BlackBerry removes interim from CEO John Chen's title
In a statement released by BlackBerry last week , the company said that Chen has agreed to stay with the company until it is on a "solid financial footing". BlackBerry has halted its search for a permanent CEO. Chen has already made a mark on the handset manufacturer. He inked a five year pact with Foxconn for the latter to provide the design, production and warehousing of low-end phones for the emerging markets. He also axed some executives and is trying to recapture the enterprise and government business that BlackBerry has lost over the years.
Chen,who turned around Sybase, wouldn't mind duplicating his success with BlackBerry. He was able to get Sybase all prettied up so that it was attractive to software producer SAP, which bought it out. This background also pleases Wall Street analysts, who are happy with Chen's previous success in turning around a company. Still, it is way too early to judge Chen's reign at BlackBerry. After all, the company has yet to release a phone designed and produced under his leadership and there is still the huge number of BlackBerry Z10 units collecting dust in the warehouse. During the last two quarters, the company has written down about $3.6 billion of inventory that is collecting dust in the warehouse.
Chen currently is working on a contract that can earn him as much as $2 million this year, if certain goals are met. In addition, he received 13 million restricted shares of BlackBerry now valued at $113 million.
source: NewYorkTimes via PhoneScoop
1. InspectorGadget80 (Posts: 5637; Member since: 26 Mar 2011)
Chen only cares bout his big pay check just like any other ceo's out there. I dont think BB will have a future
5. thealphageek1 (Posts: 557; Member since: 02 Feb 2013)
I disagree. BlackBerry has a strong future in enterprise. And, as evident by the things he's done in such a short space of time, Chen does seem to care about the well being of the company. Even if he didn't, the welfare of the company and his "big pay check" would seem to go hand in hand.
3. fanboy1974 (Posts: 997; Member since: 12 Nov 2011)
Only the green robot can save BB. I know it's not the most popular option but people are not going to trust a BB OS and lacking app store. They can do a Black Berry skin job with full access to Google play. Worry about getting your name back to a respectable level with hardware and software tweaks and worry about a BB OS a few years from now. Let Android save the company.
4. thealphageek1 (Posts: 557; Member since: 02 Feb 2013)
People are always saying that Android can save the day. If that we're the case, how come the only company to really profit off of Android is Samsung? How come HTC, Motorola, Lg, Sony, ect are not making a profit off of Android? Clearly, the "Green Robot" is not the savior of every company. No, BlackBerry does not need to "go android". BlackBerry needs to focus on the plan that it's CEO has laid out for them. Focus on the enterprise side of mobile. Focus on and further develop BBM and push it to be the ultimate cross-messaging platform. Attack the emerging markets where they are still strong. Focus on MDM and EDM. Use the deal with Foxconn effectively. These are the things that will make the company strong again. Android is not the savior of every company. It's about time the Android fanboys understood that.
7. Andrewtst (Posts: 251; Member since: 25 Jan 2009)
BB is dead, pretty obvious dark future for BB.
8. Furbal (Posts: 141; Member since: 22 Sep 2012)
Fire sale those Q10's that are sitting in warehouses, I want one
9. E.S.1 (Posts: 286; Member since: 14 Sep 2013)
I think they should drop their prices down by 50% and a lot of people would consider a blackberry again.
I know I would. There is nothing wrong with BBZ30.