TechtechnologyBlackberryVideo

Jim Balsillie, Former Co-CEO Of BlackBerry, Has Cashed Out Of Beleaguered Company

Former BlackBerry CEO Pulls Entire Stake From Company
Reuters
|
Open Image Modal
In this Friday, Oct. 17, 2008 photo, Jim Balsillie, former co-CEO of Research In Motion, stands in the Seagram Museum, home to the Center for International Governance Innovation (CIGI), in Waterloo, Ontario, Canada. Research In Motion co-founders Balsillie and Mike Lazaridis have together donated more than $400 million to the community. The Waterloo-based think tank was created by Balsillie. (AP Photo/The Canadian Press, Dave Chidley)

TORONTO (Reuters) - Shares of Blackberry slipped on Thursday, after the company's former Co-Chief Executive Officer Jim Balsillie disclosed that he had sold his once-sizable stake in the embattled smartphone maker.

In a regulatory filing on Thursday, Balsillie said that by the end of last year he had sold his entire stake in the company. Balsillie, who stepped down as CEO a year ago, owned about 26.8 million shares, or a roughly 5 percent stake in the company, as of December 31, 2011.

Shares of BlackBerry were down 3.4 percent at $13.52 in early trading on the Nasdaq, while its Toronto-listed shares fell 3.5 percent to C$13.51.

(Reporting by Euan Rocha; Editing by Gerald E. McCormick)

Our 2024 Coverage Needs You

As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.

Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.

to keep our news free for all.

Support HuffPost

Before You Go

BlackBerry 10 Launch - Jan. 30, 2013
(01 of20)
Open Image Modal
(credit:Tihnte.vn)
(02 of20)
Open Image Modal
(credit:CrackBerry)
(03 of20)
Open Image Modal
(credit:TechCrunch)
(04 of20)
Open Image Modal
RIM CEO Thorsten Heins (credit:Screencap)
(05 of20)
Open Image Modal
(credit:Sunny Freeman/HuffPost Canada)
(06 of20)
Open Image Modal
(credit:Screencap)
(07 of20)
Open Image Modal
RIM Co-founder Mike Lazaridis (credit:Screencap)
(08 of20)
Open Image Modal
(credit:Sunny Freeman/HuffPost Canada)
(09 of20)
Open Image Modal
(credit:Screencap)
(10 of20)
Open Image Modal
RIM CEO Thorsten Heins (credit:Screencap)
(11 of20)
Open Image Modal
Singer Alicia Keys has been appointed BlackBerry's global creative director. (credit:Screencap)
(12 of20)
Open Image Modal
(13 of20)
Open Image Modal
(credit:Screencap)
(14 of20)
Open Image Modal
(credit:Screencap)
(15 of20)
Open Image Modal
(credit:Screencap)
BlackBerry Flow(16 of20)
Open Image Modal
(credit:Screencap)
BlackBerry Hub(17 of20)
Open Image Modal
(credit:Screencap)
BlackBerry Peek(18 of20)
Open Image Modal
(credit:Screencap)
(19 of20)
Open Image Modal
(credit:Screencap)
(20 of20)
Open Image Modal
(credit:Screencap)
Suggest a correction
|
Submit a tip