RIM restructures top shelf: Appoints Heins as CEO, Stymeist as Chairman
Thorsten Heins, the new chief executive, was one of the company’s chief operating officers. Analysts said Sunday that RIM’s decision not to appoint a well-known executive from outside the company with a reputation for turning companies around might have been a mistake.
Barbara Stymiest, the former banker and stock exchange executive who’s been ranked among the world’s most powerful businesswomen, now faces a new challenge helping turn around Research In Motion Ltd., the BlackBerry maker that’s lost 90 percent of its market value in less than four years.
Stymiest, 55, a RIM director since 2007, was named chairman of the Waterloo, Ontario-based company, replacing former co- Chairmen and co-Chief Executive Officers Jim Balsillie and Mike Lazaridis.
“They’ve not only built an iconic brand, they literally pioneered the smart phone industry,”
Stymiest said in an interview, referring to Balsillie and Lazaridis.
With the new position, Stymiest shifts from banking and finance to technology, as the smartphone seller tries to stem a plunge in sales and declining market share to bigger competitors such as Apple Inc.
She retired from her post last year as a senior executive with Royal Bank of Canada, the country’s largest bank, saying she wanted to devote more time to board work, charity and lowering her handicap in golf. She last served as group head of strategy, treasury and corporate services at the Toronto-based bank.