Jim Balsillie resigns from RIM board

Research In Motion co-founder and former CEO Jim Balsillie has resigned.

David Yach, CTO of Software and Jim Rowan, COO of Global Operations have also stepped down.

The move happened after the Canadian tech giant announced the strategic review of its business.

Thorsten Heins, who replaced Balsillie and Mike Lazaridis as chief executive in January, says RIM faces significant challenges.

The company had a loss of US$125 million or 24 cents per share in the fourth quarter, as it took a $355-million write-down of intangible assets known as goodwill.

The loss compared with a profit of $934 million or $1.78 per diluted share a year ago. Revenue fell to $4.2 billion, down from $5.6 billion.

During the quarter, RIM shipped approximately 11.1 million BlackBerry smartphones and over 500,000 PlayBook tablets.

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