Could be ready to bow to shareholder pressure and replace Mike Lazaridis and Jim Balsillie.
The Financial Post says Barbara Stymiest could replace the co-founders and become the first ever independent single chair of the company. She joined RIM’s board in 2007, and has been on the committee of seven currently appraising the much-criticised board structure.
This committee was set up to assuage investors who were clamouring for a big shake-up. Its report will be delivered at the end of this month.
Lazaridis and Balsillie own 12 per cent of RIM’s shares, and have shared the top job at RIM since they founded it. But after a horrible year in which shares fell 75 per cent, their reign looks set to end.
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Although it goes without saying, a simple switch in CEO will not fix RIM's problems. It starts at the top and trickles its way down as RIM will have to see major restructure of not only leaders within the company but also their processes and how they plan on getting back on the map. Hopefully we will see great things from RIM in the future as they still have hope with access to superior technologies and patents.
Glen Suh
www.tapit.com
Glen Suh Jan 4th 2012 at 9:43PM
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