Boardroom shuffle as RIM appoints new CEO
Troubled BlackBerry maker Research In Motion is in the middle of a management merry-go-round as co-CEOs and -chairmen both step down
Mike Lazaridis and Jim Balsillie have resigned as co-chief executives and co-chairmen of Research In Motion (RIM), as a new broom takes charge of the struggling vendor.
The Canadian vendor named Thorsten Heins as its new president and chief executive, and also appointed him to the board. However, Lazaridis has taken on a new role as vice chairman of RIM's board, and as chairman of the board's new Innovation Committee.
He will work closely with Heins, offering strategic counsel in the role, as well as helping with a smooth transition and continuing to promote the BlackBerry brand globally. Balsillie will also keep a place on the board.
In a statement, Lazaridis said: "There comes a time in the growth of every successful company when the founders recognise 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. With BlackBerry 7 now out, PlayBook 2.0 shipping in February and BlackBerry 10 expected to ship later this year, the company is entering a new phase and we felt it was time for a new leader to take it through that phase and beyond.
"Thorsten has demonstrated thoughout his tenure at RIM that he has the right mix of leadership, relevant industry experience and skills to take the company forwards."
Balsillie added in a statement: "I agree this is the right time to pass the baton to new leadership, and I have complete confidence in Thorsten, the management team and the company."
Heins, who joined RIM from Siemens Communications Group in 2007, said: "We have a strong balance sheet with approximately $1.5bn [£964m] in cash at the end of the last quarter and negligible debt. We reported revenue of $5.2bnh in our last quarter, up 24 per cent from the prior quarter, and a 35 per cent year-to-year increase in the BlackBerry subscriber base, which is now more than 75 million.
"RIM earned its reputation by focusing relentlessly on the customer and delivering unique mobile communications solutions. We intend to build on this heritage to expand BlackBerry's leadership position."
He added that the firm has learned valuable lessons from its recent experiences.
"As with any company that has grown as fast as we have, there have been inevitable growing pains. We have learned from those challenges and I believe we have and will become a stronger company as a result," he said.
"We will continue to focus both on short-term and long-term growth, a customer and market-based product approach and flawless execution."
Other changes included the announcement of two new board members. Barbara Stymiest has been named independent board chairwoman, and Prem Watsa was also appointed.