BlackBerry maker RIM has been in the news a lot recently and not really for the best reasons, as speculation grows that the company could be about to be sold off. Today we have news that the two RIM CEOs leave the struggling company as fresh impetus is needed.
Jim Balsillie and Mike Lazaridis who were both responsible in getting BlackBerry to their previous position of the number one smartphone maker, have both stepped down from their positions with immediate effect. According to a report on The Telegraph German executive Thorsten Heins, will be taking the rein.
The iconic brand was once the device of choice for business executives and bankers alike for checking emails and other information when away from their PC. But along came the Apple iPhone and the Android platform to steal away the company’s market share. This saw both Mr. Balsillie and Mr. Lazaridis under pressure from the company’s investors as the RIM share price fell away.
This announcement comes ahead of the news of a management review into the company, but both former CEOs said the decision wasn’t down to the pressure from investors. Lazaridis who originally founded the company in 1984 will now be vice chairman, with Basillie remaining on the company’s board.
Since its peak in 2008 the company has lost more than $70 billion of its value, and continues to experience delays in releasing a new operating system. The BlackBerry PlayBook has not captured the public’s imagination while competing with Apple’s iPad. Thorsten Heins has said he will be looking to employ a new marketing chief, but whether it’s too little too late remains to be seen.
Do you think it’s too late for RIM?