RIM To Stop Allowing CEOs To Serve As Board Chairmen

An independent review carried out by Research in Motion following the departure of its co-CEOs has concluded that the company should refrain from allowing the pair to return and serve as chairmen of the board.

The assessment was carried out following criticisms by shareholders in April 2011 regarding the company's corporate structure and the position occupied by the then-CEOs Mike Lazaridis and Jim Balsillie who resigned earlier this month.

"The committee believes that appointing an independent chair is the appropriate solution for RIM shareholders and will resolve the issue for RIM and its employees and business partners," the reviewing body concluded, as reported by Mobile Burn.

Although the practice is commonplace in the US with CEOs often appointed as chairpersons to the board, it is still very much a rarity in Canada where RIM is based.

The company is currently holding its first official public conference - DevCon - since the departure of Lazaridis and Balsillie and saw its new CEO, Thorsten Heins, take the stage to reveal that there are 755 million active Blackberry subscribers and that more than 180 million Blackberry handsets have been sold worldwide.