19:14:58 EDT Fri 03 May 2024
Enter Symbol
or Name
USA
CA



BlackBerry Ltd
Symbol BB
Shares Issued 583,739,593
Close 2023-10-17 C$ 5.08
Market Cap C$ 2,965,397,132
Recent Sedar Documents

Globe says BlackBerry CEO Chen faces a Waterloo moment

2023-10-18 08:21 ET - In the News

The Globe and Mail reports in its Wednesday edition that John Chen is in active conversations with the BlackBerry board over his future with the company as his contract draws to a close next month. The Globe's Sean Silcoff quotes the BlackBerry chief executive officer telling a New York conference: "There is a conversation there. We'll probably have the result soon." Mr. Chen was appointed to lead Waterloo, Ont., stalwart BlackBerry in November, 2013, to replace short-lived predecessor Thorsten Heins, who had taken over in early 2012 from long-time co-CEOs Jim Balsillie and Mike Lazaridis. Mr. Chen said he did not know whether he would remain with BlackBerry and that the decision about his future had been left until after the board decided earlier this month to split itself in two. The company plans to spin off its profitable, fast-growing connected car, or Internet of things (IoT), business into a separate public company, from its slower growing, unprofitable cybersecurity business. "It's now time for me and the board to sit together and say what value I add, or had I ever added any value, or what value I add going forward," Mr. Chen said. The five-year extension to his original employment contract expires Nov. 3.

© 2024 Canjex Publishing Ltd. All rights reserved.