RIM's co-CEOs Jim Balsillie and Mike Lazaridis step down
Added On:1/23/2012 9:03:00 AM

In a surprising move, Research In Motion's Mike Lazaridis and Jim Balsillie have bowed to investor pressure and resigned as co-CEOs and co-Chairmen. Now, current operations head Thorsten Heins will take over as the new, unified CEO.

Sources informed, Heins, who is also named to RIM's board of directors, joined RIM back in December 2007 as senior Vice President for hardware engineering and became Chief Operating Officer for product and sales in August 2011.

It is worth noticing that Balsillie and Lazaridis, who are the second and third largest shareholders in the company, were at the helm as RIM is suffering a sharp slowdown in growth this year.

Analysts believe, RIM's latest wave of BlackBerry smartphones have failed to impress users because of Apple’s remarkable iPhone 4S and a string of Android powered smartphones. Moreover, RIM’s attempt to breach the tablet market with the PlayBook has also stumbled early. All in all, struggling tech giant RIM’s shares have shrunk more than 70 percent this year, an eight-year low value.  

Analysts further added, Lazaridis and Balsillie were seen as a major obstacles to any deal. 

Neither Lazaridis nor Basillie detailed any future plans outside RIM.  

 

ITVoir NewsDesk


Tags: RIM, Mike Lazaridis, Jim Balsillie, Thorsten Heins, Android, Apple, iPhone 4S
  


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