Skip to content
Subscriber Only

RIM Has Six Months to ‘Prove’ Co-CEOs Need Chairman Title

Research In Motion Ltd. has six months to “prove” that its co-chief executive officers need to retain their co-chairmen titles for business reasons or face the reintroduction of a proposal to split the roles, said the investor that originally called for the change.

Northwest & Ethical Investments LP last month made a proposal to split the roles of chairman and CEO to increase board oversight, and investors were originally slated to vote on the issue at the company’s annual meeting yesterday in Waterloo, Ontario. The shareholder withdrew the proposal after RIM tried to make the case the chairman title helps co-CEOs Jim Balsillie and Mike Lazaridis generate business, particularly overseas. The company also agreed to form a committee to study its leadership and examine the importance of the chairman post.