Under intense pressure from a group of shareholders, Research in Motion Ltd. is preparing to unveil a corporate shakeup at the beleaguered BlackBerry maker that could see co-founders Mike Lazaridis and Jim Balsillie relinquish their titles as co-chairmen of the board, according to sources.
Barbara Stymiest, an independent director who joined RIM’s board in 2007, is believed to be the leading candidate to replace Messrs. Balsillie and Lazaridis as chair, sources familiar with events said.
A committee of seven independent directors of RIM’s board, including Ms. Stymiest, have been examining the company’s board structure, including the merits of having an independent chair rather than a lead director and the “business necessity” for Messrs. Lazaridis and Balsillie — who are also co-CEOs — to hold significant board titles.
Too little and too late.
Attempts to plug the gaping holes in the SS RIM's hull are now playing in the theater of the absurd.
RIM's board has played lapdog to the two overlords for more than a decade - so NOW they realize the error of their ways? Sorry kids, I'm not buying this. It's waaaaaaayyyyyyyy behind schedule and the smartphone train left the station many moons ago.
There are no Lazaruses that can resurrect them.
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