Former BlackBerry CEO Jim Balsillie Sells All Of His Stock In The Company

Posted Feb 14, 2013

Jim Balsillie is the former co-CEO of BlackBerry (formerly known as Research In Motion) that sold off all of his stake in the company according to a regulatory filing.  About a year ago, Balsillie was the largest shareholder in the company with 26.8 million shares.  Balsillie was the co-CEO of the company with Mike Lazaridis.

Balsillie stepped down this past March due to criticism of the way that the company was run.  BlackBerry peaked and hit many rock bottoms during his position as the head of the company.  The stock price plummeted so Thorsten Heins came into replace Jim and Mike.

BlackBerry recently announced a couple of new phones and the new BlackBerry 10 operating system.  Lazaridis, the vice chairman of BlackBerry, still owns 29.9 million shares in the company.

[Source: CNET / Thumbnail credit: Wikipedia]