RIM founders step down under investor pressure
Research In Motion shares dropped more than nine per cent Monday with the news that the founders of the troubled technology company, Jim Balsillie and Mike Lazaridis had stepped down and a new CEO named from within the executive ranks...
|
24th January 2012
Lazaridis will be the vice chairman of the company's board, and Balsillie will stay on as a director.
The new CEO and former COO Thorsten Heins said during a conference call with analysts on Monday that radical changes will not be made in the near future, with the company simply choosing to renew focusing on the consumer market.
"I don't think that there is a drastic change needed," Heins said. "I want us to have a bit more of an ear toward the consumer market and understand trends — and not just do what the Street is telling [us]."
RIM have faced intense pressure from shareholders recently as the company has failed to compete with consumer favourites such as Apple and Google, resulting in dwindling market sales, and shares dropping nearly 90 per cent since peaking in 2008, and falling 75 per cent in 2011 alone.
© iStart Technology in Business www.iStart.co.nz
View all latest news
12/01/24_ex_h |
View all latest news
 
|
