Research In Motion (RIM) CEO Thorsten Heins has his work cut out for him. Faced with growing skepticism regarding RIM's future, he has to make sure his company delivers the goods and is able to convince business clients and consumers that the BlackBerry platform is still relevant. One has to wonder, wouldn't it have been easier to go all-in with Android instead? That was something Heins said his company looked at, but ultimately decided against.
It's fair to question Research In Motion's (RIM's) future and wonder if company CEO Thorsten Heins can right the ship. Skepticism comes with the territory when you tell investors your company lost $518 million last quarter, dropped $2.1 billion in sales compared to one year ago, and plan to cut 5,000 employees. Heins understands the grim outlook from those on the outside looking in, but from where he stands, RIM is a "great company" with a "great future" ahead of it.
Mike Lazaridis, the Greek Canadian businessman who founded Research In Motion (RIM) and recently stepped down as the company's co-Chief Executive Officer, is putting his money where his mouth is. Lazaridis wholeheartedly believes big things are in store for RIM, and while it might be easy to dismiss his outwardly optimism as mere lip service, his investment of an additional $50 million in company shares speaks louder than words, though he had a few of those to spend as well.
The general consensus is that Research In Motion needs to do something drastic if it has any shot at all of restoring relevance and competing with Apple and Android. Swapping out co-CEOs Jim Balsillie and Mike Lazaridis for a single leader in Thorsten Heins might be a step in the right direction, but his insistence on staying the course isn't sitting well with investors during his first day on the job.
Research In Motion (RIM) is no longer at two-headed beast after it's Board of Directors acted on the recommendation of its co-CEOs Jim Balsillie and Mike Lazaridis to implement the succession plan they previously submitted to the Board, RIM said in a statement. The unanimous decision has been made to name Thorsten Heins as President and Chief Executive Officer, effectively immediately.