Former Co-CEO Jim Balsillie Now Owns No Part Of BlackBerry

This morning the media is all over the news that former co-CEO of Research In Motion now owns zero stock in the company we now call BlackBerry.  

Here's the official SEC filing indicating that Balsillie now has no stock.  He cleared out all holdings by December 31, 2012.  

This really shouldn't surprise anyone.  I have known Balsillie for many years.  It's not like we had beers together at the local pub or anything, but people who have been around the technology sector on Bay Street in Canada since around the year 2000 have gotten to know Jim's personality pretty well.  He's very competitive, very involved, and very opinionated.  So when he and Mike Lazaridis stepped down from the co-CEO roles, and Jim then stepped down from the board, it was a clear sign he was not staying involved with the company in any way.

It was widely rumored that he had a strategy disagreement with the board.  Knowing Jim's opinionated personality I'm not at all surprised that he sold every share.

Comment below, is this the end of BlackBerry and Balsillie knows? Is this in retaliation to being booted from his co-CEO role at BlackBerry? Let us know what you think....

RIM Could Open Up BlackBerry Network To Others

The Q1 earnings news from RIM of layoffs and a delay in its next generation of handsets has unsurprisingly led to some rumors from the usual "people familiar with the situation," according to Reuters. The options reportedly being considered by the board probably also won't shock you, like the possibility of following former co-CEO Jim Balsillie's plan to open up its network to others and / or sell it outright. 


An alternative path comes from Microsoft and Steve Ballmer, who has reportedly been putting a full court press on the folks in Waterloo to pull a Nokia and bring their arms to the Windows OS camp. That choice is reportedly less attractive because it would mean giving up technology independence, but we'll see how long that feeling lasts if future earnings projections remain similarly dismal.

RIM To Pay $12 Million To Mike Lazaridis And Jim Balsillie

Mike Lazaridis and Jim Balsillie, the co-founders of Research In Motion creator of BlackBerry, will be receiving $12 million for stepping aside as co-chief executive officers, according to a company document filed on Thursday.

The document noted Mr. Lazaridis and Mr. Balsillie “revolutionized the worldwide wireless industry with the introduction of the BlackBerry and forever changed how the world communicates,” the company said in a management circular that it had entered into transition agreements with the two executives.

Jim Balsillie who stepped down to an ordinary director during the management shakeup and later completely left the company will receive an entitlement of $7.9 million. Mike Lazaridis remains as the vice-chair of the board with responsibilities for innovation and still has the use of a dedicated office, as well as a company car with a driver. Lazaridis will receive a compensation of $3.9 million.

Additionally, the filing notes Thorsten Heins financial arrangements with RIM. Mr. Heins, who joined RIM several years ago after a long stint in senior roles at the top of the German conglomerate Siemens AG, received about $1.9-million in total compensation in fiscal 2011. His compensation increased with the promotion to about $10.2-million in fiscal 2012.

RIM Announces Organization Changes Within BlackBerry

As RIM rolls out Q4 2012 financial earnings, they've also gone ahead an announced some recent changes within the organization and ultimately their Board of Directors:

"As I complete my retirement from RIM, I'm grateful for this remarkable experience and for the opportunity to have worked with outstanding professionals who helped turn a Canadian idea into a global success," said Jim Balsillie.

"On behalf of the Board and everyone at RIM, I would like to thank Jim for his 20 years of service to RIM," said Barb Stymiest, Chair of RIM's Board of Directors. "His energy, drive and enthusiasm helped build one of the most successful technology companies of our time."

In addition, David Yach will be retiring from his role as CTO, Software after 13 years with the Company and after 4 years with the company and following an open dialogue on the future of global operations, Jim Rowan, COO, Global Operations, has decided to pursue other interests. The Company is currently undertaking a search to hire a single COO with responsibilities to run the Company's operations.

"RIM would like to thank David Yach and Jim Rowan for their years of service and many contributions to RIM," said Thorsten Heins, President and CEO. "We wish them well in their future pursuits."

RIM Releases Q4 Earnings Report; Balsillie Resigns As Director, CTO And COO Both Given The Boot

With expectations at an all-time low and analysts lowering estimates left and right, Research In Motion on Thursday reported its results for the fourth fiscal quarter of 2012. RIM posted a surprising beat in the third fiscal quarter when it managed earnings of $1.27 per share on $5.2 billion in sales. At the same time, however, the Waterloo, Ontario-based BlackBerry maker issued worse than expected fourth-quarter EPS guidance of between $0.80 and $0.95, and it said revenue would likely fall between $4.6 billion and $4.98 billion. RIM has now confirmed adjusted net income of $0.80 per share, on revenue of $4.2 billion. Read on for more.

RIM said it shipped 11.1 million BlackBerry smartphones and more than 500,000 PlayBook tablets last quarter. Smartphone shipments came in at the low end of its forecast of between 11 million and 12 million units. Wall Street was expecting earnings of $0.81 per share and $4.54 billion in revenue. In the fourth fiscal quarter of 2011, RIM posted a profit of $710 million, or $1.27 per share, on $4.08 billion in sales.

The company confirmed that RIM co-founder Jim Balsillie will step down as director and leave the company.

RIM is also expected to confirm during its earnings call that multiple top executives will be laid off as part of a significant corporate restructuring. The news was first reported by The Globe and Mail.

The struggling smartphone vendor said it is facing significant challenges, and it is currently reviewing strategic opportunities and potential partnerships. RIM also said that its first BlackBerry 10 smartphone is on track to launch in late 2012.

Former CO-CEO And Director Jim Balsillie Leaves RIM

RIM’s former co-CEO and current director of the board Jim Balsillie is leaving RIM. “As I complete my retirement from RIM, I’m grateful for this remarkable experience and for the opportunity to have worked with outstanding professionals who helped turn a Canadian idea into a global success,” Balsillie said in a statement.

RIM’s Jim Balsillie And Mike Lazaridis Step Down, Names Thorsten Heins New CEO

Board Acts on Recommendation of Co-CEOs to Implement Succession Plan - Mike Lazaridis Named Vice Chair of the Board - Jim Balsillie Remains a Director - Barbara Stymiest Named Independent Board Chair - Prem Watsa Named Independent Director

WATERLOO, ONTARIO, Jan 22, 2012 (MARKETWIRE via COMTEX) -- The Board of Directors of BlackBerry(R) maker Research In Motion (RIM) /quotes/zigman/18534/quotes/nls/rimm RIMM +0.53% /quotes/zigman/18555 CA:RIM -3.09% today announced that, acting on the recommendation of its Co-Chief Executive Officers to implement the succession plan they previously submitted to the Board, it has unanimously named Thorsten Heins as President and Chief Executive Officer. Mr. Heins was also appointed to RIM's Board. The Board acted after conducting its own due diligence. Both appointments are effective immediately.

Mike Lazaridis, former Co-Chair and Co-CEO, has become Vice Chair of RIM's Board and Chair of the Board's new Innovation Committee. As Vice Chair, he will work closely with Mr. Heins to offer strategic counsel, provide a smooth transition and continue to promote the BlackBerry brand worldwide.

Mr. Heins said he looks forward to continuing to work with Mr. Lazaridis, globally recognized as a technology pioneer. He said, "Mike created a whole new way of communicating and I look forward to continuing our close collaboration."

RIM Board Looking To Replace co-CEOs Mike Lazaridis And Jim Balsillie As Chairman

The Financial Post is reporting that the RIM board may soon be looking to replace co-CEOs Mike Lazaridis and Jim Balsillie as chairman. According to the report, RIM is facing constant pressure from the shareholders and is looking to replace the current co-chairman roles with Barbara Stymiest, an independent director who joined RIM's board back in 2007. A committee of independent directors have been examining the structure of RIM's board, and while Lazaridis and Balsille would remain co-CEOs, a single chairman would take their place on the board of directors.

What are your thoughts? Would this be a good move for RIM? Sound off in the comments!

Source: Financial Post

RIM CEOs Jim Balsillie and Mike Lazaridis reduce their salaries to $1 per year

Early on in the Third Quarter 2012 Earnings Call today, Jim Balsillie took the reigns as we anxiously awaited news on the results. He prefaced the third quarter results by stating that both he and Mike Lazaridis will be lowering their salaries to just $1 per year. Woah. A pretty amazing move by the CEOs here, but we'll have to see how it pans out long term and if it will hold any benefit to the financial situation. Balsillie and Lazaridis have already lost their millionaire status and the shareholders are still looking to split the CEO and chairman roles.