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RIM’s co-CEOs Exit, Former COO Takes the Authority

Research in Motion, a struggling Canadian mobile company is going to get a major change in leadership as its much defamed co-CEOs Jim Ballsillie and Mike Lazaridis are quitting, according to The Wall Street Journal. This is certainly big news coming out of the Waterloo-based company. The former COO of the company, Throsten Heins will be one replacing the co-CEOs.

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It’s been quite some time that company’s board of directors and major stock holders calling up for the move. RIM was once the big name in the smartphone industry, but now it accounts for only 6% of the market share all over the world.

Both Lazaridis and Ballsillie remained in job for more than 20 years. However, both will remain the directors of the company for the fact that they hold big shares of the company.

Heins will certainly have its own plan for the company. RIM has been under a lot of trouble after getting a bad publicity over the recent few years because of certain missed dates and poor product performance as in case of PlayBook. One can clearly suggest that the company is handing over its enterprise market to Apple on a silver platter.


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The company has made couple of other changes to the board as well – appointing new member Prem Wastsa, the CEO of Fairfax Financial, a large RIM shareholder. However, he cleared that he was not included in the ones who expelled out Lazaridis and Ballsillie.

The Globe and Mail reports that Heins has its own plans regarding the future of the company and one such act would be to appoint new CMO. Heins said “It’s a fantastic growth story and it’s not coming to an end. What you will see with me is rigour and flawless execution.”

Now the question arises, whether Heins will be able to bring back the lost image of the company. The company closed at $17 per share on Friday, which is over $50 down from its 52 week high. There are rumors surfacing over the recent few days that the company is considering to sell out Samsung.

For now all eyes are on the Heins and he is pretty hopeful to take company back to its lost status. Here is what RIM’s new CEO has to say:

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