Mike Lazaridis and Jim Balsillie are Finally About to Relinquish Their Roles at RIM

Posted by Knowlton Thomas

After more than a year of being pressured by shareholders to step down from their roles, co-CEO and co-chairmen of RIM, Mike Lazaridis and Jim Balsille, finally appear poised to do. According to Financial Post sources, RIM's dual leaders are on the brink of unveiling a corporate shakeup that would see them relinquish their chairmen titles.

It is believed that independent director Barbara Stymiest will take over as chairwoman. The shakeup should occur in February; a report constructed by RIM's independent directors is expected to be delivered by the end of January, with Mike and Jim to respond within 30 days of receipt.

Shares of RIM plunged 75% last year. Mike and Jim reduced their salaries to $1 each as a symbol of their selfless commitment to the company but it did little to ease their company's pain. RIM's reputation diminished from that of a pioneer in the smartphone space to a laggard infamous for product delays and outdated technology.

Company:
BlackBerry
Website:
http://www.blackberry.com
Location:
Waterloo, Ontario, Canada

Research In Motion (RIM), a global leader in wireless innovation, revolutionized the mobile industry with the introduction of the BlackBerry solution in 1999. Since then, BlackBerry products and services have continued to change the way millions of people around the world stay connected. With the launch of BlackBerry 10, we have re-designed, re-engineered and re-invented BlackBerry. Not only did we introduce a... more


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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys playing tennis or otherwise enjoying the outdoors. more



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