BlackBerry's C-Suite Empties Out
BlackBerry's seemingly endless saga continues. The beleaguered smartphone maker announced this morning that the chief operating officer and chief marketing officer are both departing, while the chief financial officer has been replaced, though he will finish the rest of the fiscal year as an advisor.
BlackBerry's new interim CEO, John Chen, is credited with the management shake-up. Both the CMO and COO had been at the company for just a short while, brought aboard by Chen's predecessor, Thorsten Heins. According to The New York Times, "the company [will] no longer have chief operating and chief marketing executives."
Motley Fool analyst Jason Moser thinks shake-ups can be an encouraging sign for investors, but in this case, the odds are against BlackBerry. As he says, "The turnarounds very rarely actually do turn around." Ultimately, Jason doesn't see enough reward to take on the risks of investing in BlackBerry today.
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The article BlackBerry's C-Suite Empties Out originally appeared on Fool.com.
Erin Kennedy has no position in any stocks mentioned. Jason Moser has no position in any stocks mentioned. The Motley Fool recommends Yahoo!. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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