins as president and CEO on the advice of Balsillie and Lazaridis.
"There comes a time in the growth of every successful company when the founders recognize the need to pass the baton to new leadership," Lazaridis said. "Jim and I went to the board and told them that we thought that time was now."
RIM has faced intense pressure from shareholders for months to change its management structure amid concerns the company is unable to compete with rivals Apple Inc. and Google Inc.
The company, maker of the Blackberry series of smartphones and tablets, was the most valuable company in Canada as recently as 2008, but after a series of missteps the company has seen its share of the smartphone market dwindle.
According to the company, Lazaridis is now the vice-chair of the company's board of directors as well as chair of its new innovation committee.
Balsillie will remain a member of RIM's board of directors.
"I agree this is the right time to pass the baton to new leadership, and I have complete confidence in Thorsten, the management team and the company," Balsillie said. "I remain a significant shareholder and a director and, of course, they will have my full support."
Heins joined RIM in December 2007 as a senior vice-president and was appointed chief operating officer for product and sales in August 2011.
[h=3]Big slide in 2011[/h]Balsillie and Lazaridis, who shared the CEO and chair titles, have headed RIM together for the past two decades.
The company took a big slide in 2011, dropping behind its peers in the lightning-paced smartphone market, suffering through the worst service outage in its history and losing tens of billions of dollars in market value.
And the PlayBook tablet, RIM's answer to the Apple iPad, failed to gain consumer support and the company was forced to give it deep discounts to help move the devices off store shelves.
Many investors held Balsillie and Lazaridis responsible for the company's problems and previously called for them to be replaced and also for the company to be sold or broken up.
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but i love my blackberry ! :(
Good, Blackberry has been a fucking trainwreck so far.
Good riddance. Lazy and Silly have been holding my hometown over the barrel due to their ineptitude.
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