Mike Lazaridis and Jim Balsillie – RIM’s co-CEOs Resigned

At last Blackberry maker Research In Motion’s (RIM) both CEO, Mike Lazaridis and Jim Balsillie had to succumb to the pressure from  the investors and resigned from the top positions as co-CEOs and co-chairmen of the company.

Mike Lazaridis and Jim Balsillie

The resignation marks the end of an eventful partnership lasted over two-decades between Lazaridis and Balsillie which was started on 1985.

RIM which pioneer in making e-mail based mobile Blackberry is currently struggling due to lack of innovation against Apple’s iPhone and Google’s Android phones.

“There comes a time in the growth of every successful company when the founders recognize the need to pass the baton to new leadership. Jim and I went to the board and told them that we thought that time was now ,” Lazaridis said in an interview at RIM’s Waterloo headquarters.

Thorsten Heins took over as CEO while Barbara Stymiest will take over as chairman of RIM.

Both Lazaridis and Balsillie however will remain as RIM’s board members.

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