Ex-BlackBerry CEO sells off entire shares of company
Research In Motion BlackBerry may have a new name and a dazzling new OS, but clearly that isn't enough to satisfy some people.
In a document disclosed by BlackBerry over the weekend, the company confirmed that ex-CEO Jim Balsillie no longer has any shares in the company. Balsillie previously held 26.8 million shares in the company, but sold them off to the tune of roughly $362 million.
Balsillie and co-CEO Mike Lazaridis were head of the company until last March, but were forced to step down after harsh criticism from investors over the future of the company, especially after BlackBerry's much-hyped tablet the Playbook opened to mediocre sales. Current CEO Thorsten Heins took over the company, and has since helped to launch the company's new flagship OS, the Blackberry 10, as well as the Z10 (our verdict here) and Q10 handsets. But despite a strong push from the company, many analysts were both impressed and disappointed with the Z10, and continue to wonder whether the once-powerful handset manufacturer can stay afloat much longer.