Search: Look for:   Last 1 Month   Last 6 Months   All time

RIM names Thorsten Heins as new CEO as ex- executives Balsillie, Lazaridis step down

Washington, Mon, 23 Jan 2012 ANI

Washington, Jan 23 (ANI): Embattled Research in Motion's co-chief executives and co-chairmen, Jim Balsillie and Mike Lazaridis, are stepping down from their positions, and will be replaced by chief operating officer Thorsten Heins.


Heins, who joined Blackberry maker RIM five years ago, will replace Lazaridis and Balsillie, who worked with the firm for two decades, as chief executive, in the biggest shakeup in the firm's history.


The sudden move follows a year of decline in which RIM lost three-quarters of its market value, botched the launch of its PlayBook tablet and watched rivals eat into BlackBerry's market share, The Globe and Mail reports.


According to the report, Balsillie and Lazaridis have been grooming Heins as a successor for some time and said they decided to act as the company enters a new phase.


The catalyst for the shakeup appears to have been the entry of a new personality, Prem Watsa, CEO of Fairfax Financial.


Watsa, who has been called Canada's Warren Buffett for his business acumen, has been quietly buying RIM stock for some time.


Fairfax is now one of RIM's largest shareholders, and Watsa is being appointed to the company's board of directors after playing a role in key discussions in recent weeks. (ANI)


Manohar Lal being presented with a memento
Manoj Tiwari BJP Relief meets the family members of late Ankit Sharma
Haryana CM Manohar Lal congratulate former Deputy PM Lal Krishna Advani on his 92nd birthday
King of Bhutan, the Bhutan Queen and Crown Prince meeting the PM Modi
PM Narendra Modi welcomes the King of Bhutan
Post comments:
Your Name (*) :
Your Email :
Your Phone :
Your Comment (*):
  Reload Image




Excellent Hair Fall Treatment
Careers | Privacy Policy | Feedback | About Us | Contact Us | | Latest News
Copyright © 2015 NEWS TRACK India All rights reserved.