Canadian mobile outfit RIM has defended itself against attacks from its shareholders and an email which claimed to be from a senior member of staff.
Yesterday we reported how an “open letter” from what’s believed to be a senior manager voiced frustrations about product delays and demanded a reorganisation.
In a statement RIM said developing new products “has taken longer than anticipated.” However it said that its business was sound, although staff reductions were necessary and that new products are lined up.
The RIM employee wrote in the open letter, which published by blog BGR that he had lost confidence in the company.
“Almost every project is falling further and further behind schedule at a time when we absolutely must deliver great, solid products on time. We urge you to make bold decisions about our organizational structure, about our culture and most importantly our products,” the RIM employee wrote.
But it is not the only complaint RIM has to face. The lack of accountability and the strange management decisions has bought demand for RIM’s board to make changes to its co-CEO executive structure.
According to Reuters http://www.reuters.com/article/2011/06/30/us-rim-committee-idUSTRE75T6ZJ20110630 this particular cry carries some weight and while hinting that the email might be a fake, it has moved to change the CEO structure. Currently the role has been shared by Jim Balsillie and co-founder Mike Lazaridis since December.
RIM said in a statement it would establish a committee of independent directors to look the executive and board roles, and make recommendations for a revised corporate structure.
That apparently satisfied activist shareholder Northwest and Ethical Investments withdrew a proposed vote on the matter at RIM’s July 12 annual meeting.
Northwest, which holds more than half a million RIM shares and said that RIM had given a good response.