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

Zach Epstein
July 7th, 2011 at 4:44 PM

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.”


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.

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