by Wilfred Okiche
Jim Balsillie and Mike Lazaridis on Monday announced that they would step down as co-chairmen and co-chief executives of Research in Motion, makers of the popular BlackBerry device.
Both men oversaw the development of the company into a global technological player after the BlackBerry became the first device to deliver e-mail over airwaves.
They are however leaving behind a troubled company that is currently facing stiff competition from Apple and other phones using Google’s Android software.
The struggling company’s stock price also dropped about 75percent in the last year. Thorsten Heins, currently the chief operating officer has been named chief executive.
According to the New York Times, Mr Heins revealed during an interview, that he would pursue the same strategies as the exciting CEOs.
The company is hoping for a turn around in fortunes by the end of the year with the introduction of a new line of phones and new operating system known as the BlackBerry10.
Mr Lazaridis will resume as vice chairman and head of the new innovation committee of the board while Mr Balsillie will remain in a limited role as director. They both retain their stakes in the company.