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RIM CEOs Say No Big Changes Needed at Company

(Research in Motion President and co-CEO Mike Lazaridis delivers a keynote address at the BlackBerry Devcon Americas on October 18, 2011 in San Francisco, California.)

Photo by Justin Sullivan/Getty Images

Has Research In Motion adopted the kitchen sink approach?

Three weeks after announcing a fire sale on its Blackberry Playbook tablets in order to stay competitive and get units off the shelves, the company has replaced co-CEOs Jim Balsillie and Mike Lazaridis with a relative unknown named Thorsten Heins.

The two RIM executives stepping down, two of the biggest names in Canadian business, said it was time to “pass the baton to new leadership.” Both men maintain large stakes in the company and key positions on the board. Despite calls by
shareholders for a bigger shakeup, the company heads said more change was unnecessary.

Will the shuffle be enough to get the struggling giant moving again? Release of the company’s new software and phone models have been heavily delayed, and in a few short years, RIM’s worth has gone from over $70 billion to just $8.9 billion.