The exec exodus at Research In Motion
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.
|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
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.