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Mobile & Wireless

RIM shareholder calls for change in management

Friday 16 December 2011 | 10:13 CET | News
Jaguar Financial, a shareholder in Research In Motion, has called for a change in management at the BlackBerry maker and a possible sale of part or all of the company. Jaguar called for a separation of the chairman and CEO roles at RIM, noting the company had a plan in place for this in 2007 already but has yet to implement the changes. Jaguar also asked the other board members to put pressure on the two co-CEOs to improve corporate governance at the company. Vic Alboini, chairman and CEO of Jaguar, said investors have "lost faith" in the ability of RIM's current management to turn around the company. "Unless the independent directors push to replace management or change RIM's strategic focus, Jaguar believes that the road map to value restoration lies in a sale of RIM whether as a whole or in separate parts," he said. As RIM has "lost its ability to compete in the consumer hardware business", Jaguar wants the company to consider selling or spinning off to shareholders the handset business, while monetizing its patent portfolio and focusing on the services business.

Categories: Mobile & Wireless
Companies: Research In Motion
Countries: World
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