Independent review says RIM CEOs should not be Chairmen of the Board
An independent review of RIM's corporate structure has decreed that RIM's CEOs should not also serve as Chairmen of the company's board at the same time. RIM's former co-CEOs Mike Lazaridis and Jim Balsillie enjoyed such a privilege for quite some time before stepping down from their positions earlier this month.
The independent review of RIM's corporate structure was in response to complaints from shareholders last April that called for a separation of the roles. "The committee believes that appointing an independent chair is the appropriate solution for RIM shareholders and will resolve the issue for RIM and its employees and business partners," was the conclusion the reviewing body came to.
Sharing the roles of CEO and Chairman of the Board is fairly common among U.S. companies, but in Canada, where RIM is located, the roles are usually separate. The report is more or less moot at this point, however, since the new CEO of the company, Thorsten Heins, does not serve as Chairman. Instead, Barbara Stymiest, a board member since 2007, was promoted to the role of chair.
RIM says that in the future, it will continue to keep the roles separate and that the chair position will not be held by a RIM employee.
Source: Dan Seifert
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