Feeds

Top RIM jobs were too powerful and had to go - inquiry

BlackBerry biz shakeup demanded by independent review

Choosing a cloud hosting partner with confidence

Research in Motion (RIM) has handed out a largely moot independent report revealing that it shouldn't have had its CEOs as chairmen of the board.

The six-page dossier [PDF] was published on the BlackBerry maker's website late on Monday - a week after the Canadian biz lost its long-term co-CEOs-and-chairmen Mike Lazaridis and Jim Balsillie.

Both men remain on the board, but they were replaced with Thorsten Heins, former chief operating officer, as president and CEO, and Barbara Stymiest, board member since 2007, as chair of the board.

Back in April last year, RIM shareholder Northwest & Ethical Investments, called for the company to split the roles of chair and CEO and threatened to bring the issue to a shareholder vote. Many investors and critics of the firm had argued that Balsillie and Lazaridis held too much power in RIM.

In response, RIM formed an independent governance review committee in June to explore whether or not it should divorce the roles and examine its management structure. The panel came to the conclusion that RIM should separate the roles, although it stated that it was "comfortable our lead director has performed the appropriate governance functions of that position up to the present".

"The committee believes that appointing an independent chair is the appropriate solution for RIM shareholders and will resolve the issue for RIM and its employees and business partners," the report said.

The file also makes a point of saying that RIM's corporate structure was accepted practice in the US, where the majority of the largest 100 public companies didn't split the roles of chairman and CEO and didn't have independent chairmen. However, in Canada, where the firm is headquartered, it's typical to have an independent chairman.

Shareholder dissatisfaction has been rife at the firm in the last four years as stocks dropped from a height of $144.56 on the NASDAQ in June 2008 to around $17 today.

RIM has struggled to compete with new entrants to the smartphone sector it once dominated, where Apple and Android phones have overtaken BlackBerrys in popularity.

The biz hasn't had much luck in the tablet sector either, where its PlayBook has had a dismal reception that has left the company with backlogs of stock. ®

Internet Security Threat Report 2014

More from The Register

next story
Bladerunner sequel might actually be good. Harrison Ford is in it
Go ahead, you're all clear, kid... Sorry, wrong film
Euro Parliament VOTES to BREAK UP GOOGLE. Er, OK then
It CANNA do it, captain.They DON'T have the POWER!
Musicians sue UK.gov over 'zero pay' copyright fix
Everyone else in Europe compensates us - why can't you?
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Megaupload overlord Kim Dotcom: The US HAS RADICALISED ME!
Now my lawyers have bailed 'cos I'm 'OFFICIALLY' BROKE
Forget Hillary, HP's ex CARLY FIORINA 'wants to be next US Prez'
Former CEO has political ambitions again, according to Washington DC sources
prev story

Whitepapers

10 ways wire data helps conquer IT complexity
IT teams can automatically detect problems across the IT environment, spot data theft, select unique pieces of transaction payloads to send to a data source, and more.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.