With Research In Motion's (Nasdaq:RIMM) market cap in a neck-and-neck race toward the bottom with its market share, the company had to do something to reverse course and stem the losses. While a change in leadership at the top is in fact a big move, it looks as though RIMM did not go far enough. In fact, investors may well be skeptical that this is simply old wine in a new bottle until proven differently.
Meet the New Boss
RIMM announced over the weekend that co-CEOs Mike Lazaridis and Jim Balsillie would step aside and that former co-COO Thorston Heins would take the reins as the new CEO. At the same time, Barbara Stymiest, a RIMM board member since 2007 and a former executive with Royal Bank of Canada (NYSE:RY) will become the Chair of the board of directors.
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