BlackBerry Says Goodbye to CFO, COO, CMO
November 25, 2013 12:26 PM
comment(s) - last by
To top it off, BlackBerry board member Roger Martin has resigned
It looks like the
bush is getting another shake as more executives fall from its brittle branches.
BlackBerry announced yet another executive shakeup today. This time, Chief Operating Officer Kristian Tear and Chief Marketing Officer Frank Boulben are heading out the door.
But that's not all. Chief Financial Officer Brian Bidulka is departing his position as well, but will remain a special advisor to interim CEO John Chen until the end of BlackBerry's fiscal year. BlackBerry's James Yersh will take over the CFO position.
To top it off, BlackBerry board member Roger Martin, who has held that spot since 2007, has resigned.
"I thank Kristian and Frank for their efforts on behalf of BlackBerry. I look forward to working more directly with the talented teams of engineers, and the sales and marketing teams around the world to facilitate the BlackBerry turn-around and to drive innovation," said Chen, Executive Chair and CEO of BlackBerry. "I also thank Brian for his eight years of dedicated service to BlackBerry. I look forward to working with James and his Finance team as we move forward, execute on our plans and deliver long-term value for our shareholders."
BlackBerry had one of the biggest executive shakeups of the year earlier this month when it was announced that
former CEO Thorsten Heins was stepping down
. At that time, it was also announced that David Kerr (on BlackBerry's Board of Directors) was resigning from the board.
Yep. This about sums up the state of BlackBerry. [SOURCE: Tech Week Europe]
BlackBerry, once a big player in the mobile gadget realm with its popular BlackBerry smartphones and OS, has fallen to competitors like Apple and Samsung in both the consumer and corporate/government markets. In 2011, BlackBerry had 14 percent of the U.S. smartphone market, and now, it has less than 3 percent.
This means that BlackBerry's wallet is taking a big hit. The company reported a loss of $84 million in the quarter that ended June 1, as well as a decrease of 4 million subscribers. In September, it expected a GAAP
net operating loss
of $950 to $995 million, and a cut of 4,500 jobs. As of March, BlackBerry had 12,700 employees.
BlackBerry's board of directors announced the formation of a Special Committee to
explore strategic alternatives
back in early September to enhance the value and accelerate the development of BlackBerry 10 (BB10) -- the company's latest operating system and line of devices that launched in January. The announcement came only a few days after a
that BlackBerry might go private in an attempt to fix its problems away from the public.
BB10 was supposed to save the company earlier this year, but it didn't take off the way BlackBerry expected. Both BB10 hardware releases -- the Z10 and Q10 -- have largely flopped. T-Mobile even took BlackBerry devices off of its shelves.
Earlier this month, BlackBerry
ditched previous buyout plans
in favor of $1 billion in funding from Fairfax Financial Holdings Limited and other institutional investors. Back in September, Fairfax Financial planned to pay $4.7 billion in a BlackBerry buyout, but the new agreement is a hefty investment for BlackBerry to right its own wrongs.
This article is over a month old, voting and posting comments is disabled
RE: The reason doesn't matter.
11/26/2013 9:25:24 AM
That's what I've been saying for the last 2 years. Pity that Blackberry decided to commit suicide instead. They would have been pretty insulated against the Android lawsuits, their IP portfolio is pretty good. I imagine that someone will buy them for it eventually and then turn out the lights.
"Spreading the rumors, it's very easy because the people who write about Apple want that story, and you can claim its credible because you spoke to someone at Apple." -- Investment guru Jim Cramer
BlackBerry Takes Investment Over Buyout; CEO Thorsten Heins Stepping Down
November 4, 2013, 9:30 AM
BlackBerry to Explore "Strategic Alternatives" to Complete Restructuring Efforts
August 12, 2013, 8:58 AM
Report: BlackBerry Could Go Private
August 9, 2013, 9:16 AM
New Qi Version 1.2 Allows Wireless Charging From 2 Inches Away
July 31, 2014, 3:53 PM
HTC J Butterfly Announced by Japan's KDDI, Packs LTE-A Carrier Aggregation
July 31, 2014, 2:34 PM
T-Mobile Subscriber Numbers Surpass 50 Million, Sees Q2 Profit of $391M
July 31, 2014, 12:24 PM
Verizon Wireless Launches 5.7", 960x540 LG G Vista Smartphone for $400 Off Contract
July 31, 2014, 11:02 AM
Mini-Me: Xperia Z3's Petite Companion, Xperia Z3 Mini Leaks
July 31, 2014, 9:40 AM
Samsung Reports Lower Smartphone Sales, Operating Profit Falls 25% YoY
July 31, 2014, 8:55 AM
Most Popular Articles
Facebook Will Force Android, iOS Users to Use Messenger App This Week
July 29, 2014, 11:26 AM
Sony's Xperia Z3 Gets Detailed in Leaked Photos
July 25, 2014, 2:30 PM
Ford's Extensive Use of Aluminum in '15 F-150 Results in $395 Increase for Base Models
July 28, 2014, 3:02 PM
Pentagon's Priciest Project, F-35, Misses International Debut
July 25, 2014, 10:18 AM
T-Mobile CEO John Legere is on the Warpath Again; Introduces $100, 10GB Family Plan
July 28, 2014, 10:12 AM
Latest Blog Posts
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information