[jscan44]

Two More Executives Leaving BlackBerry
EVP of Global Sales, Official in Charge of M&A Strategy to Depart in Weeks

Two More Executives Leaving BlackBerry - WSJ.com

TORONTO�The leadership upheaval at BlackBerry Ltd. BB.T +2.07% continues under interim Chief Executive John Chen, according to people familiar with the matter.

The smartphone maker's executive vice president in charge of global sales, Rick Costanzo, will be leaving the company by early next year, according to these people. Chris Wormald, who was in charge of BlackBerry's mergers and acquisitions strategy, will be gone by the end of this month, according to one of these people.

Both men, long-term employees, couldn't be reached for comment. The company declined to comment.

Their departures would come just weeks after BlackBerry's chief marketing officer, chief operation officer and chief financial officer left the Waterloo, Ontario, company, which scrapped a plan to sell itself last month when it named Mr. Chen interim chief executive.

More
BlackBerry's Next Move
When Mr. Chen took over, he told employees during a town-hall meeting, "Things are going to get worse before they get better," and that, "Not all of you will be here," according to a person in attendance that day.

Large-scale layoffs were already under way. Saddled with a large inventory of unsold phones and weak sales, BlackBerry said it September it would shed 4,500 employees, of about 40% of its workforce.

Mr. Chen was tasked with picking up the pieces from the failed effort to sell BlackBerry and with figuring out a way forward for a smartphone maker that no longer sells many smartphones. How he plans to do that remains unclear.

Mr. Chen's only public comment so far has been in an open letter to the company's business clients, in which he wrote that BlackBerry is "very much alive."

Analysts and investors will be looking for more specifics from Mr. Chen this Friday, when the company announces its fiscal third-quarter earnings. Most analysts expect almost every financial metric to have worsened.

[SubCamp]

Yep, good on Chen. Get some new people in that get his strategy with the company.. I think we'll see an acquisition or two in the coming weeks


Posted via CB10

[eddy_berry]

You know what? I welcome this. I hate to see people lose their jobs, but I can see why the positions would be unnecessary moving forward. These higher paid positions should be let go to keep more lower paid guys like developers and engineers. It would also mean a consolidation of efforts by current managers, which makes their jobs that much tougher, but gives the company a better chance at survival. Looking forward to a leaner, meaner BlackBerry. Show us your mettle Chen. If he can pull this off in the next few year he will be the unofficial rebound king. I really hope he does. Fingers crossed. I hope those guys that have been let go find great opportunities awaiting them.

[m1kr0]

I simply deplore when companies reward incompetence and I absolutely welcome this purge. Sorry if you loose your job but it is not your money you are working with: it be longs to the investors and you did not make the grade.

Posted via the Android CrackBerry App!

[Signhere]

Yeah, I don't like cheering job losses, but can we really expect the same group that plunged BlackBerry into this mess to be the same group that propels it forward? Good luck to the employees affected and good luck in your future endeavors.

Posted via CB10

[Chaplain_Clancy]

I've never known an exec working for a major company to go from big time to unemployment line. These guys will be fine and there will be a fresh perspective for the comany. Now if it was mail room staff, that would be worrying.

[00stryder]

Sorry to read about more departures from BlackBerry, but as others said it's likely for the best, especially the guy in Global Sales. Wormald though, who was in charge of Mergers & Acquisitions, would have likely had a major part in nearly every single part of BB10 being that the OS is built on QNX (purchased in 2010) and the UI and primary dev tools (Cascades) were brought by the geniuses from TAT.

Perhaps this is more a move of continued shrinkage and eliminating excess corporate overhead than it is punishing incompetence? At least in Wormald's case, even though not all recent acquisitions have worked out, at least not yet (like that cloud storage company).

Posted via CB10

[anon(3896606)]

This will most likely be announced during the quarterly report in 5 days.
It makes me wonder what else they have to announce...

[jscan44]

I don't have much knowledge about the two that are leaving this time, but given the companies position I think it's for the best.

However I'm not sure why they would let Chris Wormald go if he was the M&A guy who did the QNX deal among others.
The only logical reason I see is to reduce costs (like someone else said) and since they are hardly in a position to make any acquisitions maybe the position will be merged into another for now.

John's cut through the executive team, I would like to see some sort of indication of what he intends to do as far as
a turnaround strategy soon.

[lnichols]

I say can everyone not in Engineering or Support. All management from top to bottom should be ejected.

Posted via CB10

[BBCruzer]

Given the absence of any real marketing strategy during the holiday season and that apparently scads of product remains warehoused and unsold, perhaps this latest round of executive departures has more to do with these people not doing their jobs than just trimming the payroll. BlackBerry enthusiasts can't say enough about the devices but talk to anyone else and all you hear is crickets while tumbleweed blows in the wind. The company needs a major shakeup if it is to survive and regain an iota of marketshare.

Posted via CB10

[Omnitech]

I've never known an exec working for a major company to go from big time to unemployment line. These guys will be fine and there will be a fresh perspective for the comany. Now if it was mail room staff, that would be worrying.

A half dozen execs booted, 4,500 regular staff given the axe. (In addition to the 5,000+ already booted.)

Yeah, sure is a good thing the mail room employees weren't affected.

[ElGusta]

The article is unclear whether these execs were terminated or are leaving on their own volition.

[web99]

I suppose that is to be expected with a new CEO coming in. He will want to have his choices in key executive positions.

Posted via CB10 from my spectacular Z10

[danprown]

without knowing more and the reason for the departures, it is difficult to say whether this is positive or negative. it would have been nice, instead of "no comment" and reading it in the papers, if BBRY did some spin. It is after all an opportunity to be in the news.

[MartyRC]

It always sucks to hear about layoffs and firings, but this move is good for Blackberry.
They need new minds working, fresh ideas and the same vision as Chen, to make Blackberry better.

[JeepBB]

They left of their own accord ... So says the G&M. Its on the other thread about this.

Frankly, who can blame them.

JBB