Feed: Technology Yahoo UK
Posted on: Friday, April 12, 2013 02:53
Author: Technology Yahoo UK
Subject: RIM's largest investor says he'll
The largest investor in Research In Motion (RIM) has declared he will stick with the BlackBerry company despite the announcement by founder Mike Lazaridis that he will leave the company. Prem Watsa, a board member who owns 10% of the firm, first became interested in RIM because of his friendship with Mr Lazaridis. Mr Lazaridis, 52, announced last month plans to leave RIM on May 1. He stepped down as co-chief executive in January 2012, but stayed on as vice chairman and a board director. Mr Watsa, speaking at the annual meeting of Fairfax Financial Holdings, said CEO Thorsten Heins has done a great job since taking over last year and he expects the company will do well over time. Nevertheless, RIM shares were down more than 7% at 13.62 US dollars (£8.85) in Thursday afternoon trading on the New York Stock Exchange. |
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