Beleaguered RIM touts CEO change, plans to stay on same course; analysts unimpressed

“The new chief executive at Research In Motion Ltd. touted his plan to largely keep the company on the same course, in a presentation early Monday, while analysts had mixed reactions to the surprise leadership shuffle at the troubled smartphone maker,” Dan Gallagher reports for MarketWatch.

“Late Sunday, RIM announced that its co-CEOS — Mike Lazaridis and Jim Balsillie — were stepping down from their management roles at the company,” Gallagher reports. “Chief Operating Officer Thorsten Heins, a former Siemens executive who joined RIM in 2007, will take the CEO reins.”

“In a conference call on Monday morning, Heins pledged that the company will improve on its product execution as well as its marketing in North America, where the company’s BlackBerry smartphone family has come under brutal competition from the iPhone from Apple,” Gallagher reports. “‘We need to be more consumer driven, as that’s where the growth is coming from,’ Heins said on the call. He added that the company is still seeking a new chief marketing officer.”

Read more in the full article here.

MacDailyNews Take: Keep the company on the same course: Straight into the iceberg.

This is the very definition of rearranging the deck chairs on the Titanic. It is simply a dog and pony show designed to buy time until DCW can find a buyer for the whole mess or until they figure out how to chop it into pieces and sell them off.

21 Comments

  1. Count how many times Heins calls RIM innovative in the video (there’s even a RIM innovates too much comment!). This has got to have the last of the shareholders very worried.

  2. The rocks or icebergs will move out of the way what we need to do now it speed up with our arrogant RIM confidence. Wall street will love us once we get rid of our two ceo’s and go to one other than that keep RIM pointed towards those big rocks you will see they will move. Count on it. To show you how confident we are we are going start wearing a blindfold full time so you can draw strength from our confidence. If you own RIM stocks it’s time to double down. Your about to make a killing (your own)

  3. “In a conference call on Monday morning, Heins pledged that the company will improve on its product execution as well as its marketing […]”

    So, RIM really believes that one can explain away Apple’s success: “It’s only design and marketing”.

    1. My thought exactly. Wouldn’t it be easier to make a better product that can compete in the marketplace than to continuing polishing turds to foist off on consumers (who obviously prefer something better than a polished turd)?

      1. I agree- no products so no story to tell so no point in hiring a good story teller. It’s sad to watch though and sad to think that Canadian business schools keep churning out ‘leaders’ with clay feet. I was at a b-school competition where a prof as judge dismissed a brilliant visionary solution from one competing groups because “they could have done more financial analysis and charts.” I was dismayed. ‘it

  4. “‘We need to be more consumer driven, as that’s where the growth is coming from,’ Heins said on the call.”

    Only one little problem: You have to have compelling products that consumers actually want. You know, something that they will be spending *thier* after-tax money on.

    Heins hasn’t a clue what he’s doing.

    RIM is dead.

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