The RIM investors are restless, and apparently there are murmurings for a new CEO to replace the two co-CEO’s currently running the Blackberry empire.
“These guys are very emotionally invested, taxed for time, and feel the pressure of being left behind and seeing your market fade away,” said an investor at a top-30 fund that would likely support but not instigate an activist play.
In an open letter ahead of the BlackBerry conference, Northern Securities analyst Sameet Kanade asked RIM to consider dropping Balsillie as a co-CEO, among other recommendations. (Reuters)
Unfortunately for some of the investors, Balsillie and Lazaridis both share power not only as co-CEO’s, but also apparently as chairman of the board (note: do they rotate with each other?)
Forcing either of them out would require not only a large amount of cash (as one has to buy up a certain percentage of stock), but also a viable plan from the rebel investor to challenge Apple and Android in the upcoming smartphone wars.
Although it’s doubtful that RIM can recover from the blow Apple dealt them during the launch of the iPhone, Blackberry does have a shot of thriving in the tablet arena (as the company is beating everyone save iPad 2).
That latter fact might be Balsillie’s key towards silencing his critics (although if TouchPad steals the silver from Playbook, it might be over for both co-CEO’s).
Do you think RIM should replace their co-CEO, or should the company come up with a better strategy for their Blackberry phone?
(Image via Blackberry Insight)
Originally posted on May 30, 2011 @ 5:13 pm
Blackberries are nice. I always use them at home. Even the blackberry fruit is nice too. i always eat them for my snacks. `*;;;
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i use both blackberry and iphone and i love to blackberry as well. isnt that funny hehe. ‘
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