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Jim Balsillie, former RIM CEO, has dumped all of his BlackBerry shares

balsillie

In a filing with the SEC released today, former RIM co-CEO Jim Balsillie has revealed he no longer owns any shares of a company he helped found.

As of December 31st, 2012, Balsillie had zero shares in RIM; he owned 26.8 million on December 31st, 2011. But after being outed as CEO alongside longtime partner Mike Lazaridis, Balsillie recused himself from any responsibility in the company’s future. He maintained a position on RIM’s board of directors for some time and independently stepped down in March of last year; Lazaridis is still vice-chair of the board, and was present at the BlackBerry 10 launch. Balsillie, on the other hands, was nowhere to be found.

Balsillie now has no formal connection to the company he helped, at its height, find so much success and, during its darkest days, was accused of ruining.

Source: SEC
Via: CNET

  • Dimitri k.

    To be honest, yes he did build RIM & BlackBerry but all he cared was to get a NHL team… He got kicked out of being CEO because he never brought anything to the table. I own the Z10 & love BlackBerry but u doubt he would have made the Z10 & Q10.

    Anyways its news but not really newsworthy here. We all knew he would dump the shares as he does not have anything to do with the company anymore. He is more pissed then anything.

    • Failed Lineup or failed prices?

      “Balsillie, on the other hands” ??
      Daniel: just take a couple of minutes to read what you just wrote, and then press “Post”

      “ON THE OTHER HANDS” we know that you have a lot of work and its a hasle to proof-read everything.

    • Me

      Both phones were in the works before the CEO’s got the boot.

    • winder

      @Dimitri k.

      It’s* not that much of a hassle* really is it?

      (don’t be a grammar Nazi and spell things wrong/use incorrect grammar)

    • Jack

      Never brought anything to the table? He helped make a $19 billion dollar company from virtually nothing. What have you done in comparison, Dmitri?

  • JR

    Ummm, Balsillie didn’t found RIM or even help found RIM. RIM was well established as a company when he was hired. He did talk himself into leadership of the company and his strategic vision lead them to their success but he was not a founder.

    • Dimitri k.

      It was founded by Mike Lazaridis and Jim Balsillie, who served as its co-CEO and co-Chairmen until January 22, 2012. Its current CEO is Thorsten Heins.

      Wikipedia. Search it & see for your self.

    • JR

      Please don’t be one of those people that thinks wikipedia is an authoritative source for info. RIM was founded in 1984. Balsillie was hired in 1992.

    • JR

      “Balsillie’s drive and competitive nature has helped bring RIM, which had fewer than ten employees when he joined forces with Mike Lazaridis in 1992, to a business with offices around the world, serving corporate clients as well as government bodies like the U.S. Department of Defense and the U.S. Congress.”

    • Tyrone

      Please JR do tell us who is the founder of Blackberry then.

    • Anonymous

      Mike Lazaridis founded RIM in around 1984 and Balsillie joined years later as a financial backer who also took a position at the company.

    • JR

      Mike Lazaridis founded RIM in 1984 Tyrone. Hope you found that helpful as your educational tidbit for the day.

    • JR

      Still stunned somebody actually referenced wikipedia as a source for facts. Do they not teach people how to do actual research anymore in schools? The intellectual laziness of some readers here is astonishing.

    • Tyrone

      Actually I already knew that Mike Lazaridis founded Blackberry who doesn’t that? When I read your comment I was saying to myself you clearly don’t know what you’re talking about trying to tell Dmitri that he wasn’t. That’s like saying only Steve Jobs was the founder of Apple not Steve Wozniak & Ronald Wayne.

      But I do only agree with you that Wikipedia isn’t a reliable source since about with an account can change anything. But here nice thing about that. The moment you edit something their pretty much somebody on that site going through to see if its legit or not.

    • JR

      Tyrone, You Apple example is not relevant because Jobs, Woz and Wayne were all founders of Apple. Balsillie was simply not a founder of RIM. RIM was established by Mike in 1984. Balsillie joined in 1992.

      Do a google search. Search for RIM, Balsillie, 1992. You will pretty quickly see that Balsillie joined in 1992. RIM was founded almost a decade earlier. A friend of my father was one of the early employees at RIM before Balsillie ever set foot in the company.

    • OgtheDim

      Ummmm….having been to school with a few of the first employees, the company was around before Balsillie. Wikipedia isn’t truth.

    • Tyrone

      Why do I need to a Google search on something I just said to you? Mike Lazaridis is founder and Jim was the CEO I do know that he wasn’t there from the start. You’re telling me stuff I already know.

    • JR

      Umm, no Tyrone, too late to lie now. You said that saying Jim wasn’t a founder was like saying Woz wasn’t a founder of Apple. Except it isn’t at all like that. Woz was a co-founder. Jim was not. You example was retarded.

      First, when I said Jim wasn’t a founder, you chimed in trying to sound smart by saying I should tell you who was the founder them, if not Jim. Then you present a completed irrelevant example. And now you are trying to say you knew that. Right.

      People in these comments say the dumbest things.

    • Tyrone

      Me caught in a lie? Sure buddy I clearly say and type that Mike was the founder and Jim is was/the CEO also make points from Dmitri post as well. You don’t need to get all butthurt trying to prove people wrong its just the internet.

    • JR

      Dmitri was completely wrong. You thought he was right. Keep digging. It’s funny watching people that are clueless. Keep going. At least dmitri didn’t try to argue the point when his error was pointed you. You, on the other hand appear not to be as smart. Funny.

    • JR

      The funniest part, Tyrone, is you seemingly aren’t even bright enough to see how regarded your posted were. Can I make a guess? You’re an Android user, yes?

  • hoo dat

    I don’t think this comes as any big surprise, it was made very clear to him that his presence was no longer welcome at RIM/BlackBerry as soon as the management take over happened. Further rubbing salt into the wound was Lazaridis on the board of directors and swanning around like he still owned the joint. He probably sold not long after Heins took the reins so he probably got a good $300-$350M out of the deal. Don’t feel too sorry for him ;)

  • Adam H

    Dumping shares has nothing to do with being pissed or that he has nothing to do with the company. It just means he doesn’t think the shares will grown/make money so he sold them. Just like anyone else could buy or sell BlackBerry shares when they feel it is most beneficial for them to do so.

    • some guy

      Or he owes the Russian mob a very large gambling debt for betting against Wiarton Willie’s early spring prediction, and needed to get some quick cash.

  • sp

    i dont know about you guys but I dont necessarily think that this is a bad thing for BlackBerry.

    this is a step in the right direction for them to get their shares back from the ex CEO’s and to start fixing their image to the public.

    IMO

  • fgvf

    Hope he only got $7 per share

    • Franky 62

      He liquidated at the end of december. so most likely he sold betweenn 14-17$ a share

  • jimmy

    Good! Get rid of all the old leadership and get a new set of fresh eyes working on things!!

    This guy were stuck in the past!

  • wotzit2ya

    The rats usually leave the ship before it sinks

    • Brad F(anboy)

      ABANDON SHIP!

      /trollolol

  • R.I.P Christopher Dorner God Bless your Soul

    he’s a strategic business man. he did the right thing.

  • Steven

    Smart thing to do, those stocks will be shown to $2 in no time

    • Franky 62

      You do know there current cash holdings alone makes them worth at least 6$ a share. you start looking at everything else such as patents, equity, etc… shows how much you really know

  • Tom Riddell

    Who cares about Blackberry or RIM
    The Device is years behind anything Android or Apple Based

    I owned a blackberry for 4 months
    There no apps the only thing worth wild is BBM
    Everthing else I can get with Android just have to find the app.

    • Franky 62

      so you have an old phone is what your saying. Thats your problem its like saying your original samsung galaxy s1 sucks because it doesnt do what the galaxy nexus 4 does.

    • SheepSix

      I just can’t take your opinion seriously.

      “worthwhile”.

    • Dr.Hugo

      Tom your so full of it you reek of the bull your spilling here , educate yourself on the BB10 OS on how its better then Android and iOS

  • simbob

    BB never had a future to begin with. Same thing hapenned with PALM. too little too late.

  • flagejan

    lol good BB stocks dropped 6% today pre market opening which gave everyone the chance to buy at 12.98 (lowest today). up by 5% now, excellent day for shareholders

    he was literally useless to BB

    • pacalis

      Ha, if you think that stock drops are excellent for shareholders, shareholders are going to have a great year with Blackberry…

    • flagejan

      yes they are for the smart ones who know when to buy and sell. Please stop yourself from making ridiculous comments on subjects you lack any and all knowledge…also dont google “finance” either lol

  • Brian

    RIP RIM, RIP BBRY in the same vein

  • Happyboy

    Hop BlackBerry will remain focused hey BlackBerry no more excuses keep focused The future of your company is depending on it

  • Robert

    Mr. Balsille had more to do with the collapse of the former RIM than anyone else. He was part of the regime that called the iPhone “a toy”…..the previous regime stopped paying attention to the competition. The fall of RIM was inevitable. Balsille can now spend all of his time trying to buy an NHL team. The vituperation directed at him from current and former employees is like nothing I’ve ever seen in the hi-tech field.

  • Nathen

    I’d be MORE Worried about MS Win8 and it’s MOBILE division then BlackBerry.
    Let’s not kid our selves, MS has allot more work to do to match the success of former RIM and to sum extent New BlackBerry. It is not like Win8 phones are flying off the shelves. Now with BlackBerry phones BACK in play the field has just gotten a bit more competitive for MS/Nokia.
    Google and Apple will also take not but they are not striving to be #3 so its BlackBerry and MS fighting it out here.
    My money is on Black Berry for the # 3 spot.

  • BlackBEERy

    HAHAHAH!

    Even with insider information on products he still fled BlackBeery (yes beer!) like a rat..

    Call it whatever you want BB10, BBX, Blackberry RIM..

    It is going to tank like Nokia.. now Nokia is making s**t stained phones for a shitty software company

  • bubu

    Who cares about Jim Ballsack? Hey Baaaaaader, is Ballsack compensating your shilling, or is it fat a*s Laziribidibias?

  • foneguy

    He got the boot. He is pissed. I would dump my company shares if they booted me out too.
    Anyway, the Z10 is a great phone. Even apple knows this. Just who do you think is behind thedelay on the US launch? Call me a conspiracy theorist, but I wouldn’t put it past them to pressure the carriers into making excuses about further testing so they can strngthen their market prescence, and then make an offer to Home Depot to dump Blackberry, by offering them cheap handsets to make the switch before teh Z10 launches in the US.

    • MikethemaN

      Conspiracy theorist? No!
      Nutjob? Quite possibly. When the US DoD complete their move to ios, what will you conspire to then?

  • Falco

    I’m no technowhiz, but I don’t see the Z10 as anything greater than other products out there. And there are companies bailing on BB and switching to Apple. What I find to be really annoying is having the Z10 shoved in my face when I go to a carrier web site. I happen to prefer Sony, especially knowing the ZL will have a dedicated camera shutter button. Seems like a small item, but has been a big complaint about a number of recent devices from all manufacturers. Looks like Sony is listening….at least to me.

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