Mobile Tech Today

CIO Today Network Sites:   Top Tech News  |   CIO Today   |   Mobile Tech Today   |   Data Storage Today
News & Product Reviews for Mobile Tech Users
Vblock™ Systems:
Advanced converged infrastructure
increases productivity & lowers costs.

www.vce.com
Thursday, April 24th 
24/7/365 Network Uptime!
Trending Topics:   Security Heartbleed Big Data Cloud Computing Windows XP Data Centers OS X Mavericks
Home
Laptops & Tablets
Mobile Phones
Mobile Gadgets
Mobile Apps
BYOD & MDM
iPad
Mobile Industry News
Wireless Connectivity
Wireless Security
GPS & Maps
MTT Press Releases
 
Free Newsletters
Top CIO News
 
Mobile Tech Today
 

Mobile Industry News

RIM Ex-CEO Cashed Out Ahead of BB10 Launch

RIM Ex-CEO Cashed Out Ahead of BB10 Launch
February 15, 2013 3:20PM

Bookmark and Share
Although former co-CEOs Jim Balsillie, pictured, and Mike Lazaridis recommended a succession plan that ultimately led to them handing over the reins, there could be some ill will involved as many believe it was more of a forced exit than a willing succession. An SEC filing shows Balsillie unloaded all his RIM stock at the end of 2012.

Your Next Generation Data Center Is Here! Vblock™ Systems: the world's most advanced converged infrastructure are built on the Cisco Unified Computing System with Intel® Xeon® processors. Vblock™ Systems deliver extraordinary time to market, ROI and TCO, and flexibility to meet your continually changing demands with 5X faster deployment, 96% less downtime, and 1/2 the cost. Click here to learn more.

With the corporate rebranding, the new mobile operating system and new devices coming to market, all eyes are on BlackBerry. But one of the company's largest shareholders decided it was time to cash out.

Jim Balsillie, the former co-CEO and a significant shareholder in the struggling mobile device company, decided to sell all his stock at the end of 2012. Balsillie sold off 26.8 million shares in what was then Research In Motion.

The stock sale was revealed in an SEC filing this week and occurred just about a month before BlackBerry unveiled the new BB10 mobile operating system and Z10 keyboard-less handset. Depending on exactly when Balsillie sold his shares, he could have collected between $167 million and $396 million, according to a report in The Guardian.

Not a BlackBerry Indictment

The timing seems odd to those who are holding out hope that the new look and feel will revitalize the troubled company. Kevin Restivo, an analyst with IDC, tweeted that any time a single shareholder with over 5 percent of the float dumps everything, fellow investors should care. He continued, "A cynic might say Jim Balsillie's dumping of BlackBerry stock around product launch time is a big middle finger to his ex-colleagues."

Although former co-CEOs Balsillie and Mike Lazaridis recommended a succession plan that ultimately led to them handing over the reins, there could be some ill will involved as many believe it was more of a forced exit than a willing succession.

As part of the succession plan, Lazaridis stepped into the role of vice chairman of RIM's board and chairman of the board's Innovation Committee. Balsillie remained on the board for a period, but has since exited. Lazaridis remains on the board.

Michael Disabato, managing vice president of network and telecom at Gartner, told us he understands why Balsillie is cashing out now -- he has no influence on the direction BlackBerry takes. But what does this say about Balsillie's confidence in the new product operating system and hardware?

"I don't think this is an indictment against BB10. I think it's a logical approach," Disabato said. "There was a huge announcement coming out and a transient view that BlackBerry is doing something good and that the stock price would rise. My guess is he tried to ride that rise up and sell at what he thought was the peak to maximize his return."

Room for BB10?

BlackBerry's decision to postpone the release of BB10 to 2013 left the platform vulnerable in 2012 and reliant primarily on older smartphones running on BB7, according to a recent IDC report.

As a result, IDC said, BlackBerry's tight grip on enterprise users has loosened and its popularity within emerging markets has been diminished by the competition. Now that BlackBerry has unveiled BB10, the firm continued, the company is faced with migrating current BlackBerry users to upgrade while persuading smartphone users of other platforms, including previous BlackBerry users, to switch.

"With the recent introductions of two new smartphone platforms we expect some ground to be made by the new entrants over the coming years," said Ryan Reith, program manager for IDC's Mobile Device Tracker suite. "There is no question the road ahead is uphill for both Microsoft and BlackBerry, but history shows us consumers are open to change. Platform diversity is something not only the consumers have asked for, but also the operators."

Tell Us What You Think
Comment:

Name:



 Mobile Industry News
1. OnePlus One Boasts Android Weapon
2. Samsung: $2.2B Too Much for Apple
3. Microsoft-Nokia Deal Closes this Week
4. Mobile Ad Platform From Facebook?
5. Google, Rockstar Suit Stays in Calif.




 Most Popular Articles
1. Google Glass Finds a Home in Medical Education, Practice
2. HP Rolls Out New Software-Defined Network Products
3. Smartphone Kill Switch Could Save Users $2.6B a Year
4. Avaya Aims To End Network Waiting Game
5. Google Video Shows Off Modular Project Ara Phone

Have an informed opinion on this story?
Send a Letter to the Editor.
We want to know what you think.
Send us your Feedback.

 Related Topics  Latest News & Special Reports

  Opera Coast Offers Safari Alternative
  Salesforce Developing App SOS Button
  What Might an Amazon Phone Offer?
  OnePlus One Boasts Android Weapon
  Samsung Gear Fit Geared for Exercise

 Technology Marketplace
Business Intelligence
Get real-time, cloud-based information services with Neustar.
 
Cloud Computing
Next Generation Data Center Is Here! Vblock™ Systems from VCE
 
Contact Centers
HP delivers the future of the contact center with HP Qfiniti 10.
 
Data Storage
Next Generation Data Center Is Here! Vblock™ Systems from VCE
Barium Ferrite (BaFe) is the future of tape.
2.5" Enterprise-class SATA & SAS SSDs for server & storage applications
 
Enterprise Hardware
Barium Ferrite (BaFe) is the future of tape.
2.5" Enterprise-class SATA & SAS SSDs for server & storage applications
 
Hardware
Protect your network with APC Smart-UPS battery backup
 
Network Security
Protect your network with APC Smart-UPS battery backup
 

Network Security Spotlight
Tech Giants Fund Initiative To Prevent Future Heartbleeds
Can more funding prevent Heartbleed vulnerabilities in future open-source software? A new Core Infrastructure Initiative at the Linux Foundation is attempting to find out.
 
What Verizon's Data Breach Report Can Teach Enterprises
It’s probably not a jaw-dropper, but cyberespionage is officially on the rise. And the use of stolen or misused credentials is still the leading way the bad guys gain access to corporate information.
 
Top Cyberthreats Exposed by Verizon Report
Beyond Heartbleed, there are cyberthreats vying to take down enterprise networks, corrupt smartphones, and wreak havoc on businesses. Verizon is exposing these threats in a new report.
 
Navigation
Mobile Tech Today
Home/Top News | Laptops & Tablets | Mobile Phones | Mobile Gadgets | Mobile Apps | BYOD & MDM | iPad
Mobile Industry News | Wireless Connectivity | Wireless Security | GPS & Maps | MTT Press Releases
Also visit these Enterprise Technology Sites
Top Tech News | CIO Today | Mobile Tech Today | Data Storage Today

Services:
FreeNewsFeed | Free Newsletters | XML/RSS Feed

About CIO Today Network | How To Contact Us | Article Reprints | Services for PR Pros (In partnership with NewsFactor) | Top Tech Wire | How To Advertise

Privacy Policy | Terms of Service
© Copyright 2000-2014 Mobile Tech Today. All rights reserved. Article rating technology by Blogowogo. Member of Accuserve Ad Network.