RIM CEOs quit unexpectedly
Posted on: Jan 24, 2012 |
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In an unexpected move, RIM confirmed late Sunday that its two CEOs Jim Balsillie and Mike Lazaridis are resigning from their positions. The two would stay on as board members and shareholders, but direct leadership will be given to one person, current COO Thorsten Heins.
There would be "continuity" from the earlier strategy, Thorsten Heins stated, but it was "not going to be a standstill" that preserves the status quo. Jim Balsillie and Mike Lazaridis cast their partial exits as voluntary, but also in the context of a panel decision that suggested the board changes. Jim Balsillie claimed that the move would have good timing now that BlackBerry PlayBook 2.0 and the first BlackBerry 10 phone were both scheduled. The dual resignation comes after what many consider RIM's worst year of performance on record. The co-CEO structure was widely criticized, both for being very unusual in the electronics market, but also for a self-reinforcing structure that made it harder to challenge their strategy. |
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