WATERLOO, Ontario – After 20 years together at the helm of Blackberry manufacturer Research In Motion Ltd. (RIM), Jim Balsillie and Mike Lazaridis -- the company's co-chief executives -- said they planned to turn over the top job early Monday to a little-known company insider as part of a board and management shuffle.
For months, investors have clamored for a significant strategic overhaul, fresh leadership or a sale of the company as it struggled to stay competitive with rivals Apple and Google amid operational blunders and a tumbling share price, The Wall Street Journal reported.
That revamp is expected to begin with the appointment of RIM chief operating officer Thorsten Heins to replace the pair.
The surprise exit of Balsillie and Lazaridis from the top slots was a significantly more aggressive step than many critics had expected, according to the Journal. However they will remain as directors and shareholders.
"In every successful company that's developed by founders," Lazaridis said in a statement quoted by The New York Times, "there comes a time when it enters a new phase of growth and it's time for the founders to pass the baton to new management."
Heins is a 54-year-old German who joined the Canadian company in 2007, according to the Financial Times.
He said, "I'm here to ensure that RIM remains one of the top three wireless leaders in this industry.
"I want to maintain the focus on enterprise, but we need to communicate a bit more with our consumers. We need to do more marketing."
RIM's share of the US smartphone market declined during the three months ending in November, AFP reported, while Apple and Google's Android platform both made gains.
The Waterloo, Ontario-based RIM saw its share of US smartphone subscribers fall to 16.6 percent at the end of November from 19.7 percent at the end of August, according to industry tracker comScore.
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