RIM Hopes to Hold Off Shareholder Revolt with Management Shake Up
BlackBerry maker Research in Motion has been on the skids lately, and many observers point to its co-CEO management structure as a major cause. According to multiple sources, the company is preparing to shake things up by removing co-CEOs Jim Balsillie and Mike Lazaridis from their additional roles as co-Chairmen of the board. They would remain as CEOs.
RIM board member Barbara Stymiest is rumored to be the likely successor in the role of Chairperson. It’s unclear if this move is being taken without the direct input of Balsillie and Lazaridis. Should this actually come to pass, the current CEOs will continue to run day-to-day operations at the company, but the board would presumably have more oversight.
Shareholders have been making noise about the company’s poor performance as of late, but troubling news continues to come out. Lazaridis announced recently that BlackBerry 10 phones may be delayed until late 2012. Do you think new board leadership will be enough to snap RIM out of its slump, or do the CEOs need to go?