Stockholders want change
Posted Oct 11, 2011 03:22:44 PM.
This article is more than 5 years old.
An activist shareholder in Research In Motion has thrown down the gauntlet, calling for change at the top, and the possible sale of the BlackBerry-maker.
Jaguar Financial Corporation CEO, Vic Alboini tells 570 News his company is one of a dozen institutional stockholders who support change in the way RIM is governed, and who urge it to be put up for sale, in whole or in part.
“We are asking RIM to appoint one of the independent directors as a chairman, and so that the two management co-ceos would step down as co-chairmen,” Alboini said.
Jim Balsillie and Mike Lazaridis currently share the role of chief executive officer and chairmen of the board.
Alboini says holders of at least 8 per cent of RIM stock support Jaguar’s call for a sale of the company and a radical corporate shuffle.
RIM shares hit a 52-week low of $19.29 per share on the Nasdaq on October 4.
