1. 40blind40's Avatar
    :BlackBerry CEO Stands to Make $55.6 Million in Sale (Correct) - Businessweek


    Nice check Thorstein!!!

    BlackBerry Ltd. (BB) Chief Executive Officer Thorsten Heins stands to make $55.6 million if he sells the company and is ousted.

    That�s the amount he�s entitled to receive if BlackBerry has a change of control and Heins is pushed out by the new owners, according to a May proxy filing. The figure, which includes salary, incentive payments and equity awards, is based on BlackBerry�s stock price at the end of the fiscal fourth quarter. The plan was approved by shareholders at its annual meeting on July 9.
    Corbu likes this.
    08-15-13 05:57 PM
  2. Stephen Cooper's Avatar
    This isn't good.....too much incentive to not do well.

    Posted via the Super BlackBerry Z10
    Bonnie Bonzai and Blacklatino like this.
    08-15-13 06:07 PM
  3. the_sleuth's Avatar
    This should not surprise anyone. BOD is complicit in outrageous compensation to execs. Golden parachutes are the norm for CEOs. CEO is never laid off like employees whom perform all of the heavy lifting. Thorstein Heins will be compensated for his stewardship over +5000 employees dismissals, $3 Billion destruction in shareholder value, and for words of wisdom such as "tablets will not exist in 5 years".

    It's surprising his track record at Siemens led to his employment at BlackBerry C-suite. CEO is not truly accountable to shareholders. The reason is whether perform or fail there is always the sweet executive compensation package. Nothing has changed since the Financial Crisis and Great Recession. The elites will take care of themselves at the expense of the little guys.
    danprown, m0de25, rayzian and 4 others like this.
    08-15-13 06:10 PM
  4. MartyMcfly's Avatar
    I'm not surprised. CEOs are rewarded for screwing up all the time.

    Sent from my Galaxy S4 using Tapatalk
    FastLane228 and howarmat like this.
    08-15-13 06:12 PM
  5. aminrajabi's Avatar
    Those kinds of number are normal for CEOs. In the long term it will be more beneficial financially for TH to turn the company around or figure out a solution that allows BlackBerry to survive.

    Then the market will know him as the guy that saved/fixed BlackBerry.

    Plus don't fool yourself, at that level ego is as important as money.

    Posted via CB10
    08-15-13 06:41 PM
  6. BBPandy's Avatar
    Those kinds of number are normal for CEOs. In the long term it will be more beneficial financially for TH to turn the company around or figure out a solution that allows BlackBerry to survive.

    Then the market will know him as the guy that saved/fixed BlackBerry.

    Plus don't fool yourself, at that level ego is as important as money.

    Posted via CB10
    Yea he would make more in the long run if BBRY continued. A large part of his salary is shares...thus the more the stock price goes up, the more he makes. Also, as a recall his contract had some sort of long term aspects. for example, If he stayed for 3 years he would get x amount of extra shares ect.
    08-15-13 07:00 PM
  7. lc474's Avatar
    Que the conspiracy theories
    08-15-13 07:13 PM
  8. h20work's Avatar
    I don't think Thor will make it to the end of the year. Unlike BlackBerry, I will be clear with my definition of year. This actual calendar year which ends Dec 31st.
    08-15-13 07:17 PM
  9. nabil114's Avatar
    :BlackBerry CEO Stands to Make $55.6 Million in Sale (Correct) - Businessweek


    Nice check Thorstein!!!

    BlackBerry Ltd. (BB) Chief Executive Officer Thorsten Heins stands to make $55.6 million if he sells the company and is ousted.

    That’s the amount he’s entitled to receive if BlackBerry has a change of control and Heins is pushed out by the new owners, according to a May proxy filing. The figure, which includes salary, incentive payments and equity awards, is based on BlackBerry’s stock price at the end of the fiscal fourth quarter. The plan was approved by shareholders at its annual meeting on July 9.
    He never had the management skills to take the company to the top. It is nice he is getting paid by the shareholders to agree to sell the offer they get.
    h20work likes this.
    08-15-13 07:20 PM
  10. trsbbs's Avatar
    That's what happened to the SantaFe railroad. The top dogs stood to make a fortune if they sold to the B&N railroad. So they sold it. Sad. Very sad.



    Verizon Z10. Running 10.1.0.4651. Posted via CB10
    08-15-13 08:04 PM
  11. pythons's Avatar
    :BlackBerry CEO Stands to Make $55.6 Million in Sale (Correct) - Businessweek


    Nice check Thorstein!!!

    BlackBerry Ltd. (BB) Chief Executive Officer Thorsten Heins stands to make $55.6 million if he sells the company and is ousted.

    That’s the amount he’s entitled to receive if BlackBerry has a change of control and Heins is pushed out by the new owners, according to a May proxy filing. The figure, which includes salary, incentive payments and equity awards, is based on BlackBerry’s stock price at the end of the fiscal fourth quarter. The plan was approved by shareholders at its annual meeting on July 9.
    Thorsten is a first class 'Rick Roller' so if anyone stands a chance of doing it, he does.....
    ... & before anyone freaks out if it wasn't Thor it would be someone else.
    ...So it might as well be him.

    BlackBerry CEO 55 million dollar windfall if company sold-astley460.jpg

    BlackBerry CEO 55 million dollar windfall if company sold-5761448bf1b93a9f871051dd5a604f4b.jpeg
    08-15-13 09:20 PM
  12. GTiLeo's Avatar
    This isn't good.....too much incentive to not do well.

    Posted via the Super BlackBerry Z10
    ultimatly its not his call, if the board sees hes not doign a good enough job out he goes, takes his settlement and is done theres more then enough cash for BBY to let him go if they see fit
    08-15-13 09:42 PM
  13. qwerty4ever's Avatar
    It's surprising his track record at Siemens led to his employment at BlackBerry C-suite. CEO is not truly accountable to shareholders. The reason is whether perform or fail there is always the sweet executive compensation package. Nothing has changed since the Financial Crisis and Great Recession. The elites will take care of themselves at the expense of the little guys.
    Makes you question the vetting process these C-level executives allegedly undergo as part of the pre-hire due diligence process. Dear Leader has ever incentive to run this ship into the sandbar and possibly onto the rocks. The shareholders should be ashamed of themselves approving such a compensation package for the failure of a CEO. At least Mike Lazardis built the company from nothing and handed the reins to Thorsten Heins whom single-handedly destroyed the company.
    danprown, robmac81 and not biased like this.
    08-15-13 09:51 PM
  14. Tre Lawrence's Avatar
    ... and we armchair CEOs do it for free? Unfair.
    08-15-13 09:54 PM
  15. amazinglygraceless's Avatar
    ...handed the reins to Thorsten Heins whom single-handedly destroyed the company.
    A bit over the top don't you think? While Mr Heins' performance has not acquitted him well the problems at BlackBerry started way before he was at the helm. Furthermore, while some are of the view that BlackBerry is circling the drain "destroyed" is incredibly hyperbolic at this stage.
    08-15-13 09:58 PM
  16. qwerty4ever's Avatar
    A bit over the top don't you think? While Mr Heins' performance has not acquitted him well the problems at BlackBerry started way before he was at the helm. Furthermore, while some are of the view that BlackBerry is circling the drain "destroyed" is incredibly hyperbolic at this stage.
    As the chief executive officer of the company Heins is singularly responsible for the actions/inactions of every subordinate which means every executive, employee, contractor, consultant, and intern.
    08-15-13 10:15 PM
  17. JonCBK's Avatar
    My friends company is being sold. Much smaller than bbry and the CEO is getting $20 mill. This is how it goes these days. We should object but there doesn't seem to be anyway to restrict compensation for these top level management guys. The boards are all made up of the same folks that have a chance at these levels of compensation. So the boards don't exercise much restraint. Shareholders don't seem to be able to coordinate any meaningful resistance.

    Sent from my Nexus 7 using Tapatalk 2
    08-15-13 10:19 PM
  18. amazinglygraceless's Avatar
    As the chief executive officer of the company Heins is singularly responsible for the actions/inactions of every subordinate which means every executive, employee, contractor, consultant, and intern.
    Yes, but you seem to want to blame him for all the actions/inactions of the CEOs before him. That is wrong-headed and fundamentally unfair.
    08-15-13 10:28 PM
  19. tchocky77's Avatar
    Every executive involved with this company is a consummate j6ck6ss. Since I started paying attention, the execs I've known of are Lazardis, Ballsillie, boulben, that dev relations guy, and TH.

    Every single one of them has been so demonstrably incompetent it takes your breath away. Just read some of the quotes these 6ssclowns generate. I'd call it a circus, but these chumps make clown college look like MIT. They have misunderstood every single market circumstance, and in most cases, done EXACTLY the wrong thing.

    Really just first-class buffoonery. I mean, top-drawer guys. Well done.
    Bonnie Bonzai likes this.
    08-15-13 10:40 PM
  20. BBThemes's Avatar
    A bit over the top don't you think? While Mr Heins' performance has not acquitted him well the problems at BlackBerry started way before he was at the helm. Furthermore, while some are of the view that BlackBerry is circling the drain "destroyed" is incredibly hyperbolic at this stage.
    while I agree their problems started way before with an old architechture and under specced handsets, its noteworthy that Thorsten was in charge of devices for a large part of his role at BlackBerry between 2007 and becoming CEO. he was SVP of handheld during the storm and storm2, style and tour. not saying its all his fault or that it was all on him, but he holds some responsibility for the poor device specs before he became CEO

    Anyways, I ask you this, if you knew you would get $55m for failing at your job, would that incentivise you to excel and be the best? I think its a fair question.
    Bonnie Bonzai and qwerty4ever like this.
    08-15-13 11:06 PM
  21. adamLocke's Avatar
    A few questions awaiting for answers: 1. The timing of launching the long awaited Q10, which suppose the savior for BB, has to be a few days following the disaster Q1 report, Customers has just lost all confidence of BB, and you expect them to invest in the purchase of this phone? 2. Again, the peculiar timing of halt trading then anouncement of intention of sale of the company has to be just 2 days before the launching of Q5, which may fetch a number of school children's purchase before school start. Now the world is out, the company is going bankrupt, who would buy a product at this time? 3. The strategic alignment ect, has been ongoing since 2012, why at this important pre-shool year sale time to make such a dramatic move, to attract attention of the world about your failures?
    mset, qwerty4ever, h20work and 1 others like this.
    08-15-13 11:27 PM
  22. BBThemes's Avatar
    A few questions awaiting for answers: 1. The timing of launching the long awaited Q10, which suppose the savior for BB, has to be a few days following the disaster Q1 report, Customers has just lost all confidence of BB, and you expect them to invest in the purchase of this phone? 2. Again, the peculiar timing of halt trading then anouncement of intention of sale of the company has to be just 2 days before the launching of Q5, which may fetch a number of school children's purchase before school start. Now the world is out, the company is going bankrupt, who would buy a product at this time? 3. The strategic alignment ect, has been ongoing since 2012, why at this important pre-shool year sale time to make such a dramatic move, to attract attention of the world about your failures?
    while I disagree with the bankrupt comment, they aren't going bankrupt, you don't have to be to sell your company. that's just the perception people have formed.
    I do agree with the rest, and sadly the rest is what formed the part that I disagreed with. BlackBerry have mishandled the timing of pretty much everything, then once mistimed have done nothing to diffuse the situation.
    08-15-13 11:32 PM
  23. nemo7's Avatar
    We need Steve Jobs to save BlackBerry...

    Posted z5
    08-16-13 01:21 AM
  24. notfanboy's Avatar
    Little did we imagine that when Heins said "sell like hell", it was really the company he was thinking about.
    08-16-13 02:19 AM
  25. cgk's Avatar
    Que the conspiracy theories
    You don't need to have a conspiracy theory to know that corporate remuneration for CEOs is broken and generally disconnected from proper incentives - but that's not a BBRY issue, it's a wider issue.
    bob_tn likes this.
    08-16-13 02:56 AM
69 123

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