I suppose some might have seen this coming. In December, Research In Motion (RIM) released their third quarter earnings, which were yet another disappointment for the struggling maker of BlackBerry. RIM Co-CEOs Jim Balsillie and Mike Lazaridis announced subsequently that they would only draw yearly salaries of $1 to help combat the company’s financial woes.
Today, it seems the pressure has become too great, and a management shuffle is under way. The Globe has reported that the Co-CEOs, after a year of pressure from investors and stockholders, have stepped down from the position. Company insider and current COO Thorsten Heins will be replacing the co-CEOs.
Lazaridis and Balsillie have both led the Waterloo-based company for decades, as Lazardis founded RIM back in 1984 and later brought on Balsillie. Balsillie stepped down from his role as Chairman in 2007, but retained his position as co-CEO along with Lazaridis. Today, the founder will become vice chairman, and Balsillie will remain a board member — but with no functional operating role in RIM going forward.
RIM Director Barbara Stymiest is to take over as chairman, and Thorsten Heins, the current COO is now the top dog. Heins joined RIM four years ago from Siemens AG, where he was the CTO.
We will continue updating.
- RESEARCH IN MOTION
Research In Motion (RIM) is a Canadian designer, manufacturer and marketer of wireless devices and solutions for the worldwide mobile communications market. The company is best known as the developer of the BlackBerry smart phone.
RIM technology also enables a broad array of third party developers and manufacturers to enhance their products and services with wireless connectivity to data.
RIM was founded in 1984. Based in Waterloo, Ontario, the company has offices in North America, Europe and Asia Pacific.