∞ RIM co-CEOs praise themselves as the company burns around them

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It’s hard to tell how executives will react after delivering poor quarterly results, but praising themselves probably isn’t the first thing that comes to mind.

[ad#Google Adsense 300x250 in story]Unfortunately for RIM shareholders, that’s exactly what happened last night. After announcing weaker than expected shipments of BlackBerrys, weak PlayBook shipments, poor financials, and a lower outlook for next quarter, co-CEOs Jim Balsillie and Mike Lazaridis praised their leadership of the company, according to quotes from the call posted on AllThingsD.

“Mike and I would like to address some of the concerns that have been expressed surrounding the executive management structure at RIM and, specifically, the joint nature of our leadership,” said Balsillie. “Mike and I have been partners in this business for almost 20 years, and during that time RIM has grown to $20 billion in annual revenue. We are currently approaching the tail end of a significant transition in our business, that, frankly, few companies would have survived. But we have. And I believe, and I think Mike would agree, that neither of us could have taken RIM this far alone.”

“I agree with Jim’s comments,” Lazaridis added. “Our co-CEO arrangement is what led to RIM’s success over the past two decades.”

Well then, I guess everything is okay at RIM. Here I thought there might be some trouble brewing.

Jim and I have the perfect balance to make the hard decisions,” said Lazaridis. “This is fun. … We’re changing the world. We’re transforming the way people work. … We birthed a tablet in a year! … We transitioned to a new operating system!”

Guys, you are not changing the world — the world is laughing at you. The only reason you birthed a tablet in a year is because you are so far behind Apple, you had no choice but to come out with something, and that wasn’t very good.

The co-CEOs just don’t seem to see the writing on the wall. In fact, like they over-promised and under-delivered with the PlayBook, Balsillie is promising great things for RIM devices later this year and how they are “a quantum leap over anything that’s out there.”

Something needs to change.



  • Steven Fisher

    Research In Motion lacks the ability to reinvent itself, or even realize it’s in need of reinvention. Stockholders, meanwhile, lack the technical knowledge to realize the company is becoming increasingly irrelevant.

    Sure, something could SUDDENLY happen. But short of that SUDDENLY, Research In Motion is doomed. And they well and truly deserve it.

    • http://mangochut.net/ mangochutney

      I disagree. The CEOs and the rest of the c-level as well as the board of director deserve to be let go. They should bear the consequences of their mistakes, not the rest of the company.

      • Steven Fisher

        When I said they deserved it, I was referring to the company as a whole, based on the actions and decisions of their board and CEOs. Obviously, I wouldn’t wish a loss of employment on any of the employees. Just to be clear. :)

  • YossarianLives

    Were they simply reading out their resumé to get a headstart when the hunt for new jobs come?

  • Anonymous

    It’s Palm all over again. Once market leaders, asleep at the wheel. Shame they only wake up when they hit that brick wall that everybody else can see coming.

  • PepeObrian

    Someone needs to buy them out like maybe HP 

  • http://www.facebook.com/people/Bob-Forsberg/100001387343371 Bob Forsberg

    An excellent innovator 8 years ago, treading water today. I should have sold my RIMM stock when Apple introduced the 1st iPad.