Can there be only one? That’s the question RIM will need to ponder for the next six months. Bloomberg BusinessWeek has reported that Research In Motion LTD has six months to show why Jim Balsillie and Mike Lazaridis need to keep their roles as Chairman of the Board or they may once again face the proposal to split their roles.
Northwest & Ethical Investments LP, one of the shareholders, introduced the proposal of splitting the roles of the Chairman, which the other investors were going to vote on during the Research In Motion’s Annual Meeting of Shareholders. They withdrew the proposition when RIM stated that the role of Chairperson for the Co-CEO’s was important, especially for business overseas. The company has also agreed to create a committee to study it’s leadership and the chairman post.
The trend lately has been coming to a sole chairman with 40% of 500 companies going to that trend. The committee has until January 31st to establish a conclusion on their study. The concerns of the investors comes from the decline in shares over this last quarter. But keep in mind that there will be seven new BlackBerry devices coming out this year. We support RIM fully, and we know that even an ocean has a high and low tide. Who knows what the tide will bring in by January, only time will tell. Personally, if it comes down to one Chairperson, I really hope that Jim Balsillie will keep the role for his ability to speak without losing his disposition.
[via: BloomBerg BusinessWeek]