BlackBerry Ltd (BBRY) Top Executives Leaving Company

BlackBerry Ltd (BBRY) Top Executives Leaving Company
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Troubled smartphone maker BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) announced Monday that its chief operating officer Kristian Tear and chief marketing officer Frank Boulben are leaving the company. BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB)’s newly appointed CEO John Chen said their departure is a part of the company’s ongoing reorganization plan. The Canadian company will also replace its chief financial officer Brian Bidulka with James Yersh.

BlackBerry board member Roger Martin resigns

James Yersh joined BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) in 2008. He has worked at the company as compliance chief, senior vice-president and controller in the past. Brian Bidulka, meanwhile, will act as the CEO’s special adviser until the end of the current fiscal year to assist his through the transition. In a statement, BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) CEO John Chen thanked Brian Bidulka, Kristian Tear and Frank Boulben. Mr. Chen has a tough job ahead reviving the ailing smartphone maker.

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BlackBerry Ltd. (NASDAQ:BBRY) (TSE:BB) has solid cash reserves, and is trusted as a provider of secure communications to enterprise customers. John Chen said he will use the company’s core strength in mobile security and device management to bring the company back on the track. BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) also announced that its board member Roger Martin has resigned. Roger Martin has been on BlackBerry Ltd.’s board since 2007.

BlackBerry to discuss details during Q3 conference call

The company said it will discuss the departure of senior executives during the third quarter conference call on December 20, 2013. BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) is going through a tumultuous phase. Its highly-anticipated BB10 devices Z10 and Q10 failed to entice customers, leading to the departure of Thorsten Heins. Though many investors and companies have expressed interest in acquiring the company, none of them have been fruitful. A $9 a share offer from its largest shareholder Fairfax Holdings was withdrawn.

BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) shares tanked 0.80% to $6.19 in early trading session.

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