BlackBerry maker Research In Motion has announced former chief executive Jim Balsillie will be stepping down from the company, following a disappointing financial result in the fourth quarter.
The troubled tech giant announced revenue of $4.2 billion, which is down 19% from the previous quarter.
Former chief executive JIm Balsillie said in a statement he would be stepping down from the company’s board. He and co-chief executive Mike Lazaridis were recently replaced by Thorsten Heins.
“As I completely my retirement from RIM, I’m grateful for this remarkable experience and for the opportunity to have worked with outstanding professionals who helped turn a Canadian idea into a global success,” he said.