co-CEOs

RIM's leadership shakeup too little, too late?

commentary This may not have been the change people were looking for at Research In Motion.

RIM announced late tonight that its two CEOs, Mike Lazaridis and Jim Balsillie, are both out of the company. Taking over is Chief Operating Officer Thorsten Heins, a five-year RIM executive said to have been their heir apparent.

My initial impression on Lazaridis and Balsillie getting the boot? Finally. Few other CEOs would be around after a shepherding a company through the year RIM has had. Throughout 2011, RIM has seen its stock value plunge by more than 75 percent, fumbled the introduction of … Read more

RIM's co-CEOs step down; insider Heins takes helm

Research In Motion's co-chief executives have resigned their positions as part of a management shuffle, the company announced this evening.

Jim Balsillie and Mike Lazaridis, who will also relinquish their positions as co-chairmen, are stepping aside to allow Thorsten Heins, currently one of the company's chief operating officers, to become chief executive, effective immediately.

"There comes a time in the growth of every successful company when the founders recognize the need to pass the baton to new leadership," Lazaridis said in a statement. "Jim and I went to the Board and told them that we … Read more

RIM ready to name new chairman, report says

Research In Motion may be gearing up for an overhaul in its leadership.

Co-CEOs Mike Lazaridis and Jim Balsillie are preparing to relinquish their titles as co-chairmen, possibly giving way to independent director Barbara Stymiest, according to a report by the Financial Post. Stymiest is the leading candidate to replace the two, the Post said, citing anonymous sources.

RIM said in a statement that a committee of independent directors was reviewing the company's governance structure, and would report its findings by January 31. It added the committee is on track to meet this target, and that the board would … Read more

RIM investors pull proposal to split CEO role

An investor push for Research In Motion to split its dual-CEO structure was unexpectedly withdrawn today after an agreement was made with RIM.

RIM announced today that after discussions between the two groups, Northwest & Ethical Investments will withdraw its shareholder proposal before RIM's annual meeting.

In exchange, RIM will set up a board of directors committee that will look at the necessity of having a lead director on the board versus a chairman, whether co-CEOs Mike Lazaridis and Jim Balsillie need to have "significant" board-of-director-level titles, and provide guidance on whether to continue with the jointly … Read more

More calls to split RIM's CEO, chairman roles

The calls for Research in Motion to reconsider its current executive structure are getting louder.

Today major shareholder advisory group International Shareholder Services (ISS) added its voice to the mix, telling clients they should support a proposal to split the company's CEO and chairman roles. Mike Lazaridis and Jim Balsillie are co-CEOs and co-chairmen of the Waterloo, Ontario-based mobile computing company.

"The board's mandate is to represent the interests of shareholders through overseeing management and instilling accountability...Conflicts of interest may arise when one person holds both the Chair and CEO positions," ISS said today, according to Bloomberg. … Read more