Motion for John Chen to stand down as Chairman
- Only if it's a BlackBerry Motion!
All kidding (and sour grapes about hardware aside), Chen has done alright. Sure a lot of us may poke fun at him from time to time and for various reasons...but at the end of the day, at least BlackBerry is still in business.
Obviously though, and for the long term, they will need some fresh blood to stay competitive. I don't think they need to (or even should) keep him on as CEO beyond his current term.05-20-18 07:23 AMLike 0 - OP, too late. Unless you have $86,216,696 to fund his departure (add few more for the other director/VPs, you looking at more than 100 million). Based on latest BB annual meeting disclosure, the employment arrangement including Chen's termination or change of control, will cost you north of 86 millions (base salary+annual incentive+benefits+retirement saving+equity awards) for him alone. You better have deep pocket (look like he already thought about your plan... he is better chess player than you). (data based on anuual meeting notice p.42).05-20-18 07:59 AMLike 0
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John Chen will stay on as BlackBerry CEO until at least 2023 as part of contract extension https://www.crackberry.com/john-chen...ract-extension
Btw, since when is a business a democracy?05-20-18 08:03 AMLike 3 - BlackBerry, and its shareholders, were so happy with Chen, they just extended his contract in March of this year.
John Chen will stay on as BlackBerry CEO until at least 2023 as part of contract extension https://www.crackberry.com/john-chen...ract-extension05-20-18 08:10 AMLike 0 -
So, who is asking for this? BlackBerry is a relatively small company with 4000 employees, so I'm not sure what advantage you think this would provide.05-20-18 09:16 AMLike 0 -
Send from my Blackberry Passport somewhere in space.05-21-18 02:07 AMLike 0 -
Sorry, but this doesn't make much sense to me. You're untitled to your opinion and I respect that.
Nevertheless,
I don't: see any evidence of senior management being 'undemocratic'. But regardless, Chen is the leader. He needs to make decisions, not build consensus. BB as a public company is accountable to its shareholders who each get a vote. So in that sense it's a democratic process.
Also, an Independent CEO is an oxymoron. He can't be independent he answers to the shareholders first and foremost. They are the ones that own BB. His first and only real job is to increase shareholder value.
Send from my Blackberry Passport somewhere in space.Last edited by Haivu1945; 05-22-18 at 09:05 AM.
05-21-18 03:01 AMLike 0 - In theory, shareholders can bring something like this up, but it's rare. Even if they did, I doubt it would gain enough traction to amount to anything.05-22-18 07:36 AMLike 0
- Unless you have a large majority of blackberry mobile or blackberry stocks by all means, otherwise just sit there and be quiet05-22-18 08:13 AMLike 0
- Why you need 2 heads? One is pricy enough. Not like Jim and Mike proposed $1.00 each. That I will see a value add. Without a specific name, what he or she can bring on board highly suspicious. (with all the seats already on the table, with each more costly than the other, including the most highly paid ceo in canada. )
Posted via CB1005-23-18 03:40 AMLike 0 - 05-31-18 08:28 AMLike 0
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- Pfft, financial stability, who needs that? Going all out on BB10 and crashing and burning so hard it makes Enron look good is what we really wanted.06-07-18 11:37 PMLike 5
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Here is an example to take lesson from:
For Microsoft, the following decade was a painful, distracting, and expensive era as the company fought anti-trust litigation in the U.S. and Europe.
But when it emerged on the other side, it brought with it two key governance features:
1. An independent board chairman and,
2. A Regulatory and Public Policy Committee to assist the board of directors in overseeing risks that concern public policy and corporate social responsibility.
I have always been an advocate for transparent, accountable and democratic governance.06-09-18 05:51 PMLike 0 -
- I guess OP's circle only within what he willing to see, not many other circles... Tesla just voted down the two heads proposal (not sure if it is initiated by OP or not) and stock went up right after the event (market speak by volumn). OP might want to take a look of Tesla recommendation for vote AGAINST the proposal and seek for higher input (last quarterly report of Tesla). Being said that, I would agree with dual heads if only if (1) you find good candidate for CEO (not the board like or Chen's boss like... otherwise you just got "more the same"). (2) Chen is willing to cut his salary 50% and his departure package 50%, since his responsiblity is reduced to 50%. (3) I don't see that happen, because Chen is doing his boss a favor so far for the debts repayment... the BB voting is centralized, not like MSFT. unless fairfax sold their shares. (4) there are not have a founder that deeply care about BB on the top. If Mike L willing to come back and Chair his baby, it might work (he is seeking Quantum Computing application...a company, either BB or others might just be the thing he needs to bring it to fruituation. with 5G and Quantum and AI, next gen would be possible... but I don't see Chen's boss and Chen will buy into this kind vision (prove they were on the wrong path is NONO... face saving is very important, more so for chinese or Japanese - Asian culture). IMHO.06-09-18 07:10 PMLike 0
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Oh, I hear he has a wallet in his pocket too!
Posted via CB1006-10-18 05:34 PMLike 0
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Motion for John Chen to stand down as Chairman
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