BlackBerry executives to face disappointed shareholders at annual meeting - Macleans.ca
 

BlackBerry executives to face disappointed shareholders at annual meeting

Smartphone giant had been expected to turn a proft in the second quarter


 

WATERLOO, Ont. – The executives at smartphone maker BlackBerry (TSX:BB) are expected to be in the hot seat today as the company holds its annual meeting.

Shareholders are expected to quiz the company about its recent financial results that fell short of expectations and clobbered BlackBerry shares.

The company reported a loss for its most recent quarter, when most analysts had expected BlackBerry to turn a profit, and chief executive Thorsten Heins said that further losses were expected in the next quarter.

The shareholder meeting is the first since the company released its new Z10 and Q10 smartphones running the BlackBerry 10 operating system earlier this year.

The new devices have been seen as the company’s last hope to turn itself around after losing ground to Apple’s iPhone and other Android-powered smartphones.

BlackBerry will also ask shareholders to vote to officially change the company’s name from Research In Motion to BlackBerry.


 
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