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RIM expected to name new chairman
04 January 2012
BlackBerry smartphone maker could be forced to name new chairman following investor pressure
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Canadian BlackBerry smartphones maker Research In Motion could appoint an independent director to chair the company following pressure from investors, according to the Financial Times. Barbara Stymiest has been tipped off to take up the position.
According to reports in Canada’s Financial Post, the company’s co-CEOs, Jim Balsillie and Mike Lazaridis, will step down from their additional responsibilities as co-chairmen. The company recently appointed an independent directors’ committee to assess its corporate governance reports. According to the FT, the committee will report its findings to the investors by January 31.
RIM has come under investors’ pressure following its weak financial results coupled with falling share prices. The company is already finding it difficult to expand its market share as it faces tough completion from Apple’s iPhone and rival smartphones using Google’s Android operating system.
According to the FT, certain stakeholders have recommended that Lazarides and Balsillie must give up their responsibilities and give way to a new management. The two co-CEOs, however, said that they have taken steps to bolster the company’s profitability. GTB
Further reading from Global Telecoms Business:
Telefónica launches payment trial with RIM 24 Nov 2011
RIM 'may bid' for Nortel patents 18 Apr 2011
The smartphone market is there to be won 10 Dec 2010
BlackBerry to launch BRIC investment fund 29 Oct 2010