BlackBerry Ltd Board Member Nordberg Stepping Down

BlackBerry Ltd Board Member Nordberg Stepping Down
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BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) disclosed that its board member Bert Nordberg will not seek re-election during its upcoming annual meeting (on June 19) in its regulatory filing with the Securities and Exchange Commission (SEC).

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Nordberg joined the board of directors of BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) in February last year. He was a member of the committee of the board responsible in seeking strategic alternatives for the Canadian smartphone manufacturer including a possible sale or going private.

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Nordberg believed BlackBerry would become a niche player

In a previous interview with the Wall Street Journal, Nordberg stated that there were subsets of BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) that needs to be sold, and he expressed confidence that the company will be able to survive as a “niche player.”

Nordberg previously served as president and CEO of Sony Ericsson. He also served as executive vice president of Ericsson S.P.A. During his tenure at Sony Ericsson, he eliminated the company’s presence in the low-end market for basic phones and focused the company’s efforts on smartphones powered by the Android operating system. He is currently serving as independent chairman of the board of Vestas Wind Systems A/S (CPH:VWS), a company based in Denmark engaged in the wind power industry.

BlackBerry nominates six directors

According to the Canadian smartphone manufacturer, its board has fixed the number of directors for re-election during the annual meeting to six. BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) said all its proposed nominees are currently serving as directors of the company.

CEO John Chen, who is serving as non-independent director since joining in November 2013; Timothy Dattel, independent director since July 2012 and a senior partner at TPG Capital; Claudia Kothchka, independent director since July 2011 and serving as independent consultant to Fortune 500 companies; Richard Lynch, independent director since February 2013 and serving as president of FB Associates, LLC; Barbara Stymiest; independent director since March 2007 and currently serving as director of George Weston Limited and other companies; Prem Watsa, independent lead director and the chairman and CEO of Fairfax Financial Holdings Ltd (TSE:FFH).

BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) said each of the directors that will be elected during the annual meeting will serve until the next annual meeting or until a successor is duly appointed or elected.

The Canadian smartphone manufacturer also indicated its intention to increase the membership of its board by adding two qualified directors for the current fiscal year.

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Marie received her Bachelors Degree in Mass Communication from New Era University. She is a former news writer and program producer for Nation Broadcasting Corporation (NBC-DZAR 1026), a nationwide AM radio station. She was also involved in events management. Marie was also a former Young Ambassador of Goodwill during the 26th Ship for Southeast Asian Youth Program (SSEAYP). She loves to read, travel and take photographs. She considers gardening a therapy.
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  1. Ariel, I meant that I am a BBRY long. DEVVVV is anything is short BBRY. He has emotional connections to BBRY turning his proposals down.

  2. Not sure if DEVVV is blackberry long. More likey he’s professionaly employed for a marketing firm to manage Blackberry’s image. Or its just that he’s joined the Indian bandwagon of bashing all things Blackberry.

    As for this particular news element , Bert Stepped in to assist with the options being considered at that time. However those options are no longer relevant and Bert is stepping out.

  3. As a BBRY long, DEVVVV does have valid points in that there needs to be a greater focus on innovation than merely streamlining. That being stated, a lot of dead wood needs to be removed as well new hiring started. Just because the headcount is decreasing, is not a bad omen. In many companies, especially those that were once highly profitable, there are many areas and people that should be cut and thrown out.

  4. I wonder why Bert is stepping down, could it be he does not agree how Chen is operating. Personally I don’t agree with how Chen is streamlining that company whereas innovation could have very well fixed that company, I don’t believe anyone needed to be fired. As far as I’m concerned, if things would have been done properly they would have been hiring rather then firing. It now appears that the executives are now taking the company for a ride, at investors expense.

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