RIM\Blackberry chief resigns over earnings

Manufacturing News, Source : TheManufacturer.com
Published : 08 Mar 2007 23:10

James Balsillie has resigned as chariman of Research in Motion or RIM, makers of the BlackBerry devices.

This after RIM said it would have to restate $250 million in results after reviewing stock option grants. Surprisingly, Balsillie will stay on as a co-chief executive, sharing the job with Mike Lazaridis. The two will have to pony up $10 million Canadian to cover the restatement cost.

RIM's internal investigation uncovered no wrongdoing on either Balsillie's or Lazaridis's part.

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