RIM to name new chairman – report

3 Jan 2012

RIM co-founders, co-CEOs and co-chairmen Jim Balsillie (left) and Mike Lazaridis

Research in Motion (RIM) co-founders and co-CEOs Mike Lazaridis and Jim Balsillie may give up their posts as co-chairmen of the board under pressure from shareholders, the Financial Post has reported.

The report says the company is getting ready for a shakeup at board level, which would oust Lazaridis and Balsillie as co-chairmen and replace them with Barbara Stymiest, an independent director who joined RIM’s board in 2007.

RIM, the maker of BlackBerry smartphones, has reportedly been under pressure to change its management structure for months.

In July, the company agreed to an independent governance review, in part to avoid a confrontation at its annual general meeting. That review is to issue its report by 31 January.

In response to the Financial Post report, RIM only said the governance review is proceeding on schedule.