RIM shares drop in reaction to new CEO

Many have been calling for change but now that it has happened, some are saying it is not enough.

Longtime RIM co-CEOs Balsillie and Lazaridis resigned Sunday night and Thorsten Heins will take over.

Investors are not exactly feeling the love for Heins, after he stated that RIM has been moving in the right direction and that they will build on that.

“I don’t think that there is some drastic change needed, we are evolving, we are evolving our strategy, we are evolving our tactics, our processes,” said Heins.

RIM shares dropped 1.20 on Monday.

Nick Bontis with the DeGroote School of Business at McMaster University told 680News, it was a safe decision by the company to make Heins the new CEO.

“The new CEO is an insider and the change in the board is not really a change at all. I think all in all they tried to appease the share holders and the external share holders by doing the shake up but at the same time they didn’t want to make it too drastic.”

Heins was formerly RIM’s Chief Operating Officer.

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