Bowing to the demands of angry investors, Research In Motion, the Canadian manufacturer of BlackBerry smartphones, is to name an independent director as chairman of the company, as its co-CEOs Mike Lazaridis and Jim Balsillie are ready to step down, according to a report.
Independent director of RIM Barbara Stymiest is being tipped to take over the reins of the company, says the Financial Post.
Stymiest, who served as a chief operating officer at Royal Bank of Canada and as a chief executive of the Toronto Stock Exchange, joined the RIM board in 2007.
In a statement, the company said on Tuesday that the committee is on track to meet this schedule and the Board will then publicly respond to the recommendations of the committee within 30 days.
RIM’s move has been prompted by its indifferent performance and plummeting share prices. This has forced the company to extend its discounts on PlayBook tablets, which will be sold at a flat price of $299 until February.
