Investors look for management change at RIM


Shares of Research in Motion (NASDAQ: RIMM) opened lower Wednesday after surging more than 7% Tuesday on investor hopes that a leadership change may finally be in the works for the Canadian maker of the BlackBerry smartphone and the Playbook tablet. Canada’s Financial Post says that independent director Barbara Stymiest is the most likely candidate to replace Jim Balsillie and Mike Lazaridis, who have been acting as co-CEOs and co-chairmen of the board at RIM. Stymiest is a former chief executive of the Toronto Stock Exchange and a former top executive at Royal Bank of Canada. She has been called RIM’s highest-profile director, and has been pressured by investors to push for a management change.

RIM stock is still trading at less than a quarter of its 2011 high, and its $8 billion market capitalization makes it a an affordable takeover target for deep-pocketed suitors that may want to increase their presence in the enterprise space, where RIM’s BlackBerry maintains many loyal customers. Amazon (NASDAQ: AMZN) reportedly offered to buy RIM during 2011, but was rebuffed by the board along with several other suitors.

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About Author

Martha DeGrasse

Editor, Wireless Infrastructure
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Martha DeGrasse is an editor at RCR Wireless News. Martha has been with RCR Wireless News since 2011. Her current focus areas are wireless infrastructure and heterogeneous networks. Prior to joining RCR Wireless News, Martha produced business and technology news for CNN and Dow Jones in New York. Martha left Dow Jones to move to Austin, Texas, where she managed the online editorial group at Hoover’s Online before taking a number of years off to be at home when her children were young. Follow her at Twitter @mdegrasseRCR