New Blackberry CEO
By Sumir Singh

The Board of Directors of BlackBerry maker Research In Motion (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.

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.”