Business

BlackBerry’s executive exodus: Three more depart in management shakeup

broken BlackBerry
Image Credit: Flickr

Ailing smartphone maker BlackBerry announced a slew of management changes on Monday morning.

Three high-profile executives are out: chief operating officer Kristian Tear, chief marketing officer Frank Boulben, and chief financial officer Brian Bidulka. Of the three, only Bidulka will stick around for a bit, serving as a special advisor to the interim CEO for the remainder of the fiscal year.

Bidulka will be replaced by James Yersh, who has worked at BlackBerry since 2008. BlackBerry did not announce replacements for the two other departing executives, although it did reveal that board member Roger Martin has resigned.

The executive departures follow BlackBerry’s rejection of a $4.7 billion buyout offer from Fairfax Financial Holdings. The company instead opted for a $1 billion investment and gave CEO Thorstein Heins the boot, temporarily replacing him with former Sybase CEO John Chen.

It’s clear BlackBerry wants a fresh start, ousting the management team that oversaw the decline of the once proud company, which was valued at $80 billion in 2008. The company has since lost most of its market share to Apple and other smartphone makers. As it continues to shed employees, BlackBerry is shying away from the consumer market, pivoting to refocus on enterprise and “prosumer” customers.

More information:

A global leader in mobile communications, BlackBerry® revolutionized the mobile industry when it was introduced in 1999. Today, BlackBerry aims to inspire the success of our millions of customers around the world by continuously pushi... read more »

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