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Meet RIM's new CEO: Thorsten Heins to adjust consumer market focus

Meet RIM's new CEO: Thorsten Heins to adjust consumer market focus
2011 was the year when RIM’s shares nosedived and financials reflected the company’s inability to match Apple’s iOS and Google’s Android on the consumer market, so the company starts 2012 with a change: the company’s former chief operating officer Thorsten Heins takes over as CEO and president, and brings decades of technological experience in the hope to execute right and timely the PlayBook 2.0 and introduce the first BlackBerry 10 devices this year. 

So while there’s seemingly no change in RIM’s plans for the future, the company seems to have realized that it needs to execute its plans faster and more effectively, and that’s what brings Heins to the CEO position. 

Who is Thorsten Heins?

The new chief executive is 54 years old, a native of Germany, who arrived at RIM in 2007, after serving as chief technology officer at German tech giant Siemens AG. He has extensive experience in research and development, customer services, sales and product management, all departments where he served at Siemens for a combined total of over 20 years. As a COO at RIM, his previous duties included supervision of the hardware and software developments. 

What are RIM’s new CEO priorities?

In a short interview, posted by the Canadian company right after it announced the CEO shuffle, Heins stressed that his mission is to take RIM to “the next phase.” As a starter for this, he welcomes innovation and prototyping and this might be a key aspect of his work as RIM is looking to reinvent its identity with BB10.

Heins underlined execution as the second big priority where the Canadian phone maker could do better. 2011 is a glaring example of this: the BlackBerry PlayBook tablet had to wait nearly nine months to get native email and calendar applications. The first BlackBerry 10 devices were also delayed to late 2012, driving RIM shares further down.

“When you say we’re bringing a product to market, you make sure you execute,” the new CEO said.

Finally, the list of changes concludes with marketing. Heins said he will hire a new marketing head to better communicate the Canadians’ progress. The BlackBerry is still popular in enterprises, but it’s lost ground to iOS and Android among consumers, and communicating the benefits of the new BB10 platform and PlayBook 2.0 will be key to recapturing market share. RIM, currently has around 16.6% of the US smartphone market, trailing behind Android with 46.9% and iOS with 28.7%.

“We will be working the consumer market not at the expense of the enterprise,” Heins said. “I’m not here to retreat from the U.S. market. I’m here to take it up.”

The ex-co-CEO duo shadow of influence

Thorsten Heins was appointed as the new CEO after nearly two decades of RIM being run by the Mike Lazaridis-Jim Balsillie duet. Lazaridis found the company back in 1984. The two CEOs voluntarily decided to step down as pressure from investors grew, but they both remain in the company’s board.

Additionally, Heins will still receive guidance and advise from the former co-CEO duo, so there’s still a lingering shade of doubt about how big of a change the new chief executive, who worked in their shadow for four years, will bring.

“He’s really excelled in every department he’s been responsible for,” Lazaridis commented on why he was picked. “He became the natural choice.”

source: BlackBerry, Joy of Tech

January 22, 2012 21:39 ET
Research In Motion Names Thorsten Heins President and CEO
- Board Acts on Recommendation of Co-CEOs to Implement Succession Plan
- Mike Lazaridis Named Vice Chair of the Board
- Jim Balsillie Remains a Director
- Barbara Stymiest Named Independent Board Chair
- Prem Watsa Named Independent Director

WATERLOO, ONTARIO–(Marketwire – Jan. 22, 2012) – The Board of Directors of BlackBerry® maker Research In Motion (RIM) (NASDAQ:RIMM)(TSX:RIM) today announced that, acting on the recommendation of its Co-Chief Executive Officers to implement the succession plan they previously submitted to the Board, it has unanimously named Thorsten Heins as President and Chief Executive Officer. Mr. Heins was also appointed to RIM’s Board. The Board acted after conducting its own due diligence. Both appointments are effective immediately.

Mike Lazaridis, former Co-Chair and Co-CEO, has become Vice Chair of RIM’s Board and Chair of the Board’s new Innovation Committee. As Vice Chair, he will work closely with Mr. Heins to offer strategic counsel, provide a smooth transition and continue to promote the BlackBerry brand worldwide.

Mr. Heins said he looks forward to continuing to work with Mr. Lazaridis, globally recognized as a technology pioneer. He said, “Mike created a whole new way of communicating and I look forward to continuing our close collaboration.”

On the transition to CEO by Mr. Heins, Mr. Lazaridis said, “There comes a time in the growth of every successful company when the founders recognize the need to pass the baton to new leadership. Jim and I went to the Board and told them that we thought that time was now. With BlackBerry 7 now out, PlayBook 2.0 shipping in February and BlackBerry 10 expected to ship later this year, the company is entering a new phase, and we felt it was time for a new leader to take it through that phase and beyond. Jim, the Board and I all agreed that leader should be Thorsten Heins.”

Jim Balsillie remains a member of the Board. “I agree this is the right time to pass the baton to new leadership, and I have complete confidence in Thorsten, the management team and the company,” he said. “I remain a significant shareholder and a Director and, of course, they will have my full support.”
Mr. Lazaridis said that he decided to move from Co-Chair to Vice Chair of the Board in order to return the public’s focus to what is most important: “the great company we have built, its iconic products, global brand and its talented employees.”

Mr. Lazaridis added, “Thorsten has demonstrated throughout his tenure at RIM that he has the right mix of leadership, relevant industry experience and skills to take the company forward. We have been impressed with his operational skills at both RIM and Siemens. I am so confident in RIM’s future that I intend to purchase an additional $50 million of the company’s shares, as permitted, in the open market.”

Mr. Heins said he believes that RIM has tremendous potential. He joined RIM from Siemens Communications Group in December 2007 as Senior Vice President for Hardware Engineering and became Chief Operating Officer for Product and Sales in August 2011.

“Mike and Jim took a bold step 18 months ago when RIM purchased QNX to shepherd the transformation of the BlackBerry platform for the next decade,” Mr. Heins said. “We are more confident than ever that was the right path. It is Mike and Jim’s continued unwillingness to sacrifice long-term value for short-term gain which has made RIM the great company that it is today. I share that philosophy and am very excited about the company’s future.”

Mr. Heins said that RIM has a strong foundation on which to build. “We have a strong balance sheet with approximately $1.5 billion in cash at the end of the last quarter and negligible debt. We reported revenue of $5.2 billion in our last quarter, up 24% from the prior quarter, and a 35% year-to-year increase in the BlackBerry subscriber base, which is now over 75 million.”

Mr. Heins said, “BlackBerry 7 has been well received. We are very excited about PlayBook 2.0 and BlackBerry 10. The reception of our products at this year’s Consumer Electronics Show was encouraging.”
He continued, “RIM earned its reputation by focusing relentlessly on the customer and delivering unique mobile communications solutions. We intend to build on this heritage to expand BlackBerry’s leadership position.”

Mr. Heins said that RIM has grown quickly. “As with any company that has grown as fast as we have, there have been inevitable growing pains,” he said. “We have learned from those challenges and, I believe, we have and will become a stronger company as a result.

“Going forward, we will continue to focus both on short-term and long-term growth, strategic planning, a customer- and market-based product approach, and flawless execution. We are in the process of recruiting a new Chief Marketing Officer to work closely with our product and sales teams to deliver the most compelling products and services.”

Barbara Stymiest, who formerly served as a member of Royal Bank of Canada’s Group Executive and has been a member of RIM’s Board since 2007, has been named the independent Board Chair. John Richardson, formerly Lead Director, will remain on the Board. Prem Watsa, Chief Executive Officer of Fairfax Financial Holdings, also was named to the Board, expanding it to 11 members.

Speaking on behalf of the Board, Ms. Stymiest said: “We believe that Thorsten is the right executive to succeed Mike and Jim. He has 27 years of telecommunications experience, including four years at RIM in senior management positions. As a Board, we have been impressed with his outstanding management skills, his leadership and his accomplishments within the company.”

Ms. Stymiest also expressed the Board’s respect and admiration for Messrs. Lazaridis and Balsillie, the company they built, and the steps they have taken to position RIM for the future.

“They created RIM, nurtured it, and in the process not only built an iconic brand, but literally pioneered the smartphone industry,” she said. “It is Canada’s largest tech company and one of the largest in the world.”

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