RIM Ousts Former Stars

Once the king of the tech world, Research in Motion (RIM), the Waterloo, Ont.-based company that makes BlackBerry smartphones, is in disarray after announcing a major management shuffle yesterday. Gone are co-CEOs, Jim Balsillie and Mike Lazaridis, two men who spearheaded BlackBerry’s ascent in the world of smartphones. Their departure is a clear sign that shareholders are tired of losing market share to Apple and Google. The pair’s downfall can be traced to the release of lousy products software delays and a recent service outage. RIM is now looking for Chief Operating Officer, German-born Thorsten Heins to help the company get back on is feet. RIM shares were off 4.8 per cent at the opening of trading this morning.

– Peter Muggeridge