Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Toronto Stock Exchange  >  BlackBerry Ltd    BB   CA09228F1036

SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

RIM's head of global sales leaving BlackBerry maker

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/24/2012 | 03:46am CEST

The head of global sales at Research In Motion Ltd has resigned to take on a leadership role in another industry, the BlackBerry maker said on Wednesday, a major blow ahead of make-or-break product launches due later this year.

Patrick Spence was a 14-year RIM veteran widely considered a rising star. A spokeswoman for RIM said Spence's last day with the company will be June 15.

Spence was promoted to the global sales role in July after serving as managing director for Europe, the Middle East and Africa.

A source close to the company told the Globe and Mail newspaper that Spence likely stepped down after being passed over for the chief operating officer role recently filled by Kristian Tear, who spent most of his career at Sony Corp, Ericsson, and their Sony Ericsson mobile phone joint venture.

Tear's role covers operational functions for handhelds and services, including research and development, global sales, manufacturing and supply chain management.

RIM has seen a steady stream of departures in the past year as its once-dominant market share has slipped amid fierce competition from Apple Inc and phones running on Google Inc's Android software.

London-based Spence helped launch a range of BlackBerry 7 devices last year and had also worked to decentralize RIM's sales planning so it fit better with regional sensibilities.

Spence joined RIM soon after graduating from the University of Western Ontario, before the company had created its first BlackBerry smartphone.

RIM spokeswoman Tenille Kennedy said the sales function will report directly to Chief Executive Thorsten Heins on an interim basis before coming under Tear when he starts work in coming months. RIM did not name a replacement for Spence or say where he was going.

Heins replaced longtime co-CEOs Mike Lazaridis and Jim Balsillie, who stepped down in January, and has moved quickly to clear house. Other key executives have also exited the company in the past year.

A chief operating officer, Jim Rowan, and head of software David Yach left in March, at the same time that Balsillie left the board. Other recent departures include Alan Brenner, a senior vice president for the BlackBerry platform, and Alistair Mitchell, a vice president for the BlackBerry Messenger instant messaging product.

The head of RIM's India unit left in November, its head of government relations left months before that, and former chief marketing officer Keith Pardy departed more than a year ago.

RIM said this month it had replaced Pardy with wireless veteran Frank Boulben, who has yet to start work.

Analysts expect RIM to struggle to sell its legacy devices - widely considered inferior to Apple's latest iPhone and high-end Android devices - for several quarters ahead of the planned launch of next-generation BlackBerry 10 phones later this year.

In July, RIM slashed 2,000 jobs, or about 11 percent of its workforce, to cut costs as sales and profit fell. [ID:nL3E7IP251] Its developer relations and sales and marketing teams were particularly hard hit.

The company posted a loss in its most recent quarter on the back of a writedown on unsold inventory and a slump in phone shipments.

RIM shares have fallen more than 80 percent from a peak of almost $70 in February 2011, to close at $11.09 on the Nasdaq on Wednesday.

(Reporting by Alastair Sharp in Toronto; Editing by Carol Bishopric and Richard Pullin)

By Alastair Sharp

Stocks treated in this article : Apple Inc., Google Inc, Research In Motion
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BLACKBERRY LTD
09/28DJU.S. HOT STOCKS : Hot Stocks to Watch
09/28 BLACKBERRY : Licenses Technology and Brand as Software Strategy Takes Ahold
09/28 BLACKBERRY : Announces First Major Device Software Licensing Agreement With Join..
09/28 BLACKBERRY : Announces Appointment of Steven Capelli as Chief Financial Officer
09/28 BLACKBERRY : Reports 89% Year Over Year Growth in GAAP Software and Services Rev..
09/28DJBlackBerry Outsourcing Handset Business
09/23BLACKBERRY LTD : half-yearly earnings release
09/22 BLACKBERRY : How this Canadian Trucking Firm is Saving Time and Money with Black..
09/22 BLACKBERRY : Radar Hits the Road With Caravan Transport Group
09/16 BLACKBERRY : New York Times Highlights BlackBerry’s WatchDox Software as W..
More news
Sector news : Wireless Telecommunications Services - NEC
09/28DJSAMSUNG ELECTRONICS : Looking Into Complaints About Replacement Galaxy Note 7s
09/28 MTN denies illegal transfer of $14 billion from Nigeria
09/27 High stakes for India's $84 billion airwave auction after Vodafone play
09/26DJROGERS COMMUNICATIONS : Canadian Video Streaming Service Shomi to Close at End o..
09/26DJIndian Stocks Emerge From the Crowd
More sector news : Wireless Telecommunications Services - NEC
News from SeekingAlpha
06:55a WALL STREET BREAKFAST : Pressure Builds On Wells Fargo
12:16a BLACKBERRY : It's About Time
09/28 BlackBerry strong after outsourcing move; no decision on latest phone
09/28 BLACKBERRY : Chen Does What's Necessary, But Too Late
09/28 BlackBerry's (BBRY) CEO John Chen on Q2 2017 Results - Earnings Call Transcri..
Advertisement
Financials ($)
Sales 2017 1 659 M
EBIT 2017 -37,3 M
Net income 2017 -741 M
Finance 2017 543 M
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018
EV / Sales 2017 2,30x
EV / Sales 2018 2,53x
Capitalization 4 359 M
More Financials
Chart BLACKBERRY LTD
Duration : Period :
BlackBerry Ltd Technical Analysis Chart | BB | CA09228F1036 | 4-Traders
Full-screen chart
Technical analysis trends BLACKBERRY LTD
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 34
Average target price 7,87 $
Spread / Average Target -5,5%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
John S. Chen Executive Chairman, President & CEO
Marty J. Beard Chief Operating Officer
James Yersh Chief Financial Officer
Barbara G. Stymiest Independent Director
Vivian Prem Watsa Lead Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
BLACKBERRY LTD-14.12%4 359
CHINA MOBILE LTD.10.10%253 324
AT&T INC.18.72%251 309
NTT DOCOMO INC4.44%99 853
KDDI CORP0.93%80 925
VODAFONE GROUP PLC0.95%77 280
More Results