Ex co-CEO Jim Balisillie (And More) Resign From RIM After Another Disappointing Quarter.


Moments ago RIM announced another disappointing quarter (5th in a row), and even went as far as stating that they no longer plan to offer guidance.

Without getting deep into financial jargon that frankly, none of you would care about, just know that RIM’s situation isn’t still on the way down as is their image. What’s most surprising, however, isn’t their poor quarterly performance (net loss of $125 million), but the new round of layoffs.

Balsillie is out. Officially, he’s “resigning”. CTO of Software, David Yach and Jim Rowan, COO of Global Operations are also being shown the door.

Critics have said the recently appointed CEO, Thorsten Heins, was nothing more than a simple puppet of the former to co-CEOs who were shuffled over to board duties. While getting rid of Balsillie and friends is certainly a very bold move, it’s something that has been needed for quite some time. That said, at this stage in the game with RIM’s outlook even worse off then it was previously, the same adage “too little too late” keeps ringing in the back of our head.

Going forward, Heins says that RIM will face “continued pressure through fiscal 2013″. If that doesn’t scream “abandon ship!” we don’t know what does.

All that said, we’re still holding out hope RIM can really wow us with their next-gen BlackBerry 10 OS. But at this stage in the game, we really wouldn’t recommend putting any of your eggs in RIM’s basket.
 
Source: AllThingsD | Via: TheVerge, BGR
Image Source: CrackBerry