Member access

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

BLACKBERRY LTD (BB)

67
SummaryChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll news 

Research In Motion Ltd : RIM Former CEO No Longer Owns BlackBerry Maker Stock-Filing

02/14/2013 | 11:06am US/Eastern

TORONTO--Jim Balsillie, a former co-chief executive of Research In Motion Ltd. (BBRY) and one of Canada's richest men, has sold all his remaining shares in the company, according to a regulatory filing released Thursday.

Mr. Balsillie stepped down as co-CEO, and then from RIM's board, last year during a wide-ranging executive overhaul at the BlackBerry maker. Since then, he has retreated from the public spotlight. He had owned as much as 5.1% stake as recently as late 2011, but now holds no shares, according to the filing.

RIM opened up trading in New York down 92 cents, or 6.6%, at $13.07. That selling follows a 7.9% decline in RIM's share price on Wednesday.

Mr. Balsillie joined RIM in 1992, then a small company and the brainchild of co-founder Mike Lazaridis, who also stepped down as co-CEO last year but remains on the board and is still a major shareholder.

Mr. Balsillie was the hard-charging front man for the company, pushing BlackBerrys as the must-have device for politicians and businessmen. He helped expand the company internationally and build it into a recognized brand.

Before Mr. Balsillie's Thursday filing with the U.S. Securities and Exchange Commission, he had previously been one of RIM's biggest shareholders. He held about a 5.1% stake in RIM as of the end of 2011, according to the most recently available data, making him at the time the company third largest shareholder.

Mr. Lazaridis owned 5.7% of RIM, as of May 2012, according to RIM's most recent proxy circular.

Thorsten Heins took over from Messrs. Balsillie and Lazaradias as CEO in early 2012 and has bet the company's future on the newly launched BlackBerry 10 operating system and two new smartphone devices that will run off it.

-Write to Ben Dummett at ben.dummett@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Latest news on BLACKBERRY LTD
2d ago BLACKBERRY : Announces Availability of the BlackBerry Passport in Australia
4d ago BlackBerry shares up after unconfirmed report on possible Lenovo bid
10/15 BLACKBERRY : Passport to launch in South Africa early November 2014
10/08 BLACKBERRY : Picard Migrates to BlackBerry 10 Platform
10/07 BLACKBERRY : Launches the BlackBerry Passport in Hong Kong
10/02 BLACKBERRY : Study reveals productivity evolution underway; achievement and bala..
10/01 BLACKBERRY : Appoints Mike Daniels to the Board of Directors
09/30 BLACKBERRY : Named a Leader in Enterprise Mobile Management
09/29 AMAZON : BlackBerry teases new device plans as turnaround takes shape
09/26DJU.S. Stocks Rise Sharply
Advertisement
Chart
Duration : Period :
BlackBerry Ltd Technical Analysis Chart | BB | CA09228F1036 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF