Waterloo: Research In Motion’s Mike Lazaridis and Jim Balsillie have to convex to investor pressure and resigned as co-CEOs, handing the top job to an insider with four years at the rebellious BlackBerry maker.
RIM said that Thorsten Heins, an ex-Siemens AG executive who has risen gradually through RIM’s upper management ranks since joining the Canadian company in late 2007, took over as CEO on Saturday.
That, consecutively, left Balsillie and Lazaridis under increasing pressure from investors shocked at RIMs tumbling share price. The shares fell 75pc preceding year.
Lazaridis told that “This marks the beginning of a new Year for RIM. It was a bit of a bumpy ride. We’ve done it as best we could.”
The departure of the two from the top jobs at RIM approaches just a week before the company’s own deadline for releasing the findings of a management review. In spite of, public disapproval from investors including Northwest & Ethical Investments and Jaguar Financial, the pair insisted previous night that their decision was not because of that pressure.
Yesterday, Heins said that the development of a latest operating system will yield results for RIM, and also pointed to its small amount of debt as strength for what was once Canada’s most precious company. The German executive also said that he will be looking for a latest marketing chief – an area in which Apple excels.