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RIM board discusses “business necessity” of current chairs

It seems that not all is well at the RIM (Research in Motion) towers, as the board is considering sacking the chairmen and founders of the firm in order to get out of the red.

By on January 05, 2012 at 00:00 AM
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RIM board discusses “business necessity” of current chairs

As a quick reminder, trouble started hitting the BlackBerry manufacturer late last year when its own server gave up for a few days resulting in users not being able to use their handsets, and a significant drop in sales followed shortly.

 

According to anonymous sources close to the brand, the board is open to various options, including letting go Mike Lazaridis and Jim Balsillie(but possibly leaving them as CEOs) after poor sales and consumers' refusal to embrace the firm's own tablet, PlayBook.

 

The company had to discount the tablet heavily in order to sell off the remaining products.

 

The source also revealed a rumour that Barbara Stymiest, currently an independent director, might get a boost to become chairman of RIM.

 

However, industry insiders were very sceptical about the news, with Matthew Thornton, analyst at Avian Securities, saying to Reuters:

 

"She's being thrust into the limelight to appease shareholders. It doesn't really do much for me personally."

"This one action doesn't solve anything, in my mind."

 

According to the rumours, the "business necessity" of Lazaridis and Balsillie, as the board referred to it, is discussed among other aspects in a bid to bring the business back on track.

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