RIM co-CEOs may be on their way out

A new report from the Financial Post says that pressure from Research in Motion shareholders have finally convinced the company to restructure its corporate executives, including co-founders and co-CEOs Mike Lazaridis and Jim Balsillie.

According to the report the leading candidate for the chairmen title is Barbara Stymiest, an independent director on RIM’s board. Stymiest joined RIM’s board in 2007, the report notes.

The company, who famously creates and operates the Blackberry lineup of smartphones has seen sales dip as well as marketshare. The Blackberry Playbook tablet, which was released in 2011, has had very poor sales forcing RIM to cut the price for the device multiple times.б═

Shares of Research in Motion (NASDAQ: RIMM) shot up on reports of this news. With just over one-hour until closing RIMM is up 7.38% at $15.57.

Update:б═Shares of RIMM closed Tuesday up 6.97% at $15.51.

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  1. [...] RIM's co-CEOs,б═Mike Lazaridis and Jim Balsillie, will soon be kicked out as chairmen, confirming a report from earlier this week. In addition, the note states that current RIM board memberб═Barbara Symiest [...]