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RIM to be Change in management

The Co-Chief Executives of Research in Motion (RIM), Mike Lazaridis and Jim Balsillie, might soon be stepping down from their post as Barbara Stymiest is being prepared by the company to substitute them. At present, Barbara Stymiest is an independent member of RIM’s board.

Commenting on activities taking place at RIM, the BGC Partner Analyst Colin Gillis, said, “Any talk about an independent chairman is going to give this company a boost. It will increase the likelihood the value of this company will be unlocked. It breaks the stranglehold the current CEOs and co-chairs have on the company”.

Although there are some who believe that the transformation would boost the working of the company, some analysts are doubtful over the capability of Stymiest of taking up the role and challenges al alone. Following the rumors, the shares of the firm witnessed a hike of 7%.

It has been reported that Mike Lazaridis and Jim Balsillie are not only enjoying top position, but are also second and third-largest shareholders of RIM. It is believed that their reluctance in bringing large changes in the firm even at the time of poor sales of PlayBook tablet computer has made the firm to substitute them with Barbara Stymiest.

RIM is not only facing plunge in the sales of Tablet, but also in the sales of BlackBerry. With the pursuit of improving its image in the US market, RIM has extended the discounted sales of its PlayBook at a rate of $299. It has been informed that RIM will continue to hold discounted sales till February.

RIM launched PlayBook last year in the month of April and since then, it has sold about 850,000 units of PlayBook. In 2011 a drop in the prices of share of RIM was witnessed which made the analysts to recommend an outright sale of the company. The firm is yet to take decision over the recommendation.

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ainna nurul


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