23
Jan

Research In Motion Limited (NASDAQ: RIMM), the maker of BlackBerry smartphones, has announced that its co-CEOs, Mike Lazaridis and Jim Balsillie, have stepped down. Lazaridis and Balsillie have been replaced by RIM’s COO Thorsten Heins.

RIM shares have opened lower in today’s trading following the departure of its co-CEOs. At last check, RIM shares were down 4.94% to $16.16.

In a conference call earlier today, Heins said that he was sticking to the company’s strategy. Peter Misek, analyst at Jefferies & Co., said that while the departure of co-CEOs does not necessarily change anything overnight, it does create a fresh chapter and open doors and possibilities. Misek said that among other things, the change of CEO provides a chance for companies who were considering partnering with RIM.

Lazaridis and Balsillie stepped down amid growing worries about RIM’s future. RIM has struggled to compete against the likes of Apple Inc.’s (NASDAQ: AAPL) iPhone and the Android-based smartphones. The company has consistently lost market share and has also been hurt by product delays.

RIM’s shares have fallen nearly 75% in the last one year, reflecting the problems the company faces.

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