Blackberry CEOs to step down

The co-chief executives of Blackberry-maker Research In Motion (RIM) have stepped down as part of a shake-up at the firm.

The co-chief executives of Blackberry-maker Research In Motion (RIM) have stepped down as part of a shake-up at the firm.

Mike Lazaridis, who founded RIM in 1984, will become vice chairman, while Jim Balsillie will continue as a director but will not have any operational role.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

They are replaced by chief operating officer Thorsten Heins, who came to RIM in December 2007 from the industrial conglomerate Siemens AG.

"There comes a time in the growth of every successful company when the founders recognize the need to pass the baton to new leadership," said Lazaridis.

"Jim [Balsillie] and I went to the Board and told them that we thought that time was now.

"With BlackBerry 7 now out, PlayBook 2.0 shipping in February and BlackBerry 10 expected to ship later this year, the company is entering a new phase, and we felt it was time for a new leader to take it through that phase and beyond," he added.

MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.