Phones Limited

BlackBerry shareholders to CEO Thorsten Heins – ‘make a big change or resign’

News   •   Jul 09, 2013 14:56 BST

A new name, yet still the same old company, this is what BlackBerry Ltd. is all about. It looks like the long-delayed modern OS makeover the BlackBerry10 or BB10 has been largely met with customer apathy and that the company’s CEO Thorsten Heins’ claim of recovery is now fading away.

We all have heard about the news of the company’s shares peaking way back in January or 2013. This is despite the fact, that hope for the new BB10 operating system could actually change the course of the company’s dying status.

BlackBerry’s stock prices arrive to a high $18.46 USD (three-fold increase from their $6 price in late 2012). Sadly, since share prices have gone down ($10 this week), it seems like Heins could actually lose his job. This change could also start big changes as the company’s investors rage is expected to happen during their annual shareholders meeting.

John Goldsmith (Deputy Head of equities at Monstrusco Bolton) is one of the company’s biggest shareholder with at least 1.5 Million shares or about $15 Million USD in total investment. He angrily commented to Reuters on BlackBerry’s Q2 loss… saying: “The results were a quasi death knell for BlackBerry. The share move last week was very violet. I think you are going to get people standing up and making their voices heard at the AGM.”

Goldsmith also voices his opinion about the new BB10 devices (BlackBerry Z10 and BlackBerry Q10) and he said that he loves them and thinks that they could actually do great in theory but not in the hands of BlackBerry. He also compared BlackBerry to Apple and Samsung, BlackBerry is fish in a shark tank.  

Goldsmith said: "The problem here is they are facing Goliaths like Apple and Samsung, forget about the other Android devices. With a research and development budget that is a fraction of that of those two companies, how on earth can they compete?  I love fairy tale endings as much as the next person, but this is David versus two Goliaths, so good luck."

BlackBerry’s CEO has also admitted that the company will most likely post another loss for 2013’s Q3. He also insists that BlackBerry is still “on the right track”. He stated their earnings call and said “We stay the course. This is the course that management has created and it is the course that the board has accepted.” Heins also made comments to Reuters saying: “This is a year of investment. We have managed our cash carefully and prudently, and we now have the funds to invest, so this is the ‘create the future’ year.”

The problem is, some of the company’s investors want management change and the others are also crying for a sale (whether it is as a whole entity or the company in parts). This sounds like they are calling for an actual sale or leadership changes and the shareholders do seem to be united on these just to save any part of BlackBerry.

For more BlackBerry Q10 best prices, click on this link.