BlackBerry maker RIM co-CEOs step down

PanARMENIAN.Net - BlackBerry maker Research in Motion's co-CEOs, Jim Balsillie and Mike Lazaridis, announced Sunday, Jan 22 they will step down as co-CEOs of the once-iconic company that has struggled to compete in recent years, AP reports.

The RIM founders will be replaced by Thorsten Heins, a chief operating officer who joined RIM four years ago from Siemens AG, RIM said.

The Canadian company turned the e-mail smartphone into a ubiquitous device that many could not live without, but U.S. users have moved on to flashier touch-screen phones such as Apple's iPhone and various competing models that run Google's Android software. RIM has suffered a series of setbacks and has lost tens of billions in market value.

RIM said last month that new phones deemed critical to the company's future would be delayed until late this year. And its PlayBook tablet, RIM's answer to the Apple iPad, failed to gain consumer support, forcing the company to deeply discount it to move the devices off store shelves.

Many shareholders and analysts have said a change or sale of the company has been needed, but the sudden departure of the two founders wasn't expected despite their promises that they would examine the co-CEO and co-chairmen structure.

Balsillie and Lazaridis have long been celebrated as Canadian heroes, even appearing in the country's citizenship guide for new immigrants as models of success. They have headed Waterloo, Ontario-based RIM together for the past two decades.