Click to Skip Ad
Closing in...

Lazaridis and Balsillie to be ousted as co-chairmen, report claims

In light of increased pressure from shareholders, Research In Motion is preparing to replace current co-chairmen of the board Mike Lazaridis and Jim Balsillie. The Financial Post on Tuesday reported that RIM will soon shake up its corporate structure, likely removing both company co-founders from their current board seats. The pair would remain co-CEOs and a new single chairman would be appointed in their place. According to the Financial Posts's unnamed sources, independent director and RIM board member Barbara Stymiest is currently the front-runner to replace Lazaridis and Balsillie. In response to increased shareholder unrest, RIM agreed this past summer to assemble a committee that would investigate splitting the co-CEO and co-chairmen roles. Stymiest is a member of the committee carrying out the investigation, and she has been a member of RIM's board of directors since 2007. RIM's stock was up 2% on the rumor in pre-market trading.


Zach Epstein

Zach Epstein has worked in and around ICT for more than 15 years, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications in the US and around the world. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.

Popular News