∞ Analysts downgrade RIM, shareholders dissatisfied with co-CEOs

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After reporting disappointing results for its fiscal first quarter, four analysts downgraded the company. One analyst said “it appears RIM has slipped into eroding mismanagement.” Large shareholders of the company’s stock are also demanding RIM split the CEO and chairman roles, which are currently shared between Mike Lazaridis and Jim Balsillie.

Northwest & Ethical Investments LP has called for RIM to separate the roles of chairman and CEO, and shareholders will vote on that question at the company’s shareholder meeting July 12, according to a RIM proxy statement last week. Separating the two posts does put the board in a better position “to ask the CEO the kind of hard questions they have to ask from time to time,” Robert Walker, vice president of ethical funds at Northwest & Ethical, said in an interview last week.

RIM Shareholder Ups Pressure as Stock Plunges [Bloomberg]


  • http://mangochut.net/ mangochutney

    I wonder whT will come of this, because RIM needs to get it’s act together fast.

  • Anonymous

    While they are separating the posts, they should also separate the two co-CEO’s from the posts and the company.

  • http://twitter.com/Moeskido Moeskido

    It would be darned interesting to hear anything about what RIM’s Board of Directors feel about their company’s current state.