A Research In Motion investor proposes that the ailing company should sell itself or spin off its patents to appease shareholders, according to a report.
Jaguar Financial Corp. CEO Vic Alboini told Bloomberg on Tuesday that RIM should also create a committee of four or five independent directors to look into those options. Alboini declined to say how big a stake Jaguar has in RIM, but said the proposal is backed by large shareholders who collectively own less than 5% of RIM.
This isn’t the first time a RIM investor has attempted to take a more active role. In June, billionaire Stephen Jarislowsky called on RIM to split the roles of chairman and CEO. RIM currently has two co-CEOs — Jim Balsillie and Mike Lazaridis. Both are also co-chairmen. Jarislowsky’s call has so far been unheeded.
The proposal is the latest challenge to RIM, whose stock has fallen about 35% in the past year. RIM’s share of the smartphone market fell from 25.7% to 21.7% from April to July as consumers flocked to smartphones based on Apple’s iOS and Google’s Android platforms at RIM’s expense.
Reps from RIM could not be reached for comment on the report.
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Posted on Tue, 06 Sep 2011 14:21:22 +0000 at http://feeds.mashable.com/~r/Mashable/~3/dHWidWynSiI/
Comments: http://mashable.com/2011/09/06/rim-investor-sell-company/#comments
Jaguar Financial Corp. CEO Vic Alboini told Bloomberg on Tuesday that RIM should also create a committee of four or five independent directors to look into those options. Alboini declined to say how big a stake Jaguar has in RIM, but said the proposal is backed by large shareholders who collectively own less than 5% of RIM.
This isn’t the first time a RIM investor has attempted to take a more active role. In June, billionaire Stephen Jarislowsky called on RIM to split the roles of chairman and CEO. RIM currently has two co-CEOs — Jim Balsillie and Mike Lazaridis. Both are also co-chairmen. Jarislowsky’s call has so far been unheeded.
The proposal is the latest challenge to RIM, whose stock has fallen about 35% in the past year. RIM’s share of the smartphone market fell from 25.7% to 21.7% from April to July as consumers flocked to smartphones based on Apple’s iOS and Google’s Android platforms at RIM’s expense.
Reps from RIM could not be reached for comment on the report.
More About: android, blackberry, iphone, RIMFor more Business & Marketing coverage:Follow Mashable Business & Marketing on TwitterBecome a Fan on FacebookSubscribe to the Business & Marketing channelDownload our free apps for Android, Mac, iPhone and iPad
Posted on Tue, 06 Sep 2011 14:21:22 +0000 at http://feeds.mashable.com/~r/Mashable/~3/dHWidWynSiI/
Comments: http://mashable.com/2011/09/06/rim-investor-sell-company/#comments