RIM issued fiscal fourth-quarter results that once again were far grimmer than analysts had expected, as BlackBerry sales and shipments fell sharply amid intensifying competition, and writedowns tied to inventory and acquisitions left the company with a loss of $125 million (U.S.), its first quarterly loss since fiscal 2005. RIM also announced a number of executive changes, including the fact that longtime co-CEO Jim Balsillie is stepping down from the company’s board.
“As I complete my retirement from RIM, I’m grateful for this remarkable experience, and for the opportunity to have worked with outstanding professionals who helped turn a Canadian idea into a global success,” said Jim Balsillie.
The Globe and Mail reports that several “high level people” within the company were let go today, including multiple vice-presidents and senior vice-presidents. Both the sales and marketing departments are said to have been hit. Other departures are said to include David Yach and Jim Rowan, CTO of software and COO of global operations, respectively.