Responding to pressure from investors, Research In Motion’s joint chief executives Mike Lazaridis and Jim Balsillie have resigned.
Former chief operating officer Thorsten Heins takes over the top job at the struggling BlackBerry maker. In a conference call on Monday, Heins said he would focus on a consumer push and a smooth delivery of its products, rather than allowing a churn of innovation to disrupt rollout, as in the past.
“We innovated while we were developing the product and that needs to stop,” Heins said. “We need to innovate, don’t get me wrong, but … when we say a product is defined and a product is a product, execution has to be really, really precise.”
Still, he hinted he would stick to the current strategy, saying the company needed scaling up, not a dramatic transformation.
Lazaridis and Balsillie stressed this is an orderly transition in a long-agreed succession plan, not a retreat in the face of a plummeting share price, shrinking market share and criticism of its products, but takeover talk continues to swirl around RIM .
Heins is a former Siemens executive who has risen steadily through RIM’s upper management ranks since joining the Canadian company in late 2007.
Activist investors have clamoured in recent months for a new, “transformational” leader who could revitalise RIM’s product line and resuscitate its once cutting-edge image, but the market obviously did not see Heins as that and the company’s shares fell over five percent when trading started on Monday.
Lazaridis and Balsillie also gave up their shared role as chairman of RIM’s board. Barbara Stymiest, an independent board member who once headed the Toronto Stock Exchange, will take over in that capacity.
The pair had together built Lazaridis’ 1985 start-up into a global business with 15 billion euros in sales last year.
In recent years, they have weathered a storm of criticism as Apple’s iPhone and a slew of devices powered by Google’s Android operating system hit sales of their email-focused BlackBerry.
“There comes a time in the growth of every successful company when the founders recognize the need to pass the baton to new leadership. Jim and I went to the board and told them that we thought that time was now,” Lazaridis said.
Copyright © 2015 euronewsMore about:
- 1EU macro regions – a way to resolve issues with your neighbours?
- 2Turkey eyes further interest rate cut if January inflation falls
- 3Greek shares slump further as financial markets fret over new government’s anti-austerity pledges
- 4Markets mostly not fazed by S&P’s downgrading of Russia’s credit rating to junk level
- 5British 2014 growth was fastest in seven years
- 1Eurogroup leaves door open for Syriza to partially renegotiate ‘if necessary’
- 2Markets mostly not fazed by S&P’s downgrading of Russia’s credit rating to junk level
- 3Russian stocks, bonds and rouble all slide on weak oil and Ukraine fighting
- 4Turkey eyes further interest rate cut if January inflation falls
- 5British 2014 growth was fastest in seven years
- 1So what exactly is quantitative easing, and how is it going to get the eurozone growing again?
- 2Business Line: the best performing EU economy, Davos costs and why Google Glass died
- 3Eurogroup leaves door open for Syriza to partially renegotiate ‘if necessary’
- 4European Central Bank unveils massive stimulus to goose up eurozone growth and inflation
- 5Ebola, poverty and inequality pleas at World Economic Forum in the name of good business
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2The power of the pen: Cartoonists worldwide react to the Charlie Hebdo attack | euronews, world news
- 3Immigration, racism in sport and the rise of extremism – Cantona shares his views | euronews, interview
- 4[LIVE] 12 dead after gun attack at French satirical weekly Charlie Hebdo | euronews, world news
- 5[LIVE NOW] Massive unity rally in Paris, with similar marches in other French cities | euronews, world news
- 6[LIVE] Second hostage crisis erupts in Paris as police close in on Charlie Hebdo suspects | euronews, world news
- 7Muslim groups fear backlash after terrorist attacks in Paris | euronews, news
- 8“ISIL is the baby of George W Bush” | euronews, news
- 9International breaking news | euronews online world breaking news in video
- 10Medieval Bruges is to get its own underground beer pipeline | euronews, world news
- 11Almost four million turn out for unity rallies across France | euronews, world news
- 12euronews apps : iPhone, iPad, Android, Windows Phone 8, Windows 8, Nokia S40, Nokia Asha, Smart TV and Google Glass
- 13Key questions around the Charlie Hebdo killings go unanswered | euronews, world news
- 14A defiant Charlie Hebdo: it’s not the front page the terrorists would’ve wanted | euronews, world news
- 15HarperCollins wipes Israel off the map | euronews, world news
- 16NewsWires : euronews : the latest international news as video on demand
- 17eurovibes - a selection of Europe’s best music talent
- 18Getting to know Sir Tony and “the world’s greatest tenor” | euronews, musica
- 19Grim task of retrieving bodies after wreckage of missing AirAsia plane found | euronews, world news
- 20Charlie Hebdo: Israeli paper deletes women from Paris march | euronews, world news
Wires > Business
- 16:56 CET Oil slips to $49 as U.S. crude inventories hit record
- 16:16 CET Oil slips below $49 on huge U.S. stock build, firm dollar
- 15:36 CET New SKF boss makes mark with move to cut 1,500 jobs
- 15:27 CET Fed seen remaining patient with rate guidance amid global turmoil
- 15:17 CET Airbus CEO promises shake-up after new A400M delays
- 15:16 CET Qatari-led group wins $4 billion battle for Canary Wharf
- 15:07 CET Car industry heads lobby to drop tariffs between EU, U.S.
- 14:58 CET Nissan recalls 768,000 crossovers and SUVs for separate problems