RIM Replaces Co-CEOs With One: Thorsten Heins
Jim Balsillie remains a member of the Board. “I agree this is the right time to pass the baton to new leadership, and I have complete confidence in Thorsten, the management team and the company,” he said. “I remain a significant shareholder and a Director and, of course, they will have my full support.”
Mr. Lazaridis said that he decided to move from Co-Chair to Vice Chair of the Board in order to return the public’s focus to what is most important: “the great company we have built, its iconic products, global brand and its talented employees.”
Mr. Lazaridis added, “Thorsten has demonstrated throughout his tenure at RIM that he has the right mix of leadership, relevant industry experience and skills to take the company forward. We have been impressed with his operational skills at both RIM and Siemens. I am so confident in RIM’s future that I intend to purchase an additional $50 million of the company’s shares, as permitted, in the open market.”
But here's the real question: will it make any difference? The new guy is from RIM, and he's probably had a hand in not exactly innovating over the past few years. What'll change now? We would have rather seen an outsider come in and truly shake things up, but instead it'll be an internal employee trying to do things differently than he has seen them over the past few years. Best of luck -- the market's a tough one.