RIM Execs Keep Bailing
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.
Name | Title | Time |
|---|---|---|
Keith Pardy | Chief marketing officer | March 2011 |
Brian Wallace | VP of digital marketing and media | June 2011 |
Don Morrison | Chief operating officer | July 2011 (retired) |
Ryan Bidan | Senior product manager, BlackBerry PlayBook | July 2011 |
Mike Kirkup | Senior director of global developer relations | August 2011 |
Tyler Lessard | VP for global alliances and developer relations | September 2011 |
Jim Balsillie | Director, co-CEO, and co-chairman | March 2012 |
David Yach | Chief technical officer of software | March 2012 |
Jim Rowan | Chief operating officer of global operations | March 2012 |
Alan Brenner | Senior VP of BlackBerry platform | April 2012 |
Alistair Mitchell | VP of BlackBerry Messenger | April 2012 |
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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