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BlackBerry CEOs Step Down

Time to get an iPhone? Research in Motion Ltd. (RIM), which makes BlackBerry, has replaced its co-chief executive officers, Jim Balsillie and Mike Lazaridis, who have run the company for two decades. The company’s chief operating officer, Thorsten Heins, will takeover as CEO, while director Barbara Stymiest will become chairman. Lazaridis will take on a new role as vice chairman and Balsillie will stay on as a board member. RIM’s stock fell 75 percent last year. Lazaridis said of the decision, “This marks the beginning of a new era for RIM. It was a bit of a bumpy ride. We’ve done it as best we could. Thorsten is the ideal choice. He has the right skills at the right time.”

January 22, 2012 10:52 PM