According to a report in the Financial Times, Research in Motion’s board is preparing to oust co-chairs Mike Lazaridis and Jim Balsillie due to intense pressure from shareholders who watched RIM’s stock price drop over 75% in 2011. Independent director Barbara Stymiest is rumored to be the front runner to replace Lazaridis and Balsillie who will remain co-CEOs of the company.
Research in Motion board looking to replace Lazaridis and Balsillie with new Chairman of the Board: Sources say
by Robb Dunewood | Jan 3, 2012 | BlackBerry | 4 comments
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I’d be willing to bet that these guys fight this. They are the biggest individual investors, and, I believe together hold over 10% RIM’s stock. The cant’ really be ousted,but, would have to agree to step down.
These two are arrogant enough to believe that they can actually get RIM turned around and will ride the stock down to zero before they ever give up control.
Agreed, their arrogance is why RIM is circling the drain right now.
Just rumors of a management change send RIM shares up almost 9%. Lazaridis and Balsillie need to take a hint…
Shareholders and even your employees have no confidence in your ability to run this company anywhere but further into the ground.
Please step aside from both you co-chair and co-CEO roles and give my retirement fund a change to recover….
Kind of like closing the barn door after the cows have already escaped. This should have been done last year, it may already be too late for RIM to recover.