1. Frank2029's Avatar
    Here is the link --> RIM to review management structure - Business - CBC News


    "
    A Canadian activist investor is withdrawing a proposal to split the roles of board chairman and chief executive at Research In Motion Ltd. (TSX:RIM) after the company agreed to study the issue.
    Northwest & Ethical Investments LP, or NEI, had put forth a motion to be considered at the company's annual meeting in mid July asking shareholders to approve a policy that would have divided the role of chair and CEO.
    RIM co-chief executives Jim Balsillie and Mike Lazaridis currently also serve as co-chairmen of the company.
    RIM agreed Thursday to establish a board committee of independent directors to study the matter and report on the issue by next January.
    The committee will also examine the necessity for RIM's co-CEOS to have significant board level titles and propose a governance structure for the BlackBerry maker.
    "RIM and NEI Investments are pleased to have reached an agreement on this matter, and these important issues of corporate governance will receive further consideration at the RIM board level," the two sides said in a statement.
    Proxy advisory firms Glass Lewis and Co. and ISS had both recommended shareholders vote to support the NEI motion at the company's annual meeting to be held in Waterloo, Ont. on July 12.
    RIM has come under fire in recent months amid increasing competition from Apple's iPhone and new smartphones using Google's Android operating system.
    The company's new PlayBook tablet has also struggled against the iPad and other Android-powered tablets.

    Anonymous letter


    RIM was forced to defend itself Thursday after a scathing letter by an anonymous "high level employee" was published by the technology news website Boy Genius Report that said projects were falling behind schedule.
    The letter also urged Balsillie and Lazaridis to make changes at the company, which has grown rapidly in recent years from corporate BlackBerry sales but now faces tougher competition as it tries to grow in the smartphone and tablet consumer market.
    "We need an injection of confidence: share your strategy and ask us for support," the letter said. "The headhunters have already started circling and we are at risk of losing our best people."
    In a post on the company's blog, RIM questioned the authenticity of the letter's author, but said "that the senior management team at RIM is nonetheless fully aware of and aggressively addressing both the company's challenges and its opportunities."
    RIM noted that it was nearing the end of a major business and technology transition.
    "Although this transition has taken longer than anticipated, there is much excitement and optimism within the company about the new products that are lined up for the coming months," the company wrote.
    NEI Investments was created through a joint venture between Desjardins financial group and Canada's credit unions, merging Northwest Mutual Funds Inc. and The Ethical Funds Company.
    NEI has offices in Toronto, Montreal and Vancouver and is owned 50 per cent by the Provincial Credit Union Centrals and 50 per cent by Desjardins Group, one of Quebec's biggest financial companies."
    Last edited by Frank2029; 07-01-11 at 10:08 AM.
    07-01-11 10:04 AM
  2. Gucci33's Avatar
    Is it Rim to review management destruction?
    07-01-11 10:07 AM
  3. Frank2029's Avatar
    Is it Rim to review management destruction?

    sorry fixed.
    07-01-11 10:09 AM
  4. lnichols's Avatar
    Hopefully it will be truly independent and not RIM management reviewing RIM's management structure. Sounds like a huge good ole boy system up with lots of corporate cronyism if the letters are to be believed.
    07-01-11 10:26 AM
  5. rollingrock1988's Avatar
    Let's hope change is made
    07-01-11 10:53 AM
  6. johnenglish's Avatar
    This was posted about a few times yesterday. Basically NEI withdrew their proposal to about revamping the CEO structure if RIM promised to review it. RIM will complete its review by next year.

    NEI knew they couldn't win at the shareholders meeting at Mike and Jim have enough votes to defeat any proposal they don't like. However, it would look bad on them if that's the only reason why the proposal was defeated.
    Last edited by JohnEnglish; 07-01-11 at 06:02 PM.
    07-01-11 01:02 PM
  7. Laura Knotek's Avatar
    This was posted about a few times yesterday. Basically NEI withdrew their proposal to about revamping the CEO structure if RIM promised to review it. RIM will complete it's review by next year.

    NEI knew they couldn't win at the shareholders meeting at Mike and Jim have enough votes to defeat any proposal they don't like. However, it would look bad on them if that's the only reason why the proposal was defeated.
    Taking 6 months to review the management structure = fail.

    The management should have been changed last year, not in 6 months.
    07-01-11 01:08 PM
  8. morfy50's Avatar
    So Jim And Mike are reviewing themselves. Hope they don't run out of gold stars.

    Posted from my CrackBerry at wapforums.crackberry.com
    kbz1960 and kevinnugent like this.
    07-03-11 12:57 AM
  9. jh84's Avatar
    "... study the matter and report by next January"

    No hurry,huh

    Sent from my BlackBerry 9780 using Tapatalk
    07-03-11 01:51 AM
  10. trsbbs's Avatar
    Unless these two guys are replaced, I fear the only hope for RIM is someone buys them out and forces one or both out the door.

    It is clear Mike and Jim are still in denial and not listening to what is being said and what is happening to their company.

    It is theirs to waste. So be it.

    Tim
    07-03-11 02:39 AM
  11. Rootbrian's Avatar
    I doubt the CEO's aren't doing anything wrong. BGR is likely in the wrong. So much defaming, that's what is wrong. I hope RIM is doing fine. There's always positive and negative reviews, either on purpose for for comedy, some are sarcastic which does get taken seriously.

    Posted from my CrackBerry at wapforums.crackberry.com
    07-03-11 03:29 AM
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