New RIM CEO Thorsten Heins Is A Patsy Set Up To Fail
I will lay even money that Balsillie and Lazaridis teamed up with RIM’s media relations department to put out that video, knowing full well what their new puppet was going to say. It would not surprise me if they were standing behind the camera, nodding along as Heins hit the bullet points.
Ever seen The Hudsucker Proxy? If you have not, go stream it on Netflix. The basic premise is that a clueless kid from the mailroom gets promoted to be the president of a large company so the board can ruin the stock and buy it all up themselves. Tim Robbins plays Norville Barnes, the “proxy,” a clueless guy out of business school in backwater Muncie, Indiana. Barnes is the patsy to the board, the guy taking the fall.
While Heins is not some foolish backwater kid out of the mailroom (he is an accomplished engineer who has been with RIM for four years and was the COO before his promotion), but the same principle exists. Balsillie and Lazaridis are still likely to be pulling the strings. There are distinct differences like the fact that Balsillie and Lazaridis already own most of RIM’s stock and the stock is lower than ever.