RIM has announced that Jim Balsillie and Mike Lazairidis have resigned their position as co-CEO and co-Chairman, and that RIM’s board of directors unanimously named former chief operating officer Thorsten Heins as president and CEO. Barbara Stymiest, CEO of the Toronto Stock Exchange will become independent board chair.
Heins already faces a number of significant challenges. Rim continues to struggle against rivals, especially in the US market. Product launches have been flawed, and the roadmap forward is unclear. Heins himself is seen as a fresh set of hands to run the business, but is not widely viewed as the visionary leader that RIM needs to reset the bar for a failing brand.
If Heins is to capitalize on the opportunity, and for RIM to have a genuine chance at regaining momentum, his first step will be to stabilize initiatives already underway and prevent any short term missteps. It will also be critical that Heins quickly brings serious management and creative talent to the table – quelling some of the fire sale rumors and giving shareholders confidence in a long term strategy.
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