Even though Jim Balsillie the former co-CEO of BlackBerry of the then called Research In Motion (RIM), stepped down from his duties in March of last year, he still owned 26.8 million shares of this Canadian company. However, just when it seemed that stock prices of BlackBerry’s shares had jumped up well and were looking to do fine in the future as well over positive feedback of the latest BB10 platform, Balsillie decided to liquidate all his shares. This news was unveiled through a SEC filing, which was made by none other than Balsillie himself on Wednesday, February 13th. This means that today Balsillie owns roughly zero shares of BlackBerry.
The reason for selling the entire stock of his shares is still not known, but the once largest shareholder of the company now has nothing to do with BlackBerry. Balsillie was not the only person who resigned from his duties in last March, as along with him former co-CEO Mike Lazaridis had also left his seat. The two former co-CEOs of BlackBerry did not resign from their duties willingly, as they had to step down because of shareholder’s criticism over the poor performance of this Waterloo-based company and the way its share prices were going down. Lazaridis still owns 29.9 million shares of the company and he is also currently serving BlackBerry in the capacity of vice chairman.
After Balsillie’s resignation, Thorsten Heins appeared on the scene and took the responsibilities of the CEO of BlackBerry. Later Heins put in a lot of effort to develop the latest BB10 platform of the company, a novel ecosystem that comprises of a brand new hardware and operating system. Due to his efforts, BlackBerry’s struggles slowly eased up, as in the first phase its share price climbed back to the double digit mark after hitting a low around $6 and then, continued to perform well over the positive reviews of the enterprises clients and telecom carriers, who tested the BB10 Dev Alpha device.
This positive feedback forced various tech analysts to change their stance on BlackBerry. In fact a number of them had increased the target price of this company’s shares. However, it’s too early to call the new BB10 platform of BlackBerry a hit because it has just launched its first device on February 5th, which was warmly greeted by the customers both in Canada and the United Kingdom, as it is yet to take a beat.
Photo: BlackBerryEmpire
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