Jim Balsillie, the former co-CEO of BlackBerry (then Research in Motion), has dumped every single one of his 26.8 million shares in the company, ahead of the American launch of the BlackBerry Z10 and BlackBerry OS10.
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Research in Motion announced over the weekend that the company’s two co-founders have stepped down as co-CEOs of the embattled BlackBerry maker in favor of two relative unknowns. RIM’s Chief Operating Officer Thorsten Heins becomes the new CEO while Royal Bank of Canada executive Barbara Stymiest was named independent chair.
BlackBerry maker Research in Motion often seems to have two left feet when it comes to management. Now, after becoming a serial failure, the company is considering removing its biggest roadblock: RIM’s co-CEOs. But can it quiet a months-long investor revolt?
Research in Motion — roundly clobbered in the smartphone and tablet market — is now trying to hang onto its core enterprise customers. It’s formula is to concede defeat by Apple and Android, then sell its rivals’ victory as a reason to stay with the Waterloo, Ont. company.