Barbara Stymiest Being Considered As New Chairman Of RIM
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry
Research In Motion has lost a ton of smartphone marketshare to Android and iOS. The company is also struggling to compete against the Apple iPad in the tablet market. This is why RIM co-founders Mike Lazaridis and Jim Balsillie may give up their titles as co-chairmen according to sources with The Financial Post. Reportedly RIM is considering hiring Barbara Stymiest. Stymiest is currently an independent director that joined RIM’s board in 2007. Lazaridis and Balsillie would still have prominent roles on the board of directors if they were to be replaced by Stymiest.
Stymiest is the former head of TSX Group Inc. and the former COO at Royal Bank of canada. In the past Lazaridis and Balsillie have indicated that they are not ready to be replaced from their dual roles. Together they own 12% of RIM’s outstanding shares, which makes them the second and third largest shareholders in the company. The seven independent directors at RIM have been strongly in support of Lazaridis and Balsillie remaining as the heads of the company.