More changes coming - Stymiest tells Bloomberg

glassofpinot · Thread Author #1 02-02-2012, 12:06 PM

Stymiest is getting around with lots of communications on RIM's direction - here is one from Bloomberg...

RIM's new chairwoman vows more change
CBC News Posted: Feb 1, 2012 3:09 PM ET
RIM's new chairwoman vows more change

Barbara Stymiest, the new chairwoman of Research in Motion, has vowed to make changes to the company's board of directors in order to regain market share, according to Bloomberg.

"Driving change in an organization means a high-performing board and a high-quality management team," Stymiest told Bloomberg, "You get those two right and you can drive change."

Stymiest took over leadership of the company’s board from founder Mike Lazaridis and Jim Balsillie, who served as co-Chairs until a major shake-up in January.

RIM’s stock has fallen over 70 per cent in the past year, and investors believe that a major shake-up in the company’s strategy is necessary. Thorsten Heins, who took over the role of CEO from Lazaridis and Balsillie in last month’s shakeup, was roundly criticized by analysts and investors alike for his 'stay the course' message.

Last year, investment firm Northwest & Ethical Investments demanded a management overhaul, prompting RIM to review its management structure, ultimately leading to the removal of Lazaridis and Balsillie and the appointment of Heins and Stymiest.

Doubting the ability to change
Not every investor is confident in Stymiest’s ability to sufficiently change up RIM's board of directors, including one of the largest ones, Jaguar Financial.

Vic Alboini, President & CEO of Jaguar Financial, has been one of the more vocal proponents for a change at RIM. In an interview last week on CBC News' The Lang & O’Leary Exchange, he said he doesn’t think Stymiest is "strong enough to cause dramatic change."

"I would like her to prove us wrong," Alboini said, but he added that the window of opportunity is very short, likely four to six months. Alboini is pushing for a wider breadth of experience on the board, including a “tech heavyweight” and a “marketing star” with international experience.

Stymiest told Bloomberg she is hoping to fill those gaps in the board of directors’ knowledge.

Sith_Apprentice · #2 02-02-2012, 12:09 PM

Alboini is an 1_diot (really i diot is removed?) who likes to cause trouble and get his name out there. I dont think the board needs a "marketing star", that is what the CMO position is for (who doesn't necessarily need to be on the board). As for the "tech heavyweight" you have Mike L. as vice chair. The man practically invented the smartphone market.

glassofpinot · Thread Author #3 02-02-2012, 01:46 PM

I have to agree that Alboini has a different agenda and I wish that CBC/Bloomberg had not used his view in their article.

I think the main point is that the new outside director/chair is speaking out - that's a big difference (from RIM's past and outside directors in general IMO).

tumer · #4 02-02-2012, 01:59 PM

Mike realy doesn't get the credit he deserves to bad he is a very very smart man.
When steve jobs was around it was steve jobs this and steve jobs that some people reaky don't understand how smart mike l is

bbpandy · #5 02-02-2012, 04:57 PM

Quote:

Doubting the ability to change
Not every investor is confident in Stymiest’s ability to sufficiently change up RIM's board of directors, including one of the largest ones, Jaguar Financial.

Vic Alboini, President & CEO of Jaguar Financial, has been one of the more vocal proponents for a change at RIM. In an interview last week on CBC News' The Lang & O’Leary Exchange, he said he doesn’t think Stymiest is "strong enough to cause dramatic change."

"I would like her to prove us wrong," Alboini said, but he added that the window of opportunity is very short, likely four to six months. Alboini is pushing for a wider breadth of experience on the board, including a “tech heavyweight” and a “marketing star” with international experience.

One of the largest?...HE is not at all!....He's just a loud mouthed who is currently fighting securities charges. Maybe he should worry about going to jail more then about RIM

Dapper37 · #6 02-03-2012, 10:22 PM

Quote:

Originally Posted by tumer

Mike realy doesn't get the credit he deserves to bad he is a very very smart man.
When steve jobs was around it was steve jobs this and steve jobs that some people reaky don't understand how smart mike l is

Mike is a great man. I believe now he can get back to doing what he does best. Go Mike, we got your back.