[Dunt Dunt Dunt]

JC must have a big golden parachute dependent upon keeping BlackBerry afloat for a certain timeframe...

Don't remember ever seeing any details on him getting a golden parachute with 2018 contract extension.... Most the money was tied to the company doing well - I'm talking really well. First if he reached $16- $20 stock price he'd get 5 million restricted stock grants and then at $30 a share he'd get another 5 million. Could have been up to a $140 Million pay package for five years.... But then if the stock reached $30 a share, nobody would have cared what he got paid. It was trading around $12 a share back when they offered him the extension.... so the $16 - $20 seemed possible back then.

His salary is only $1 Million with a base annual bonus of $2 Million (paid in stock)... Not sure if he's gotten any other bonuses, but $5 million cash plus whatever the stock was (will be) sold for.... ain't all that much. And like many here, he's looking at a lot of his nest egg being tied up in a very depressed stock.

But I'm sure he has some kind of parachute in place as well, won't be nothing compared to the $55 Million Heins got.... Which is really kinda sad.

[Denise in Los Angeles]

Didn't he get the shares regardless of the value? I thought he'd get extra bonuses if the stock price hit $30, but he still made a pretty penny on it. The share price doubled during his time as CEO....

Chen has also requested that his cash bonuses be paid to him in Blackberry shares.

https://www.cbc.ca/news/business/bla...-85m-1.2418832

[Dunt Dunt Dunt]

Didn't he get the shares regardless of the value? I thought he'd get extra bonuses if the stock price hit $30, but he still made a pretty penny on it. The share price doubled during his time as CEO....

Chen has also requested that his cash bonuses be paid to him in Blackberry shares.

https://www.cbc.ca/news/business/bla...-85m-1.2418832

In 2017 it might have doubled from where he took over... but today's price, is today's price and it's less than when he took over in 2013. Chen's ended the hardware and established a software company... but at the same time others have moved into the same markets. Even QNX is getting edged out....

The question is, Does Chen's recovery style of running a business... work with trying to grow a business? I get cutting the 100's of millions in R&D they once did with hardware, but they still are cutting R&D even now to get their budget down. Can a company grow in the long term without investing back into development?

Why is AGL becoming the automotive OS of choice now?
Why is Everbride out doing Athock in emergency communications?
Why is Claynce's growth declining while others continue to climb?
Why is BlackBerry's UEM business slipping away - what was the sales teams problem? Management? Product? Price? Just Lazy?

I think Chen did what had to be done from 2013 to 2017... but at this point I'm not sure he's got what it takes to move forward. Unless that's not what Prem wants....

[Chuck Finley69]

Unless that's not what Prem wants....

I believe that’s partly correct. I suspect that Prem would like to go private with institutional partners already in the ownership mix using more of their money.

Then perhaps grow some but with the minimal amount truly needed. I believe there’s Sybase correlation similarities
here but that wasn’t plan A since I think COVID-19 put us on a plan C or D I think.

[Dunt Dunt Dunt]

I believe that’s partly correct. I suspect that Prem would like to go private with institutional partners already in the ownership mix using more of their money.

Then perhaps grow some but with the minimal amount truly needed. I believe there’s Sybase correlation similarities
here but that wasn’t plan A since I think COVID-19 put us on a plan C or D I think.

I suspect it's more like plan M, N or O at this point.

[conite]

I suspect it's more like plan M, N or O at this point.

Plan 9.

[byex]

Chen out of Chen

Posted via CB10

[Josh Ruiter]

I lost respect for him after seeing his awkward introduction of the Priv on the news.

Posted via CB10

[Chuck Finley69]

I lost respect for him after seeing his awkward introduction of the Priv on the news.

Posted via CB10

Why? It wouldn’t have changed anything from the day he came to BlackBerry and his mission execution

[Dunt Dunt Dunt]

I lost respect for him after seeing his awkward introduction of the Priv on the news.

Posted via CB10

You must have loved the BB10 lauch with Thorsten Heins and the hippy they brought out to get a hair cut..... talk about awkward.

[anon(5597702)]

Plan 9.

From...?

[Josh Ruiter]

You must have loved the BB10 lauch with Thorsten Heins and the hippy they brought out to get a hair cut..... talk about awkward.

I missed that one

Posted via CB10

[anon(5597702)]

Overall, I give him a B. (Any 30 Rock fans?)

[BB11isNext]

OK this subforum is the right place for ordinary ppl to shoot their mouths off. I think Chen pulled BB from the brink, it was terrifying to read of BB getting emergency loans before Chen arrived and that was at a time l wasn't even properly in love with BB.

However, Chen has had a good run and now it's time for Chen to turn up to work and find his PC a smouldering molten heap in the plaza as a strong hint it's time to let someone else have a try for better or worse (l'm not an investor but l would hope shares reach a new echelon instead of going equally up and down forever).

[Chuck Finley69]

OK this subforum is the right place for ordinary ppl to shoot their mouths off. I think Chen pulled BB from the brink, it was terrifying to read of BB getting emergency loans before Chen arrived and that was at a time l wasn't even properly in love with BB.

However, Chen has had a good run and now it's time for Chen to turn up to work and find his PC a smouldering molten heap in the plaza as a strong hint it's time to let someone else have a try for better or worse (l'm not an investor but l would hope shares reach a new echelon instead of going equally up and down forever).

Unless the institutional ownership controlling BlackBerry Limited changes, nothing changes because it's Fairfax that chose John Chen and is happy with his performance.

[BB11isNext]

I see

[app_Developer]

I think BB needs a CPO or CTO with a product vision. It’s a collection now of medium size businesses with no cohesive vision and none of the products are unique or even leading their field anymore.

I give Chen credit for saving the patient. It didn’t die, and that’s a good thing. But now the company needs to grow and thrive. The current management team seems incapable of this.

[Chuck Finley69]

I think BB needs a CPO or CTO with a product vision. It’s a collection now of medium size businesses with no cohesive vision and none of the products are unique or even leading their field anymore.

I give Chen credit for saving the patient. It didn’t die, and that’s a good thing. But now the company needs to grow and thrive. The current management team seems incapable of this.

As crazy as it sounds, Prem could simply change out management but chooses not to.

[fairmarketvalue]

As crazy as it sounds, Prem could simply change out management but chooses not to.

Doesn't Fairfax still have a bunch of convertible debentures that are continuing to generate cash irrespective of how BB's shares actually perform?

[Chuck Finley69]

Doesn't Fairfax still have a bunch of convertible debentures that are continuing to generate cash irrespective of how BB's shares actually perform?

Yes, that also, but it's consortium of institutional shareholders don't share in that from what I can tell.

[Dunt Dunt Dunt]

Unless the institutional ownership controlling BlackBerry Limited changes, nothing changes because it's Fairfax that chose John Chen and is happy with his performance.

But in the end, where are those industrial owners expecting Chen to take them?

Chen was a great strategist for the transition to software on a business front. But in the end they need a technology leader that has some vision in what they can do in software. I felt Chen was way too timid with their development of the Cylance properties... R&D should have doubled or tripled during that time.

Even today he is keeping Operating cost down and profit margins high.... all the while they shrink as a company.

Is BlackBerry just some massive tax shelter or future write off for these institutional investors?

[Chuck Finley69]

But in the end, where are those industrial owners expecting Chen to take them?

Chen was a great strategist for the transition to software on a business front. But in the end they need a technology leader that has some vision in what they can do in software. I felt Chen was way too timid with their development of the Cylance properties... R&D should have doubled or tripled during that time.

Even today he is keeping Operating cost down and profit margins high.... all the while they shrink as a company.

Is BlackBerry just some massive tax shelter or future write off for these institutional investors?

That's my point, all the parties in control seem to prefer the status quo. Why, I'm not really sure but it's their assets on the line..

[towngirl]

He has done great in regards to sending Blackberry to a new direction but hate what he did with phones.
I wish he also had of revamped phone to a whole new level, even if it included getting rid of keyboard

[Chuck Finley69]

He has done great in regards to sending Blackberry to a new direction but hate what he did with phones.
I wish he also had of revamped phone to a whole new level, even if it included getting rid of keyboard

We all wanted that but the mobile division needed to be shutdown to save the rest of the company. Unfortunately like a disease or cancer where something is lost to save the patient.

I liked the PRIV, DTEK and Motion VKB better than my KEYs at the end but nobody else bought them.

[towngirl]

We all wanted that but the mobile division needed to be shutdown to save the rest of the company. Unfortunately like a disease or cancer where something is lost to save the patient.

I liked the PRIV, DTEK and Motion VKB better than my KEYs at the end but nobody else bought them.

Because he could have done away with priv, ect. and done good, the frist time lol