The Globe and Mail reports in its Tuesday edition that BlackBerry is looking for a new chief executive officer after announcing the departure of John Chen, a move that was welcomed Monday by investors. The Globe's Sean Silcoff writes that the company confirmed the news in a release shortly after markets closed, announcing the 68-year-old Mr. Chen would retire effective this Saturday, 10 years and one day after he joined. Board member Richard Lynch will become interim CEO until the company hires a permanent replacement. BlackBerry stock closed up 6 per cent on the day. Mr. Chen faced daunting challenge at BlackBerry, which popularized the smart phone category starting in 1999 when it was called Research In Motion. The company stumbled badly when Apple's iPhone arrived in 2007 and the subsequent rapid adoption of Android smart phones. Under Mr. Chen, BlackBerry had become a hodgepodge of businesses, mostly picked up through acquisitions before and after he joined. It provides in-car software to connect vehicles to the Internet. It sells cybersecurity software and provides device management software used by corporations to manage the fleets of devices used by employees. The cybersecurity business has been a disappointment.