RIM accused of using ‘stall tactics’ to delay management changes

By on Jul 7, 2011 at 4:44 PM
Business July 7, 2011

Despite agreeing to address concerns over the shared Co-CEO and Co-Chariman roles held by Research In Motion bosses Jim Balsillie and Mike Lazaridis, the company again finds itself in hot water after a report from proxy advisor Glass Lewis & Co. was obtained by Bloomberg on Thursday. RIM announced in June that it would assemble a committee of independent directors to study the CEO and board roles, and then make recommendations as to whether or not the company should consider splitting the CEO and Chairman roles Balsillie and Lazaridis each currently hold. In its report, Glass Lewis wrote that the move was merely a stall tactic used to get Northwest & Ethical Investments LP to withdraw a motion it intended to put forward at RIM’s July shareholder meeting. “The appointment of independent board leadership does not require further study, but rather concrete action,” Glass Lewis analysts noted in their report. “While we commend the board for actively engaging with NEI in an attempt to reach a mutually agreeable solution, we are underwhelmed with the board’s continued avoidance of a commitment to appoint an independent chairman.”

Read

Tags:
, , , , , , , , , ,
21 Comments

Related Articles

  • Steve Jenkins

    And like clockwork……

  • Anonymous

    Get all the rim news in now before there is no rim to talk about. 

  • http://twitter.com/Treatz Treatz

    Twix also comes in 2′s

  • Robert Dunn

    Must be a slow news day today

  • Larry M

    RIMageddon IS UPON US

  • Batteman87

    What…..What are you talking about?…. 

  • http://pulse.yahoo.com/_HIGOSRCUCQYGGF7MZVKMEEP3CY Anonymous

    Dear BGR…get off RIM’s D**k…for real..not even crackberry covers that much bad mouthing about RIM…..

    • http://emmeff.myopenid.com/ EmmEff

      Fanboy

  • drew dogg

    Why is this even worth covering? Look RIM is obviously not doing to well but come on dude! BGR just wasted a few minutes of my life. Thanks.

  • Max

    Well well well if it isn’t jabba the hutt and empower palpatine.

  • serpentor

    These are not stall tactics. If you read what RIM actually said, “…agree to CONSIDER”, they never said they were going to actually do it.

    They can’t stall something they were never going to do.

  • Anonymous

    Well, at least there was one positive story about rim on iBGR for 2011.

  • Anonymous

    Both of them are just sitting around raking in millions and don’t care about RIM. The shareholders are just being used

  • Anonymous

    Lazaridis is Rim’s problem. From back several years ago listening to his bull shit when questioned about making better phones. His same old repeated answers, you could bring a tape recorder and play back his same answers to several hard pressed questions. This guy has lost the direction that Rim needs to be pushing. When asked about the high end smart phones his answer was they were making communicators, not smart phones, then flip the question the other way and then they were smart phones. Get rid of him, I started with blackberry, still own the 9700, use it in emergency, I always thought Rim could make a killer smart phone if they just got rid of the knuckleheads who are just slowing the down.

    • Drew

      Agreed!!! Lazaridis needs to kick rocks and stop speaking in public. He’s an embarrassment.

  • http://profiles.google.com/dominiccronshaw Dominic Cronshaw

    Forgive me for going to the base level on this, but Lazaridis looks like he’s taken a page out of Charlie Kelly’s book and started stuffing his gob with cheese as a nervous reaction.   In fact, I bet it was cheese injected with bacon bits, packed inside a sausage log, battered, crisp-coated and double fried.   Sweet jebbus, man, eat a salad and rethink coming into the office tomorrow.   In fact, why not see if there’s a cardboard box around your mega mansion that you might take in the next (last) time ya go.

  • Anonymous

    Nobody wants to type on physical keyboards.  true story™©®

  • http://twitter.com/fyrfyter33 fyrfyter33

    RIM is in the dumper as a company. Look at how long it has taken them, and still no new blackberry models to talk about. They are going to figure this out way too late for anyone to be able to fix. The company is screwed if they continue down this path.

  • Anonymous

    Captain Kangaroo should give baldy some of his hair.

  • Anonymous

    Why is RIM even relevant anymore.  Their products are swirling the bowl, the tablet was a flop and they push product our more half-baked than a WebOS product.  Clearly the analyst group should have just pushed ahead with their motion at the shareholder meeting.  Its pretty clear that RIM’s dual CEO/Chairman feel their loads of on hand cash can weather the storm.

    Hey RIM, news alert your employees are screaming for leadership, your execs are bailing faster than Skype fired their VP’s so they wouldn’t have to pay the stop options.  Get a clue, your about done.

    Oh and where exactly is that BBMessenger for iPhone & Android you were going to launch, oh yeah that’s likely dead too.

  • Anonymous

    Independent committee? What a joke.

    BTW, “Co-Chariman” is funny :)

blog comments powered by Disqus