After two decades at the helm of Research in Motion, co-chief executive officers Jim Balsillie and Mike Lazaridis stepped down from the top job, Bloomberg reports. They will be replaced by Thorsten Heins, a little-known chief operating officer who joined the company four years ago from Siemens AG. The surprise exit of RIM’s power couple comes after shareholders became concerned that the duo couldn’t keep the BlackBerry maker competitive against fast-growing rivals Apple and Google. Lazaridis, who founded RIM in 1984, will stay on as vice-chairman; Balsillie as a board member; and both will remain significant shareholders.
RIM CEOs step down
Shareholders had long been asking for a management shuffle
FILED UNDER: RIM