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 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 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