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Consumer Electronics

Co-Chairs May Finally Lose Their RIM Jobs (RIMM)

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By Jon C. Ogg Updated Published
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It was just on Friday that we named Research in Motion Limited (NASDAQ: RIMM) as being one of the thirteen worst big stock stories of 2011.  This case is one that is mostly a management driven SNAFU.  There is good news… Management may be changing very soon.  Word is out from the Financial Post in Canada that co-CEOs and co-Chairmen Jim Balsillie and Mike Lazaridis could be facing action in the form of a management change.

At question is whether this is a break-up of the roles or whether it is an EXIT of one or both roles. The report this morning from the Canadian news outlet is indicating that independent board member Barbara Stymiest is the lead candidate as Chairman.

Right now the market will take whatever it can get.  Shares are up over 8% at $15.69 and there are just no known catalysts that are out there that might lead to a turnaround.  The obvious observation is that the company needs both new leadership and perhaps a new design team that can create an Apple-killer or an Adroid-killer.

JON C. OGG

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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