BlackBerry Ltd (BBRY) Trouble Worsens As 3 Senior Execs Depart

BlackBerry Ltd (BBRY) Trouble Worsens As 3 Senior Execs Depart
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BlackBerry Ltd (NASDAQ:BBRY) has been struggling for the past several years. And now three senior executives of the Waterloo, Ontario-based company are departing, a sign of further gloom and doom for the Canadian smartphone maker. BlackBerry Ltd (NASDAQ:BBRY) spokeswoman Rebecca Freiburger confirmed the departure of three senior members in an email sent to CBC News.

BlackBerry Ltd (BBRY) Trouble Worsens As 3 Senior Execs Depart

Failing miserably every time

The report comes about two weeks after BlackBerry Ltd (NASDAQ:BBRY) laid off 250 employees at its new product testing unit. Those workers were involved in research and development activities. That’s in addition to 5,000 workers BlackBerry Ltd (NASDAQ:BBRY) fired last year.

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The ailing smartphone maker is doing every possible bit to reduce costs as its sales continue to decline and it continues to lose market share. BlackBerry Ltd (NASDAQ:BBRY)’s flagship smartphones Z10 and Q10 haven’t posted great sales. And expectations aren’t great from the upcoming Q5 either. The company has slashed prices of Z10 in several key markets, where it can be purchased for free on a two-year contract.

BlackBerry Ltd. (NASDAQ:BBRY)’s transformation has disappointed analysts and investors alike. BlackBerry Ltd (NASDAQ:BBRY) spokeswoman Rebecca Freiburger said that the company is in the second phase of its transformation. She said BlackBerry Ltd (NASDAQ:BBRY) is assessing itself from top to bottom to ensure that the company has the right people for the right job.

Senior executives continue to exit BlackBerry

Well, she can sugar coat the lay offs and departure, but the Wall Street is going to see it only as layoffs. The three executives leaving the company are:

  • Corporate IT Operations vice president Doug Kozak
  • Global Manufacturing and Supply Chain senior vice president Carmine Arabia
  • Service Operations vice president Graeme Whittington

Late last month, the company also confirmed that executive vice president for mobile computing, David Smith resigned from the job for personal reasons.

BlackBerry Ltd (NASDAQ:BBRY) shares were down 3.03 percent to $9.28 at 10:19 AM EDT.

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