Former BlackBerry CEO Balsillie Sold Off All His Stock
The last few years have been tough on BlackBerry (formerly known as RIM/Research In Motion). In the last 12 months, the company has appointed a new CEO and is hoping that the launch of BlackBerry 10 will be enough to turn things around. However, it seems former CEO Jim Balsillie isn't sticking around to see if BB10 puts his old company back on the road to success.
CNet News cites a regulatory filing in reporting that Balsillie has sold off all of his BlackBerry shares. Apparently, Balsillie was one of the largest individual shareholders last year with 26.8 million shares. It's not clear when Balsillie dropped his shares, but a filing made public today shows he no longer holds any BlackBerry stock at all. The document reports that Balsillie has zero shares as of December 31, 2012.
Current CEO Thorsten Heins was named President and CEO of RIM in January of last year. At the end of January he took the stage in New York to launch BlackBerry 10. The first BB10 handset on the market is the Z10, which will be followed by the Q10 later this year.