Log in
Login
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 

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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/14/2013 | 05:06pm CEST

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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news on BLACKBERRY LTD
06/28 BLACKBERRY SECURITY SUMMIT : Sponsors, Speakers, Talk Topics Confirmed
06/27 BLACKBERRY : Classic Drives This Automotive Account Executive Through His Day
06/27 BLACKBERRY : Investing in the Right Partner to Accelerate and Advance BBM Global..
06/27 BLACKBERRY : AND EMTEK FORGE PARTNERSHIP TO ACCELERATE AND ADVANCE BBM’S C..
06/27 BLACKBERRY : and Emtek Forge Partnership to Accelerate and Advance BBM's Consume..
06/24 BLACKBERRY : (Re)Discover Your BlackBerry PRIV Keyboard
06/24 FREE STUFF FROM BBM : New Horoscope Channel and Ghostbusters Stickers!
06/24 BLACKBERRY : How PRIV Helps This Landscaping and Construction Business Owner Bui..
06/23DJMARKET SNAPSHOT : Stocks Close Higher As Wall Street Bets U.K. Will Vote To Stay..
06/23DJMARKET SNAPSHOT : U.S. Stocks Rally As Investors Bet U.K. Will Vote To Stick Wit..
Advertisement
News chart
Full-screen chart
Income Statement Evolution
More Financials