Description: Jim Balsillie and Mike Lazaridis, who made the BlackBerry a leading business tool but then presided over its precipitous decline, said they would step down on Monday as co-chairmen and co-chief executives of Research in Motion.
Source: nytimes .com
Date: Jan 22, 2012
Stiff competition from the Apple iPhone and phones using Google’s Android software drastically eroded RIM’s share of the American smartphone market to about 9 percent in the third quarter of 2011 from nearly half the market two years earlier, according to Canalys, a market research firm based near London. The company’s stock price reflected that by dropping about 75 percent in the last year.
But while Mr. Balsillie and Mr. Lazaridis, who have become the targets of some disgruntled shareholders, are stepping aside, investors and others looking for changes in the company’s strategy may be disappointed. Read Rest of Story
Questions for discussion:
- Will the resignation of the co-chairman tune around the fortunes of RIM in the Tech marketplace?
- Why do you think that RIM has declined so rapidly in their market space?
- What does RIM need to do to turn this situation around and get back to being a market leader in this market space