RIM Execs Keep Bailing

The exec exodus at Research In Motion (Nasdaq: 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 (Nasdaq: GOOG  ) Android device or an Apple (Nasdaq: 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?

There are better ways to play the mobile revolution, starting from the inside. Get this report on 3 Hidden Winners of the iPhone, iPad, and Android Revolution for a list of critical component suppliers that are much more promising than RIM. It's totally free.

Fool contributor Evan Niu owns shares of Apple, but he holds no other position in any company mentioned. Check out his holdings and a short bio. The Motley Fool owns shares of Google and Apple. Motley Fool newsletter services have recommended buying shares of Apple and Google and creating a bull call spread position in Apple. The Motley Fool has a disclosure policy. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.


Read/Post Comments (3) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On April 09, 2012, at 9:02 PM, BR14 wrote:

    "Not exactly confidence-inspiring, is it?"

    Well actually it is.

    The media has complained about RIM's software, marketing, lack of developer initiatives and execution.

    Take a closer look at the roles within RIM of the execs you list.

    They didn't "abandon ship". Walked the plank, is more likely!

    And it isn't so long ago that senior board members invested heavily in their own company.

    You might try to get the odd fact correct when you write articles concerning RIM. You can always spin them negatively if that's your agenda.

  • Report this Comment On April 09, 2012, at 11:05 PM, daveraj wrote:

    Unless you subscribe to one of their services, expect nothing but slanted and biased articles on the TMF. Another article like this by one of the newer writers on the site is par for the coarse. A shame really. TMF used to be the premier financial site. Mostly noise now.

  • Report this Comment On April 10, 2012, at 9:23 AM, dragonslayer1974 wrote:

    This is why you need to be careful on these boards with your investments.

    Look at comment #2 by "InfoThatHelp" and then click his activity. IT is about a 18 month rant about how horrible RIM is.

    Let me guess:

    1 - he has shorted RIM stock forever

    2- he was fired by RIM and is extremely bitter (likely since his attacks are more personal than fiscal)

    3- he works for Apple and is in "the cult"

    4- he works for an agency that is employeed by one of RIM's competitors who specifically tries to manipulate public opinion as much as possible to poison a company's PR.

    I am not a huge RIM fan right now. But they are cleaning house and that is good. They have assets and their new CEO appears to be a smart guy. The claim that these exec jumped ship is ridiculous. These guys were obviously given the door. As BR14 clearly and likely correctly pointed out.

    I like the Fool pages but we reall need to get rid of people like "InfoThatHelp" who are driving an agenda that is not about investing and is more about themselves.

Add your comment.

DocumentId: 1858090, ~/Articles/ArticleHandler.aspx, 4/17/2014 2:30:12 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement