Co-CEO's Jim Balsillie and Mike Lazaridis are stepping down from the head of Research in Motion. The two leaders have been under heavy pressure from investors to step down and give command to new leadership. It looks like the Board of Directors has finally made that decision, after the stock price has been hammered mercilessly. RIM's stock still lies just a few points away from its all time lows.
Perhaps a new CEO can bring the momentum back to the company. It may take some time before there is a turnaround that pleases shareholders. The company's COO, Thorsten Heins, may be the one to take the new leadership role, in a move that mimic's Apple's appointing of their COO as the new Chief Executive Officer.
At this point in time, the RIM share price is baking in all the misfortune in the world for this company, which is rivalling Google and Apple. RIMM trades with a 4 PE ratio as investors expect earnings power to decline. Some quick changes in upper management could inspire new changes throughout the company and still has a chance of propelling the BlackBerry maker back in the game. It may take months before these changes are noticeable, but it's likely worth a try, to get the company back into motion.
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