RIM's Co-Chairmen May Have to Relinquish Their Titles

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Posted January 3, 2012 at 6:02pm by iClarified

Research in Motion may be preparing for a corporate shakeup that would see co-founders Mike Lazaridis and Jim Balsillie relinquish their titles as co-chairmen of the board, according the Financial Post.

Barbara Stymiest, an independent director who joined RIM's board in 2007, is believed to be the leading candidate to replace Messrs. Balsillie and Lazaridis as chair, sources familiar with events said.

A committee of seven independent directors of RIM's board, including Ms. Stymiest, have been examining the company's board structure, including the merits of having an independent chair rather than a lead director and the "business necessity" for Messrs. Lazaridis and Balsillie - who are also co-CEOs - to hold significant board titles.

The report is scheduled to be delivered by January 31st and the company's board members with have 30 days after that to respond to the recommendations.

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RIM's Co-Chairmen May Have to Relinquish Their Titles

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Maded - January 4, 2012 at 4:23am

Youth has relatively little to do with creativity. But agreed that more creative individuals are definitely needed at RIM if they want to maintain any sort of competitive edge. I think they've lost too much ground already though.

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Notch - January 3, 2012 at 11:30pm

The walking dead, shuffling around aimlessly, waiting to join Palm in the ground.

dbvdvd - January 3, 2012 at 7:04pm

About time.

Darkster - January 3, 2012 at 9:42pm

Probably too little too late, they just never gained traction once iOS and Android took over market share and they lost a majority of government contracts.