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CEO Shift At Battered RIM

Giving in to investor unrest, Research In Motion co-CEOs, Jim Balsillie and Mike Lazaridis, have turned over the top job to Thorsten Heins -- the company’s co-chief operating officer. Putting the change in context, The Wall Street Journal writes: “For months, investors have clamored for a significant strategic overhaul, fresh leadership or a sale of the company as the BlackBerry maker struggled to stay competitive with rivals Apple Inc. and Google Inc. amid operational blunders and a tumbling share price.”

The WSJ suggests that the change is more drastic than some expected, though it expects some critics to call for a cleaner break from Messrs. Balsillie and Lazaridis, who are expected to stay on as directors and major shareholders. Likely to further rile some investors, Heins on Monday indicated that he won’t pursuit drastic changes, like a sale of the company.

"I don't think that there is some drastic change needed," he said on a conference call, adding: "I will not in any way split this up or spin this into different businesses." At the moment, the company’s two biggest priorities include relaunching its poorly selling PlayBook, and the rollout of a new BlackBerry phone that will use RIM's new operating system.


Read the whole story at The Wall Street Journal »

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