Former co-CEO Jim Balsillie sells full 5.1% stake in BlackBerry

Former co-CEO Jim Balsillie sells full 5.1% stake in BlackBerry
BlackBerry former co-CEO Jim Balsillie has sold his full 5.1% stake in the company just after the launch of BlackBerry 10. Balsillie who shared the chief executive post at what was then Research In Motion with co-founder Mike Lazaridis was the third largest owner of company stock.

The CEO duo between Lazaridis and Balsillie stepped down in January amidst criticism of slow reforms at the company. Thorsten Heins took over the chief executive role and was the one to finally deliver the long anticipated BlackBerry 10 operating system on two devices, the full-touch Z10 and QWERTY-equipped Q10.

Now that Balsillie has dumped its stock, we can only assume this as a hint to a not so bright future ahead for BlackBerry. What do you make of it?

source: Financial Post

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15 Comments

1. riimmmmissssooooodeeaddd

Posts: 3; Member since: Feb 14, 2013

I think ALL the fool that think BB can survive should be scared now.... 1. those who buy BB stock were a fool, they just literally giving money to Jim Balsillie. 2. If BB10 is gonnna DOA (or DAA - Death after arrival), all of those early adopter is a donkey.... bdonkey (as opposed to i shhep) 3. Did any BB supporter still want to buy BB10 now? 4. Did all the big company still wanna try BB10 now???

2. donfem

Posts: 708; Member since: Mar 30, 2011

I guess the a lot could be read to his decision to sell. First, why didn't he sell when the stock was very low? Second, after the successful launch of the new BB with the impending rise of BB stock, his decision to sell does not mean doom to Blackberry. Third, it probably is a snart move to get more money now rather than wait for later. The ridiculous post you wrote just shows outright bias and idiocy.

3. riimmmmissssooooodeeaddd

Posts: 3; Member since: Feb 14, 2013

Jim Basillie is a bussinessman, and also a 'smart' guy. 1. He know if Q1 2013 result of BB come out, the public will know that BB10 is not really success, and the share will go down again. 2. He also know that the current stock price is already TOO HIGH. and it's high because of bubble which is will be gone soon. He's not a fool. 3. and he also know all the number (sales number, etc), since he's one of the biggest shareholder.

9. semipro1337

Posts: 113; Member since: Oct 01, 2012

Yeah hes a real smart guy, hes a key player to blame for where BB is now.... Smart guy indeed.

8. DAVEED

Posts: 6; Member since: Oct 05, 2012

BB stock is up over 3% - you opion is yours and we all appreciate learing from you and your wisdom. I have no preference one way or the other in regards to BB but I like to follow events that are needle movers and this sales and HD are exactly that. Stock went down and now back to where it was so yes, the stock market adjusts to information and then they calm down and re-evaluate. With luck BB will continue to climb and we will have 4 OS to compare and evaluate each day. That's the fun part right ? Update - now up over 5%

4. noooosamsung

Posts: 3; Member since: Feb 14, 2013

The question is... When will the other CEO..... Mike Lazardis will dump his share... When will the other share holder follow suit.... If you can't sell the company (was RIM), launch BB10, and dump the share... lol

5. Droid_X_Doug

Posts: 5993; Member since: Dec 22, 2010

Ship is sinking when the rats are bailing. Too bad. Especially when it was the rats who put RIM in its present circumstance.

6. xsymbiann

Posts: 5; Member since: Feb 09, 2013

And the FUTURE for blackberry is ... SELL SELL SELL. Its going DOWN

15. ZeroCide

Posts: 816; Member since: Jan 09, 2013

Sounds like the future of Apple too

7. DAVEED

Posts: 6; Member since: Oct 05, 2012

Stock is up over 3% so thank you for selling the stock so BB can be free from the past and move foward. More platforms the better. It makes all manf. work harder to win your business so why worry about a company you dont support? Do you gain something by trying to make others feel bad about buying a BB or yourself better for not ... Most everyone has tried multiple OS and due to personal needs and wants choose one that best fits their needs. Enjoy yours and feel free to point out your benefits over others when you can. Now enjoy your V day

10. kindlefireowner

Posts: 504; Member since: Dec 05, 2011

This means nothing. This has more to do with his finances then Blackberry current situation. He may be diversifying his portfolio for his future. I bet he buys some Apple stock?

11. downphoenix

Posts: 3165; Member since: Jun 19, 2010

I dont think this means much. It is a lot of stock, but Blackberry's stock lately has had more ups than downs. I dont think we will see much of a dive in the stock unless the US launch tanks.

12. Lwazi_N

Posts: 205; Member since: Jun 23, 2011

I knew Jim selling off his shares would feed such negative buzz. But if you remember, Jim had different ideas about what will take the company forward. And the board wanted something new- BB10 foundation had already been laid with the Playbook. Then Jim and Mike got the boot. Jim quit from the RIM board while Mike kept his shares and his seat. Also, Mike bought even more RIM shares- but to you, that means nothing. It's obvious that Jim no longer wants to have anything to do with BB, and nothing is wrong with that.

13. speckledapple

Posts: 902; Member since: Sep 29, 2011

He needed to leave anyway.

14. InspectorGadget80 unregistered

NO CEO or board of directors shouldn't even recieve a huge PAY OUT OR PAY OFF. in my opinion giving these greedy idiots will bankrupt the company.

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