The exec exodus at Research In Motion (NAS: RIMM) continues.
The latest two to bail are Alan Brenner, senior VP for the BlackBerry platform, and Alistair Mitchell, VP for BlackBerry Messenger. The list of higher-ups who have recently called it quits keeps growing, the most noteworthy being ex-co-CEO and ex-co-Chairman Jim Balsillie, who co-founded RIM, after the company reported earnings last month.
Here's a taste of some of the names that have abandoned ship recently.
Chief marketing officer
VP of digital marketing and media
Chief operating officer
July 2011 (retired)
Senior product manager, BlackBerry PlayBook
Senior director of global developer relations
VP for global alliances and developer relations
Director, co-CEO, and co-chairman
Chief technical officer of software
Chief operating officer of global operations
Senior VP of BlackBerry platform
VP of BlackBerry Messenger
That list contains an awful lot of "chiefs," "VPs," and "seniors" whonare moving on to bigger and better things. There was also a report back in October that execs were politely declining to buy RIM shares on the open market. Not exactly confidence-inspiring, is it?
The consumerization of IT continues to wreak havoc on RIM, as many enterprises now let employees pick their own devices. Instead of opting for BlackBerrys, workers increasingly want either a Google (NAS: GOOG) Android device or an Apple (NAS: AAPL) iPhone. Those two platforms combined now comprise almost three-quarters of all smartphones sold in the world.
Not even RIM's top brass has faith in the company anymore, so why should investors?
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At the time thisarticle was published Fool contributorEvan Niuowns shares of Apple, but he holds no other position in any company mentioned. Check out hisholdings and a short bio. The Motley Fool owns shares of Google and Apple.Motley Fool newsletter serviceshave recommended buying shares of Apple and Google and creating a bull call spread position in Apple. The Motley Fool has adisclosure policy. We Fools don't all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. Try any of our Foolish newsletter servicesfree for 30 days.
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